Trade conveniently without barriers with a Labuan work permit Get to know about the advantages of acquiring a Labuan work permit through this blog to trade conveniently in the area. Malaysia is developing as a coveted destination for foreigners for establishing companies and doing business in the country. If you are interested in setting up an International Business in Malaysia, Labuan offers great opportunities. Labuan is a mid-shore jurisdiction in Malaysia. One of the best options is forming a Labuan International Company with proper Labuan company registration. There are innumerable benefits of such a company. If you are a foreigner doing business in Labuan, you will have 100% ownership of the business. You will need to pay a corporate tax of just 3%. Along with these two vital advantages, Labuan companies can now deal with local Malaysians by using foreign and Ringgit Malaysia currencies!
One of the best things is that Labuan company registration is usually quite fast. Once that is done, you can apply for a Labuan work permit. With this permit, you can bring your family or your dependents to Labuan and manage your business from there. You can initiate the application process while you are in your home country or any other place. The Labuan Authorities usually approve the application within 90 days. Once the approval comes, the applicant, along with the dependents, has to fly to Malaysia for a minimum of 35 working days. This is required for the landing formalities like opening a company bank account, visa stamping, etc.