Comparison Labuan Company with Hong Kong and Singapore for Low Tax
Good to explore the latest Labuan Company tax in detail before you register an offshore entity. In our Comparison between Labuan Company with Hong Kong and Singapore For Low Tax, we illustrate the differences. Although Labuan Company is not 100% tax-free for trading activities business, it is an overall winner compared to Hong Kong and Singapore for offshore solutions! In the recent years, Labuan is fast becoming the favored jurisdiction in Asia for its combination of tax efficiency and reputation, owing to high compliance with international standards on due diligence and transparency. Also, with ASEAN soon becoming a single entity, one can expect Labuan as the ideal place to start a business due to its strategic location with lower cost of operations compared to Hong Kong and Singapore.
Comparison between Labuan, Hong Kong and Singapore
| General | Hong Kong | Singapore | Labuan |
|---|---|---|---|
| Political Stability | Good | Good | Good |
| British Based System | Yes | Yes | Yes |
| Disclosure of Beneficial Owners | No | No | No |
| Migration of Domicile Permitted | No | No | Yes |
| Chinese Wording on Certificate of Incorporation | Yes | No | Yes |
| Taxation | Hong Kong | Singapore | Labuan |
|---|---|---|---|
| Tax Rate | For 0%-approval required or pay 16.5% | 0 – 17% | 3% |
| Audit Report | Yes | Yes | Yes |
| DTA | 29 countries | 70 countries | 74 countries |
| Withholding Tax | No | 15% Tax | No |
| Bank Account In Multi-Currencies | Yes | Yes | Yes |
| Corporate | Hong Kong | Singapore | Labuan |
|---|---|---|---|
| Min Number Of Shareholders | 1 | 1 Corporate / 2 Individual | 1 |
| Min Number Of Directors | 1 | 2 (1 Resident Director) | 1 |
| Corporate Directors Allowed | Yes | No | Yes |
| Company Secretary | Yes | Yes | Yes |
| Standard Share Capital | HK$10,000 | S$100,000 | US$14,000 |
| Annual General Meeting | Yes | Yes | Yes |
| Registered Office | Yes | Yes | Yes |
| Local Director | Yes | No | No |
| Location Of Meeting | Anywhere | Anywhere | Anywhere |
| Filling Of Directors Info With Registry | Yes | Yes | Yes |
| Filling Of Shareholders Info With Registry | Yes | Yes | Yes |
| Shelf Companies Usually Available | Yes | Yes | Yes |
| Business Visa | Hong Kong | Singapore | Labuan | |
|---|---|---|---|---|
| The above comparison clearly shows that Labuan Malaysia is a better option for offshore company set-up in Asia! | ||||
| 2 Years’ Multiple Entry Renewable Visa | No | No | Yes | |
| Multiple Family Members | No | No | Yes | |
Why our Trust Company for Your Labuan Company?
We are a full-fledged licensed Labuan Trust Company (License No. LT0034) with a highly experienced team of dedicated professionals to assist with the set up of your Labuan Company up to providing the necessary support for annual maintenance. We look forward to serve you with bespoke service that meets your business banking needs as well as onwards compliance and operations.
Our ‘One Labuan’ Platform is designed for your convenience to subscribe to all services in one stop to simplify your investment in Labuan from day one! Feel free to contact us for an appointment in Kuala Lumpur office by dropping an email to [email protected] today! Sign up today to register your Labuan Company!
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