LOFSA (Labuan FSA)
LOFSA, which stands for Labuan Offshore Financial Services Authority, manages the Labuan International Business and Financial Centre (IBFC). Set up in 1990, it targets offshore companies who want to enjoy the following:
a) a low 3% income tax rate or flat RM20,000* for trading companies.
b) low operational costs.
c) liberal exchange controls.
d) readily available experienced talents.
and many more benefits.
Since inception, it has attracted over 6,500 offshore companies and 300 financial institutions, including some of the world’s biggest banks.
Visit the Labuan FSA official website for more information.
*RM20,000 is approximately US$6,030 (Source: Currency Converter)