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Lloyd's Funds International is an executive level financial and management consulting firm that provides support to corporations, financial institutions and high net worth individuals A GLOBAL FINANCIAL POWER-HOUSE
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Tax Exempt Company Only US$199 |
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It may surprise you to learn that the NUMBER ONE reason for people moving money offshore is NOT because of tax benefits but asset protection. Today's predaceous and litigious society unfortunately makes successful people vulnerable to lawsuits of every kind.
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Where Is Labuan?
In the heart of Southeast Asia lies one of the world's most enchanting lands - Labuan. A tropical paradise of immense charm, Labuan is a veritable treasure trove of diverse cultures and hospitable people, exotic cuisine, fascinating festivals, quaint villages and modern skylines. Labuan is an island that is located approximately 8km off the coast of the state of Sabah at the mouth of the Brunei Bay. It comprises of one main island and six smaller ones, thus covering an area of 92 sq. km. It is also centrally located in the middle of the Asia-Pacific region. Labuan's inhabitants are very cosmopolitan. They come from all walks of life and from various regions around the world, thus creating a diverse and stimulating society. |
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GENERAL INFORMATION
An offshore company in Labuan can take two forms. Potential offshore investors can either set up an offshore company or a foreign offshore company, either by incorporating or registering their companies to participate in the offshore activities and to enjoy the attractive tax treatment provided under the Labuan Offshore Business Activity Tax Act 1990.
The company must also employ the services of a trust company which is incorporated under the Companies Act 1965 and registered under the Labuan Trust Companies Act 1990 to discharge its statutory obligations.
As for banking and insurance and insurance-related business, these activities need to be licensed by the Authority. Applicants for licenses to conduct offshore banking or insurance or insurance-related business or other financial activities need to satisfy certain entry requirements.
The entrants are only those applicants with an impeccable track record and international repute which have the necessary expertise and genuine intention to base their business legitimately in Labuan.
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Other new activities that have been promoted are trust businesses, fund management, and Islamic financial services. As at March 2000, nearly 2,320 offshore companies including 20 trust companies had set up operations in Labuan.
Of the total offshore companies, 61 are offshore banks and 55 are insurance or insurance-related companies. While the 20 trust companies provide the managerial, secretarial and administrative services for the offshore companies, there are several international auditing/accounting firms and several legal firms established in Labuan to provide the other support services. The number of offshore companies in Labuan is relatively small compared to the other offshore financial centers, partly because of the need to ensure a clean yet vibrant offshore center, attracting genuine business with solid reputation. The general requirements for the setting up of an offshore company include the requirement that it carries on business activities with persons other than the residents of Malaysia (except where permitted by the Controller of Foreign Exchange, the Offshore Banking Act 1990 and the Offshore Insurance Act 1990) and deals in currencies other than the Malaysian Ringgit, except for the purpose of defraying administrative and statutory expenses and receiving fees and commissions for giving guarantees denominated in ringgit. | Judgment Proof Jurisdiction 
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Labuan has a tropical climate, which is warm and humid throughout the year. Daytime temperatures average 30°C with two seasonal monsoon periods stretching from April to June and from September to December.
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POPULATION:
The Island of Labuan covers an area of approximately 92 sq. km, and has an estimated population of 50,000.
POLITICAL STRUCTURE: The Federal Territory Of Labuan is part of Malaysia and responsibility for its administration falls directly under the Prime Minister’s Department. Malaysia is a multi-racial and multi-religious nation consisting of 13 States (11 states in Peninsula Malaya and 2 states in the Borneo Island) and two Federal Territories (which are the capital, Kuala Lumpur, and Labuan. Parts of it were formerly under British control, but it obtained independence on 31 August 1957. On 16th September 1963, Malaysia was formed with the joining of Sabah, Sarawak and Singapore (Singapore left Malaysia in 1965). Malaysia is a member of the British Commonwealth. INFRASTRUCTURE AND ECONOMY: The form of Government is a Constitutional Monarchy with the King as Head of State. The Nation is economically strong and politically stable. Labuan has modern office space and telecommunication facilities. More than 50 of the world’s top banks have branches in Labuan. Lloyd's Funds International is the leading global financial firm that meets critical financial needs for business enterprises, governments, and individuals. The firm advises on corporate strategy and structure, raises capital, makes markets in financial instruments, and manages investment assets. Lloyd's Funds also commits its own capital to promising enterprises and invests and trades to capture market opportunities. | 
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CURRENCY: The Malaysian currency is the Ringgit. Apart from certain exceptions, offshore companies in Labuan are required to carry on business in a foreign currency.
EXCHANGE CONTROL: Labuan Offshore Companies are treated as non-resident for the purposes of the Exchange Control Act 1953.
TYPE OF LAW: The Malaysian legal system is based on the English model. Special laws applicable to the offshore industry in Labuan have been enacted. Arbitration is permitted. Disputes are heard in camera. Final appeal lies with the Supreme Court. PRINCIPAL
CORPORATE LEGISLATION:
On 6th November 1989, the Government of Malaysia declared the Federal Territory of Labuan as an International Offshore Financial Center. The following statutes apply:
COMPANY INFORMATION: TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT: Offshore Company. | Your Road To Success 
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PROCEDURE TO INCORPORATE: Submission to the Registry of the Memorandum and Articles of Association, consent to act as a director form, Statutory Declaration of Compliance and the requisite fee.
