23381045
Description
Mind Map by Nur Aliah Rapaie, updated more than 1 year ago
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Created by Nur Aliah Rapaie
over 4 years ago
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Offshore Market
- Characteristics
- Tax regime
- Favourable (low tax with maximum of RM20,000 / $5,000)
No income tax, no stamp duties, no withholding tax, no
dividend tax, no service charges, etc)
- Favourable (low tax with maximum of RM20,000 / $5,000)
No income tax, no stamp duties, no withholding tax, no
dividend tax, no service charges, etc)
- Government control
- Little or no intervention (no FOREX control)
- Little or no intervention (no FOREX control)
- Regulation
- Regulated by Labuan Financial Services Authority (Labuan FSA) – globally recognized
regulatory structure)
- Regulated by Labuan Financial Services Authority (Labuan FSA) – globally recognized
regulatory structure)
- Location
- Labuan (independent state with its own laws) At national boundaries At sea – some distance
from the shores
- Labuan (independent state with its own laws) At national boundaries At sea – some distance
from the shores
- Participants
- Malaysians Foreigners, investors
Multinational companies
- Malaysians Foreigners, investors
Multinational companies
- Tax regime
- Offshore Company
- Offshore Trading company
- Generates profits by buying and
selling products or services to
customers in international
markets
- Dealing in banking, insurance, trading,
management, licensing and any activity which
is not an offshore non-trading activity
- Generates profits by buying and
selling products or services to
customers in international
markets
- Offshore non-trading company
- Activity is related to the holding of investments in securities, stocks, shares,
loans, deposits and immovable properties on its own behalf.
- Activity is related to the holding of investments in securities, stocks, shares,
loans, deposits and immovable properties on its own behalf.
- Offshore Trading company
- Labuan Financial Services Authority (Labuan FSA)
- Established in 1996 Purpose: develop &
administer Labuan International Business and
Financial Centre (Labuan IFC)
- Roles and functions
- To develop national objectives, polices
and priorities
- To focus on the development and
promotion
- To supervise the business and financial
activities and operations
- To administer and enforce the financial
services legislations
- To develop national objectives, polices
and priorities
- Established in 1996 Purpose: develop &
administer Labuan International Business and
Financial Centre (Labuan IFC)
- Labuan International Business and Financial
Center (Labuan IBFC)
- Provide large spectrum of
financial services and products
for corporations and
individuals (Islamic &
conventional)
- Key areas
- Highly flexible tax framework
- Progressive legislative environment
- Competitive operating costs
- Focused marketing efforts
- Strategic location
- Increasing holding companies establishment
- Leading the captive insurance business
- Active participants in Islamic finance
- Enhanced customer service
- Highly flexible tax framework
- Provide large spectrum of
financial services and products
for corporations and
individuals (Islamic &
conventional)
- Tax Structure
- Offshore Trading Activity
- 3 % of net profit per audited
account or RM 20,000
- 3 % of net profit per audited
account or RM 20,000
- Offshore Non-trading Activity:
- Not subject to tax
- Not subject to tax
- Both offshore trading and non-trading activity
- 3 % of net profit per audited
account or RM 20,000
- 3 % of net profit per audited
account or RM 20,000
- Offshore Trading Activity
- Labuan Business Activities
- Banking
- Savings account = min $5,000 Current account
Can withdraw using $, Sterling and Euro
- Savings account = min $5,000 Current account
Can withdraw using $, Sterling and Euro
- Insurance & Takaful
- For risk solution related to import export transactions, FOREX, etc
- For risk solution related to import export transactions, FOREX, etc
- Leasing
- Due to high demand for capital equipment especially in aviation, shipping, o&g industries.
- Due to high demand for capital equipment especially in aviation, shipping, o&g industries.
- Factoring
- Business of acquiring debts to any person / institution at a discount (as approved by Labuan FSA)
- Business of acquiring debts to any person / institution at a discount (as approved by Labuan FSA)
- Money Broking
- Arrange transactions between buyers and sellers in MM
- Arrange transactions between buyers and sellers in MM
- Commodity Trading
- Trade physical and related derivative instruments in any currencies other than MYR. The commodities include
petroleum, refined raw materials, chemicals, agriculture products, etc.
- Trade physical and related derivative instruments in any currencies other than MYR. The commodities include
petroleum, refined raw materials, chemicals, agriculture products, etc.
- Credit Token Business
- A business where a token (cheque, card, voucher, stamp, booklet, coupon, form, etc) is given to a person by the
person carrying on the business.
- A business where a token (cheque, card, voucher, stamp, booklet, coupon, form, etc) is given to a person by the
person carrying on the business.
- Company Management Business
- Provide treasury processing services (processing & confirming deals, preparing accounting records, maintaining
files, etc) & Islamic advisory services (consultancy, development of Islamic trusts, etc)
- Provide treasury processing services (processing & confirming deals, preparing accounting records, maintaining
files, etc) & Islamic advisory services (consultancy, development of Islamic trusts, etc)
- Banking
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