Advantages of Labuan Company Work Permit
Labuan Company Set Up with Work Permit
In the recent years, the Malaysian government has made it easier for foreigners to form companies and do business in Malaysia. This created many opportunities for businesses to tap into the rapid economic growth in the Asia Region using Malaysia as the hub. [Read: Difference between Labuan Company and Malaysia Sdn Bhd Company]
Forming a Labuan International Company is the best option because of its many benefits, namely, foreigners can have 100% ownership of their business, enjoy low corporate tax of only 3% (when substance requirements are met) for specific trading activities and investment holding companies. On top of these advantages, Labuan companies are permitted now allowed to deal with local Malaysians and in both foreign and Ringgit Malaysia currencies! Marketing Offices can be set up anywhere in Malaysia with approval.
The main advantage of a Labuan business set up is that the registration of a Labuan company is generally fast and quick, after which, you can apply for the 2 years’ work permit for yourself, your family as dependents, and any qualified candidate you intend to employ to manage your business in Labuan. The application may begin while you are abroad or in your home country. Once your application is successful and approved by the Labuan Authority, usually within 90 days, all applicants must fly into Malaysia for 3-5 working days to complete the landing formalities such as visa stamping and opening of company bank account.
Start your business in Malaysia with Labuan International Company today to enjoy lower costs of living, peace, stability, and tap into the growing economies in Malaysia and the Asia Pacific region!
11 Benefits of Labuan Work Permit
- Can travel in and out Malaysia easily and as often as you like
- Able to stay in West Malaysia and Labuan
- No minimum stay requirement in Malaysia
- Can open personal bank account in Malaysia in multiple currencies
- Eligible to have Debit Card for all visa holders
- Dependents can be included in the 2 years' visa
- Parents can be included for yearly visa
- Visa can be renewed as long as Labuan company is active and compliant
- You can apply for Malaysia Driving License
- Able to open a personal tax file in Malaysia
- Eligible to apply for personal tax residency status in Malaysia
Advantages of Labuan Company Work Permit - Multiple Entry Visa
Among the many advantages of a Labuan company work permit, the most important benefit is that it is a multiple entry visa. Labuan work permit holders can travel in and out of Malaysia with ease and as often as they like! There is also no minimum stay requirement to be fulfilled when holding the Labuan work permit.
The Labuan company work permit proves to be very useful especially to the following nationalities as they are required to have a valid visa approved by the Malaysia Embassy/ Consulate for their every visit to Malaysia:
Bangladesh, India, Pakistan, Sri Lanka, Angola, Burkina Faso, Burundi, Cameroon, The Central African Republic, Congo Republic, Cote D ‘ Ivoire, Djibouti, Equatorial Guinea, Eritrea, Ethiopia, Ghana, Guinea-issau, Liberia, Mali, Mozambique, Niger, Nigeria, Rwanda, Western Sahara, Afghanistan, Bhutan, Colombia, Myanmar, Nepal, China, and Taiwan.
This requirement also applies to all holders of Certificate Of Identity, all holders Of Laisser Passer and all Holders Of Titre De Voyage.
Under the Malaysia immigration rules and regulations, all entry checkpoints have the right to deny entry to any tourist/visitor. Therefore, having a Labuan company work permit which is a valid visa for 2 years, will help to avoid such inconveniences as it facilitates smooth entry and exit into Malaysia as often as you travel.
Bank Account Opening For Your Labuan Company
From time to time, the bankers’ policies may change with the requirement of the foreigners as bank signatories to have a valid visa under his own company, to open the Labuan company bank account. As such, you may need to apply for the Labuan work permit visa to facilitate the opening of the bank account. After all, without a bank account for your Labuan company, it is pointless to own a Labuan company! Good news is that we have had many successful Labuan company bank account openings for our clients across over 80 nationalities with work permits!
We Serve You from Kuala Lumpur at Your Convenience!
For your onward visa renewal, our office in Kuala Lumpur can conveniently serve and support you on all your needs without your physical presence in Labuan. Our support and services rendered also applies to all company matters in relation to compliance, accounting and taxation advisory, etc. We can assist to perform these tasks on your behalf. To know more about our profile, get to know us more here!
To date, our team has served more than 80 different nationalities for visa applications of various types of work permits with the Malaysia immigration department including Malaysia My Second Home - a 10 years’ renewable residency program. Nothing shocks us when it comes to the different formats of documents required to obtain successful approval! Initiating the opening of the various files with the authorities and getting your application done correctly from the very beginning is important for smooth renewal for the onward years. We assure all our clients with full guidance every step of the way to meet their objectives in Malaysia.
Read: Difference Between MM2H Visa and Labuan Visa
Different Types of Work Permits in Malaysia
We are experts in assisting foreigners in residency settlement and business investment in and out of Malaysia. Feel free to visit www.MalaysiaBizAdvisory.com for complete information on local Malaysian Sdn Bhd opportunities and for international set ups. For Malaysia My Second Home 10-years visa program, please visit www.MigrateMalaysia.com.
Feel free to contact us at +60122889809 or send us an inquiry to [email protected] to check on your eligibility to apply for the Labuan Company! ‘One Labuan’ Platform Labuan Platform is designed to elevate your Labuan operations efficiently!
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For everything about business investment in Malaysia for foreigners as well as onshore business business expertise, check out our complete information at www.MalaysiaBizAdvisory.com