The benefits of conducting or doing business from an offshore centre are numerous. The prime of which is the fact that in most offshore centres no or minimum tax is levied on profit derived from offshore business. Nevertheless it should be remembered that some offshore businesses must be conducted with valid licence. We have experience in assisting our clients in applying for various licences in Labuan IOFC, the UAE, etc. Such businesses are banking, credit services, brokerage, insurance, fund management, various free zone licences, etc.
Whilst you can make an application on your own, you may also appoint us during the application stage. If we are appointed, during the application process we are your “conduit”, receiving correspondence from you and the authorities. We will send your application forms, advise you on completion of the forms, relay your inquiries to the authorities or vice versa, advise on the documents required and its sufficiency, etc. We will submit complete documents on your behalf and attend to all inquiries, and where necessary attend meetings and apply for extension of time to file certain documents.
This is normally done once approval for a licence is granted, but before a licence is extracted. At this stage we will incorporate your company in accordance with the structure that you require, including drafting suitable M&A for your company. Once incorporated we will provide the following;
If you require an office in Labuan, Brunei or the UAE we could help you with:
If your proposed business is a leasing of vessel, we will apply for a leasing licence on your behalf. In addition to the above services we also apply for your ship to be registered as Malaysian ship at the Labuan Ship Registry. If your proposed business is promotion of mutual fund, we can apply for the licence to operate the fund and act as trustee to the fund.
Most licences issued will stipulate that physical presence must be established. This in most cases means that an office and at least a manager resident in a centre are required. Whether you need to establish physical presence to satisfy licensing requirement or due to business necessity we can assist you in several ways. Due to our knowledge of the local conditions we can recommend you office location and premises that meet your budget and other requirements. If renovation work is required we can recommend you local contractors with a declaration that we do not receive any benefit from such recommendation from the contractors. Where other functionalities like telephone, internet and fax lines are required we will assist you in the application for these lines. Bank accounts and courier accounts too can be established on your behalf, all the above services at a reasonable fee.