RESTRICTIONS ON TRADING
PERMITTED TRADING OF AN OFFSHORE COMPANY: An Offshore Company shall only carry on business in, from or through Labuan. An Offshore Company may not: carry on business with a resident of Malaysia except as permitted by the Offshore Banking Act 1990; carry on the business of Banking or Insurance or such similar business unless it is licensed so to do under the Offshore Banking Act 1990 or the Offshore Insurance Act 1990; carry on business in the Malaysian currency except for defraying its administrative and statutory expenses; carry on business of shipping or petroleum operations in Malaysia or carry on business as a trust company.
EXCEPTIONS TO CARRYING ON BUSINESS WITH RESIDENTS OF MALAYSIA: An Offshore Company is not treated as carrying on business with residents of Malaysia if it makes or maintains deposits with a person carrying on business in Malaysia; it makes contact with professional advisers carrying on business in Malaysia; it prepares and maintains books and records in Malaysia; it acquires or holds any lease or property for operational purposes or accommodation of its employees; it holds directors’ or members’ meetings within Malaysia; it holds shares, debt obligations, or other securities in a company incorporated under the Offshore Companies Act 1990 or in a domestic company, or holds shares, debts obligations or other securities for the purposes of a transaction entered into in the ordinary course of a money-lending business.
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POWERS OF COMPANY:
A company incorporated in Labuan has the same powers as a natural person.
LANGUAGE OF LEGISLATION AND CORPORATE DOCUMENTS: English. SHELF COMPANIES AVAILABLE: No. TIME TO INCORPORATE: 48 hours. NAME RESTRICTIONS: Names resembling the name of a company incorporated or registered under the Companies Act 1965 are not acceptable. Names which in the opinion of the Registrar suggest royal or government patronage. Names, which the Registrar considers undesirable, will be rejected. LANGUAGE OF NAME: Offshore companies are allowed to have named in a foreign language, provided they use the Latin alphabet. NAMES REQUIRING CONSENT OR LICENSE: Bank, building society, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents. | The Secluded Jurisdiction 
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SUFFIXES TO DENOTE LIMITED LIABILITY: Corporation, Incorporated, Limited, Sociètè Anonyme or Sociedad Anonima or the relevant abbreviations. If the Malaysian word Berhad is used then it must be preceded by "(L)" to denote that the company is incorporated in Labuan.
DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES: No.
COMPLIANCE
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AUTHORIZED AND ISSUED SHARE CAPITAL:
The standard authorized capital is US$ 10,000; divided in to 10,000 shares of US$ 1. The minimum issued capital is one share, which may be fully or partly paid.
CLASSES OF SHARES PERMITTED: Registered shares of par value, preference shares, redeemable shares and shares with no voting rights. BEARER SHARES PERMITTED: No. TAXATION: Offshore Companies that are trading pay 3% on net audited profits or the sum of RM 20,000. Offshore Companies that do not trade do not pay tax. DOUBLE TAXATION AGREEMENTS: Labuan, being a region of Malaysia, is party to over forty double tax agreements. The countries include: Albania, Australia, Austria, Bangladesh, Belgium, Canada, China, Czech Republic, Denmark, Finland, France, Germany, Hungary, India, Indonesia, Italy, Japan, Korea, Malta, Mauritius, Mongolia, Netherlands, New Zealand, Norway, Pakistan, Papua New Guinea, Philippines, Poland, Romania, Saudi Arabia, Soviet Union, Singapore, Sri Lanka, Sudan, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Vietnam, Yugoslavia and Zimbabwe. LICENSE FEES RM 2,600 per annum. | Peaceful Jurisdiction 
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FINANCIAL STATEMENT REQUIREMENTS: A set of accounting records must be kept in Labuan. Non-trading (i.e. investment and holding companies) and trading companies which elect to pay tax of RM 20,000 p.a. are not required to file financial statements.
Such companies are exempt from appointing an auditor if they are not a licensed offshore bank or insurance company, did not invite the public to subscribe for shares or debentures or to deposit money with or lend money to the company and the members of the company have resolved that no auditor be appointed.
A trading company, which pays 3% of audited net profits, is required to appoint an auditor and file audited financial statements.
DIRECTORS: The minimum number of directors is one. Corporate directors are allowed. Directors may be of any nationality and need not be resident in Labuan or Malaysia.
COMPANY SECRETARY: A Labuan company must have a resident company secretary, who must either be an officer or a subsidiary of a licensed Labuan trust company. Additional company secretaries, who need not be Malaysian resident, may be appointed.
SHAREHOLDERS: The minimum number of shareholders is one.
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Mailing, Fax, Telephone And Office Facilities:
As part of the domiciliary service fee we provide clients with a registered office address in the country of incorporation but clients may find it convenient to arrange for mail forwarding, fax and telephone facilities through our Switzerland, The Bahamas Islands, London or other Lloyd's Offshore Group offices. This service may be especially useful where, for example, the company is opening bank accounts. Normally the bank would address statements and other correspondence to the company at the address of the client but this results in a loss of confidentiality in that the connection between the company name and the client will be automatically made.
