Anyone here opened a Labuan corp for 'fund' purposes, ease access to banking (remotely - covid)?
Labuan Corpo Formation
- Thread starter wellington
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This article does a pretty decent job at explaining the type of funds that you can open in Labuan.
and if you go with the setup mentioned in the article, theoretically speaking, you should pay 0% on taxes, at least from the labuan side. where you reside and the laws in your country of residence plays a role too so you have to keep that in mind.
That depends on the type of bank that you go with. is it an offshore bank in labuan? is it a local bank with a branch in labuan? do you plan on opening an account with the neighboring countries like Singapore (since plenty of labuan companies have bank accounts in singapore), do you plan to open an account in the EU?
Also some allow remote opening while others require a physical presence. And if you opted with mainland banks, there are a couple of banks in KL that requires you to have some kind of representative office in the mainland (a marketing office is sufficient)
having said that, I have a list of banks that open accounts for Labuan companies. If you're interested, I can PM it to you.
Last edited: Nov 13, 2021
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