Author: Clament Chua

Clament Chua

Clament started his career with Ernst & Young before joining The National Australia Bank Limited from 1999 to 2005. In 2009 he founded CS Trust to provide tailored incorporation solutions to international clients.

The Impact to Labuan Leasing Company of the new Malaysia Finance Bill 2018 passed on 10 December 2018 The amended Finance Bill 2018 passed by the Dewan Rakyat on 10 December 2018 prescribe that a tax deduction will not be allowed on payments by Malaysian residents to Labuan companies, subject to any rules that may be prescribed by the Minister of Finance. It is expected…More

The Inland Revenue Board of Malaysia or the Lembaga Hasil Dalam Negeri has issued many tax incentives for Labuan Companies.  We explore some of these Income Tax Exemption Orders. 1. Income Tax (Exemption) (No.2) Order 1998 Rental income for the rent of any asset in Malaysia payable to none resident of Malaysia are subject to Witholding Tax in Malaysia.  Witholding Tax is a tax amount…More

On Friday, 02 November 2018 during the 2019 Budget delivered by the Minister of Finance Mr Lim Guan Eng in the Malaysia Parliament titled “A Resurgent Malaysia, A Dynamic Economy, A Prosperous Society” it was announced that: Tax ceiling of RM 20,000 under the Labuan Business Activity Tax Act 1990 will be removed and the current tax rate of 3% will be maintained. Nevertheless, the…More

WHAT IS COMPANY MIGRATION OR RE-DOMICILIATION? Company migration or re-domiciliation occurs when a company undergoes a relocation process from one jurisdiction to another, while retaining its legal identity. The company in its origin country incorporated do not need to go through liquidation process and can be re-domicile to Labuan International Business Financial Centre (IBFC).  There is no need to transfer its existing assets and liabilities…More

One of the most questions we received on top of “how to incorporate a Labuan company“ is “how close a Labuan company“ “How to close a Labuan company” is more of a simple layman terms which should be used as “how to dissolve a Labuan company“.  There are two ways on how to dissolve a Labuan company: 1. Voluntary Winding Up Under Section 131A of…More

Compared to other offshore jurisdictions, incorporating in Labuan needs fewer documents. Roughly comparable to opening a bank account. You can find a tentative list below. Depending on your specific situation, additional documents may be needed. Passport (to be certified true copy by Commissioner of Oath, Notary Public or Embassy) Utility Bill to proof home resident (to be certified true copy by Commissioner of Oath, Notary…More

Clients often ask us about the total cost of incorporating and running a Labuan company. This post summarizes the main expenses. Compared to other international offshore centers, the cost in Labuan is quite reasonable. Cost of New Incorporation depends on the type of company you intend to set up and the amount of the paid up capital.  The type of company for example can be…More

The process and time frame for the new Labuan Incorporation & Bank Account are as follows: 1. Name Reservation – 2 days 2. Incorporation Company – 3 days 3. Apply Letter of Information for Bank Account Opening – 1 week 4. Client come to Labuan for Bank Account Specimen & Interview – 1 Day 5. Bank Account open – 3 weeks 6. Bank token for…More