To safeguard against this mail can be directed to our offices and we can re-mail those letters in a plain envelope addressed to the client or otherwise as the client directs. An additional advantage of using our re-mailing services is that the provision of a re-mailing address through one of our prestigiously located offices in the onshore jurisdictions may allow the offshore company to appear to be domiciled on-shore and thereby give that company an added degree if respectability. For example, your offshore company could quote Lloyd's Offshore Group London office address on its letterhead and thereby appear to be domiciled in the UK. This procedure is particularly attractive if the Hong Kong address is used as a Hong Kong company is not required to quote its registered office address on its letterhead. Thus if an offshore company were to quote a Hong Kong address it would be indistinguishable from the letterhead, from a normal Hong Kong trading company.The charge for this service is only $275 per annum. Trust Services: Using a trust to own the shares of an offshore company can result in very substantial tax and non-tax related advantages which will accrue both on death and during the lifetime of the trust settler. These advantages may include: Saving Of Inheritance Tax: On death, the Inheritance tax which would normally be assessed on the value of shares would generally be eradicated. Asset Protection: Assets placed into trust are generally beyond the reach of creditors who might arise as a result of financial difficulties, divorce proceedings, litigation, etc. Avoidance Of Probate: A trust provides a means whereby assets can be smoothly passed on to the next generation without the disruption, delays substantial costs, loss of confidentiality associated with the probate procedure which necessarily follows when assets are bequeathed by will. Continuity: Trusts provide a means whereby assets can continue to be administered in accordance with the wishes of the settlor after his death so the weak can be protected from others and the spend-thrift can be protected from himself. Lifetime Tax Savings: During lifetime, substantial income and capital gains tax advantages may result from setting up the trust. Using the service of one of our licensed trust companies, we are pleased to act as trustee for a suitably drafted discretionary trust and the cost of this service would be from US$500 for setting up the trust deed and from US$500 per annum for the provision of trustee services. Other Services: Lloyd's Offshore Group provides a wide range of administrative and documentary services including, but not limited to legalization and notarizing of documents, credit cards, yacht and ship registration, invoicing, documentary trade services, trade finance applications, accounting, consulting and immigration services. VIP Package: For one payment US$599 Lloyd's Offshore Group will provide the following:
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Labuan; The Quiet Jurisdiction
Labuan; Peace Of Mind Jurisdiction
Labuan; Almost Heaven
Labuan;
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Confused?
The average person is frequently confused by the complexity of international tax planning and discouraged by the substantial costs involved in an offshore company formation or registering of a bank or trust in a tax haven. The registration costs and ongoing yearly administration expenses frequently exceed what the average person could save in taxes. Lloyd's Offshore Group has a new program to answer those concerns. We provide the simple, secure, private and low cost answer for the person who is just starting out or the veteran who now understands that simplicity is the essence of genius. Our survey has shown that this solution answers all of the needs for 100% of the persons seeking to go offshore. |
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The program includes bearer shares so that complete anonymity is guaranteed, documentation and support services so that you can open a financial account under your complete control, where and when you wish, and flexibility so that you can change your financial affairs to reflect your future needs.
We trust that we have clarified the intriguing world of Labuan Offshore Tax Exempt Company Formation Programs. We will be happy to answer any questions you may have, relating to this opportunity and provide you with additional details regarding any of our devoted services.
If you would like to obtain further details of the legislation
surrounding the formation of an International Business Company (IBC) In Labuan
or wish to discuss any matter in complete confidence, please
click here
to contact:
Mr. John Cooper
Lloyd's Offshore Group
World-Wide Incorporation Services
Please click here to explain us the full particulars of your situation and what you wish to accomplish. We will review your situation very carefully and offer to you a custom fitted solution. 95% of the time the solution will be simple to understand and 100% of the time it will be the least expensive alternative.
| Please feel free to contact Lloyd's Offshore Group if you believe the formation of a Labuan Tax Exempt Company at the present time may be appropriate in your particular situation. Any communication with us is considered PRIVILEGED and CONFIDENTIAL. |
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Lloyd's Offshore Group is in a position to assist new and established clients in opening personal and corporate offshore bank or trust accounts, denominated in almost every currency, in over 125 of offshore jurisdictions world-wide, including:
New Zealand, Australia, Chile, The Dominican Republic, Ireland, Argentina, Belize, Brazil, Spain, Italy, Costa Rica, Venezuela, Uruguay, Prague, Bodrum, The Spanish-Moroccan Tax Havens, The Madeira Tax Haven of Portugal, The Jamaican Free Trade Zones, The Dominican Republic Free Trade Zones, Campione D'Italia, Andorra, Poland, The Eastern Turkish Border and Tbilisi, Mozambique, Guatemala, The Virgin Islands, The Philippine Islands, and Anguilla are just some of the countries and places featured.
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There is only one Lloyd's Funds. Our scope, financial strength, balance, depth of talent and integrity have made us our clients' trusted global advisor. |  |
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