Recent changes to Labuan Business
Can someone just qualify for me as to whether there have or have not been changes to the Labuan Business Set up please?
Do I have to have a monthly income of 10,000 RM and share holders worth 250,000 RM? I have found 50 pages advertising the setting up on a Labuan business and NOT mentioning this new change and just TWO pages who have mentioned it. It seems like the Malaysian Gov is trying to crack down on the amount of immigrants in Malaysia? Which seems bizarre. The Labuan entry option seemed like the best route in for us but now it looks like we might have to apply for a LTSV pass. |
re: Recent changes to Labuan Business
Just to avoid confusion that is Labuan and the Malaysian Ringitt is RM or MYR.
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re: Recent changes to Labuan Business
LOL. Apologies.
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Re: Recent changes to Labuan Business
Originally Posted by ChocolateOrange
(Post 11921810)
LOL. Apologies.
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Re: Recent changes to Labuan Business
I heard from a friend that the rules for a Labuan business have been changed since 2017, making it less interesting. I haven't been able to find a detailed overview/description of the new rules.
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Re: Recent changes to Labuan Business
Originally Posted by SushiFan
(Post 12172084)
I heard from a friend that the rules for a Labuan business have been changed since 2017, making it less interesting. I haven't been able to find a detailed overview/description of the new rules.
And until today, the promised acknowledgment email from the Malaysian MOT for me to collect my RF thingamabob has yet to be seen. But, they've started collecting money from Singaporean-played cars since October of last year though - it seems money talks the loudest, on either side of the Causeway :lol::lol: |
Re: Recent changes to Labuan Business
Originally Posted by SushiFan
(Post 12172084)
I heard from a friend that the rules for a Labuan business have been changed since 2017, making it less interesting. I haven't been able to find a detailed overview/description of the new rules.
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Re: Recent changes to Labuan Business
Originally Posted by Stuck in Auckland
(Post 12172633)
Is this different from the setting up of a Labuan company?
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Re: Recent changes to Labuan Business
Originally Posted by SushiFan
(Post 12173201)
I do not know exactly what items have changed. Apparently the old rule was such that the (foreign) director did not have to pay income tax in Malaysia. This seems to have changed, but is also not visible in the bullet list you show.
Last year was changes to required paid up capital for work visa. So not relating to labuan company itself. |
Re: Recent changes to Labuan Business
Originally Posted by stepen
(Post 12175042)
Directors salaries to foreign director is tax free until 2020 (at least).
Last year was changes to required paid up capital for work visa. So not relating to labuan company itself. Gets better and better:lol: |
Re: Recent changes to Labuan Business
Originally Posted by stepen
(Post 12175042)
Directors salaries to foreign director is tax free until 2020 (at least).
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Re: Recent changes to Labuan Business
Originally Posted by SushiFan
(Post 12175110)
I have been told that this is not true any more. But it is only "hearsay" so I won't discuss it any further.
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