A General Overview on Labuan, Malaysia's International Offshore Financial Center
Labuan, Malaysia's International Offshore Financial Center was established in 1990 and many efforts has been placed by the government to develop Labuan into one of the Asia's premier international offshore center. However, not many people are aware of the existence of this offshore cent...
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| Main Author: | |
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| Format: | Project Paper Report |
| Language: | English English |
| Published: |
1998
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| Online Access: | http://psasir.upm.edu.my/id/eprint/8112/1/GSM_1998_25_A.pdf http://psasir.upm.edu.my/id/eprint/8112/ |
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| Summary: | Labuan, Malaysia's International Offshore Financial Center was established in 1990 and
many efforts has been placed by the government to develop Labuan into one of the
Asia's premier international offshore center.
However, not many people are aware of the existence of this offshore center including
Malaysians. This paper is set with an objectives to introduce Labuan to Malaysians and
the world.
Firstly, an introduction on the location and history- of Labuan is discussed. This follows
by a brief introduction of regulatory bodies governing Labuan. Further discussion will
be on the type of services provided and procedure to get on to those business. This
paper then continue to elaborate tax regime and legislation in Labuan respectively. Then
a comparison between Singapore, Hong Kong and Labuan as Asia's premier offshore
financial center is made. Lastly a discussion is then made on government's role in
promoting Labuan IOFC
The information and materials for this paper were mainly collected from articles from
business magazine and Labuan website.
Although Labuan is relatively small compared to other offshore financial centers in term
of number of companies and value of funds managed, it has the potential to become
one of the popular offshore center in Asian one day in the future. |
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