Offshore Company in Belize

Offshore Company in Belize

 

Offshore Company in Belize

Belize, formerly known as British Honduras., It gained independence from Britain in 1981 and has become famous for offshore company formation and tax optimization.

 

The Belize International Business Company (IBC) is the most popular form of offshore company structure.  As internationally recognized offshore center of Central America, the main advantages are the quick registration process, the stable political system and the high confidentiality in accordance with the national law. The national language is English, which simplifies the offshore company formation process considerably. The Belize Offshore Company is based on the Belize International Business Company (IBC) model.

A Belize International Business Offshore Company does not pay any tax on its worldwide profits to Belize authorities. Belize has not signed any double tax agreements.

The Belize Offshore Company is perfect for:

  • Internet commerce
  • Intellectual property management
  • The custody of movable and immovable property
  • Inheritance provisions
  • Stockbroker / forex
  • International business

The benefit of Belize offshore company:

  • Information about directors, shareholders and beneficial owners is not filed with the Belize Registry and not available to the public
  • No foreign exchange control.
  • Inexpensive annual support
  • No requirements of a minimum paid up capital
  • Any individual and legal entity may become a shareholder, director and officer
  • Exempt from all local taxes

Contact us

If you have further queries, please contact Us

Malaysia hotline:603-21418908;

Email: mytannet@gmail.com

TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my

 

 

offshore company registration

 

 

Labuan Company Annual Filing Compliance

Labuan Company Annual Filing Compliance

Every company have to complete the annual filing compliance as regulated by the local relevant authorities such as file annual return, held AGM, keep a proper record of accounting and information in the registered office and etc. Fail to comply all this annual procedure, the company and every officer of the company who is in default shall be guilty of an offence against to the Labuan Act.

annual return

Annual Return Filing

A Labuan company shall make an annual return containing the company particulars and accompanied by such copies of documents as are required to be included in the return. The return of a Labuan company not having a share capital shall contain the following particulars:

(a) The address of the registered office of the Labuan Company;

(b) Where the register of members is kept elsewhere than at that the registered office of the Labuan company, the address of the place where the register is kept;

(c) Particulars of the total amount of indebtedness of the Labuan company in respect of all charges, whether required to be registered with the Authority or not;

(d) all such particulars with respect to the persons who on the day to which the return is made up are the directors, managers or secretaries of the Labuan company as are required to be contained in the register of directors, managers and secretaries;

(e) The name and address of the auditor of the Labuan company; and

(f) Such other matters relating to the accounts of the Labuan Company;

** Fail to comply this Act, there is a penalty incur.

 

Maintenance of Company Secretary                                              

There is a service fee is payable for maintenance your company secretary, registered office and submission of annual return to the LFSA. Yearly renewal of company must be done before one month of your company anniversary date.

 

Completed Management Account and Taxation

A Labuan company shall cause to be kept proper accounting and other records as will sufficiently explain the transaction and financial position of the company. If the company is elect for 3% of corporate tax on net profit, an audit report is required whereas for election of MYR 20,000 tax payable, no audit is required. Non-trading / dormant / holding investment company is paying 0% tax. Financial year end for all Labuan Company is fall on every 31th of December.

 

Individual tax filling is payable when company pay income to employee, depend on their residential status. Non- taxable for all foreign source income receive by a non-Malaysia citizen of a Labuan entity. The rate of tax ranges from 0% to 26% for resident individuals and a flat rate of 26% for non-resident individuals.

 

Contact Us

If you have further queries, please contact Tannet

24 hours Malaysia hotline:603-21418908;

24 hours Hong Kong hotline:852-27837818;

24 hours China hotline:86-755- 36990589;

Email: mytannet@gmail.com

TANNET GROUP: http://www.tannet-group.net , http://en.tannet.com.my

The Advantages of Labuan Company Registration

The Advantages of Labuan Company Registration

Labuan Company Registration is a hot choice for foreign investors to setup and extend business in oversea. It located at the hub of the island, with Singapore, Hong Kong and Tokyo coexistence at the same time zone, making it a very convenient area, Georgia tax havens. The Government of Malaysia in April 16, 1984 announced Labuan as a federal region. Today, it is an international offshore financial center issued by the Companies Act and in the same year the establishment of offshore Labuan Offshore Business Activity legislation to ensure that Labuan offshore companies enjoy a professional and quite flexible corporate structure.

 

offshore

The Advantages of Register Labuan Company

• 100% Ownership and Control by Foreigners 

• Corporate Tax rate of 3% on audited Net profits  / a maximum tax of MYR 20,000 regardless of your company turnover.

• No Corporate Tax for Investment Activities.

• No Sales Tax and No Government Service Tax.

• No Goods & Service Tax (GST) or Value Added Tax (VAT).

• No Capital Gain Tax.

• No Withholding Tax for payment of Royalty, Lease Rental, Interest Income, Technical Services or Management Fee.

• No tax on dividend remitted back to home countries.

• Required to complete management account, audit and taxation each year

• No Personal Income Tax on Director Fee received from Labuan Company by Non-Malaysian Citizen Director.

• Non-compulsory of Audit (Except for license activities such as Banking, Insurance and Funds Management which must be audited).

