Offshore Accounts
We have expertise in developing effective strategies to enable our clients to enjoy, among others, the taxation benefit obtainable through the use of low tax jurisdiction such as the Labuan Offshore Financial Centre.
Offshore Companies enjoy a very low tax rate of 3% on net audited profit arising out of their offshore trading activities. They can also make a choice to pay flat rate of tax that of RM20,000 Income derived from non-trading activities including dividend received is not subject to tax.
The legislation governing offshore activities are:
- Offshore Companies Act, 1990
- Labuan offshore Business Activity Tax Act 1990
- Labuan Trust Companies Act 1990
- Offshore Banking Act 1990
- Offshore Insurance Act 1990
Our Services Include:
- Maintenance of accounting records and preparation of periodic and annual accounts.
- Preparation of management accounts and cash flow statement for management control and borrowing propositions.
- Assist in incorporating of new offshore companies.
- Assist in selecting bankers and other advisors.
- Provision of registered office.