• Protection of Private and Confidential Information. Company search by any third party is not available unless written authorization letter obtained from the Company Director or Shareholders.

• Able to issue work permit from Labuan and thus allowed to stay and work anywhere in Malaysia.

• No exchange control restrictions.

• Low operation costs such as rent, work force compared to other major cities in Asia.

• Strategic located and proximity to several regional financial centers such as Singapore and Hong Kong.

• Time zones proximity for Asian, North Asia, Australia and New Zealand.

• Can open company bank account in everywhere. 

• 2 years renewable multiple-entry Business Visa available for you and your family with children age below 21.

• Your parents can be included in the 2 year Business Visa 

• Time zones proximity for Asian, North Asia, Australia and New Zealand 

 

Contact Us

If you have further queries, please contact Tannet

24 hours Malaysia hotline:603-21418908;

24 hours Hong Kong hotline:852-27837818;

24 hours China hotline:86-755- 36990589;

Email: mytannet@gmail.com

TANNET GROUP: http://www.tannet-group.net http://en.tannet.com.my 

Labuan Work Permit Application

Labuan Work Permit Application

For Labuan work permit application under Labuan Trading Company, applicant must fulfill the following criteria:

1) The expatriate shall be paid a minimum salary of RM 10,000 per month or its equivalent in any foreign currency.

2) The application for work permit should be in respect of the following positions in Labuan entity as specified by the Immigration Department of Malaysia:

  • Top management e.g. Executive Director, Managing Director, Principal Officer, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer.
  • Professional e.g. Accountant, Lawyer, Consultant, Underwriter, Economist, Advisor, Engineer, Actuary, Trader (for those employed under Labuan International Commodity Trading Company).
  • Technical expert e.g. IT Specialist or other specialists related to Labuan trading activity.

 

3) The applicant should have the corresponding competencies or relevant working experience related to the position applied in line with the fit and proper requirements as per the Guidelines on Fit and Proper Person Requirements issued by Labuan FSA.

 

Labuan Work Permit Application n

Application Requirement

An application for work permit shall be submitted to Labuan FSA according to the latest checklist provided by Immigration Department of Malaysia and supporting documents must be certified by the following authorized officer in Malaysia:

  • Commissioner for oaths;
  • Notary public;
  • Certified public accountant;
  • Advocates or solicitor;
  • Company secretary; or
  • Malaysian/foreign embassies.

 

Where documents are not in the national language of Malaysia or in English, it must be accompanied with duly certified/notarized English translated version of the documents. The translation of the documents can be made in the country where the applicant is residing and certified by Malaysian high commission/embassy in the country.

 

Notes:

  • The applicant from high-risk jurisdiction as listed by the Financial Action Task Force and other countries as may be specified by Labuan FSA may be required to attend an interview session which will be conducted by Labuan FSA.
  • The recommendation for work permit application is for a maximum period of two years. Renewal of application must be submitted to Labuan FSA at least three months before the work permit expires.


 

Contact Us

If you have further queries, please contact Tannet

24 hours Malaysia hotline:603-21418908;

24 hours Hong Kong hotline:852-27837818;

24 hours China hotline:86-755- 36990589;

Email: mytannet@gmail.com

TANNET GROUP: http://www.tannet-group.net , http://en.tannet.com.my

Labuan Corporate Tax

Labuan Corporate Tax

The federal territory of Labuan is a group of tropical islands off the coast of Sabah and was established as Labuan International Business and Financial Centre (Labuan IBFC) to attract international financial activities.  Right from the start, the Malaysian Government had taken pains to avoid the label 'tax haven' for Labuan, and had been vigilant against being used for international money laundering. However, its tax rate of 3% on net profit or a flat amount of RM20, 000 per year clearly calls to mind as a tax haven.

 

Labuan Corporate Tax

Tax Rate in Labuan

The corporate tax of a Labuan company is very flexible and simply by declares as one of the following:

  • Dormant, non-trading and investment holding company – no corporate tax.
  • For trading company, there is 2 tax rate:

(1) A tax rate of 3% on net profit

(2) An amount of RM 20,000 tax regardless of your company turnover

  • For company having business with Malaysia company, it have to pay a 25% of corporate tax (not advisable)

 

All Labuan Company have their financial year end on every year of 31st December. Director has to prepare the management account and audit reports (for tax rate of 3%) submit to Malaysia Inland Revenue.  Company have to maintain management account, complete audit report, filed annual return, tax submission, Form E and Form BE (if applicable) to complete annual compliance procedure.

 

Labuan Non-Trading Activity

Labuan non-trading activities refer to the holding of investments in securities, stocks, shares, loans, deposits or any other by a Labuan entity on its own behalf.

 

Labuan Trading Activity

Labuan trading activities included banking, insurance, trading, management, licensing, shipping operations or any other activities not considered as a Labuan non-trading activity.

 

Contact Us

If you have further queries, please contact Tannet

24 hours Malaysia hotline:603-21418908;

24 hours Hong Kong hotline:852-27837818;

24 hours China hotline:86-755- 36990589;

Email: mytannet@gmail.com

TANNET GROUP: http://www.tannet-group.net http://en.tannet.com.my