The Labuan International Business and Financial Centre, known as Labuan IBFC was established more than 25 years ago to complement the activities of the domestic financial market in Kuala Lumpur and the development of economic activities in Labuan, an island off Sabah (Malaysian Borneo), which is under the jurisdiction of the federal territory in Malaysia.
What Labuan IBFC offers is a wide range of business and financial services such as: company incorporations (holding, trading, banking, leasing and shipping companies); fund management; special purpose vehicles; insurance (covers also reinsurance captive protected cell companies, Takaful and re-Takaful); and private wealth management.
At the same time in 2011, to remain competitive the Labuan IBFC introduced the global incentives for trading (GIFT) programme, a scheme set up to attract international commodity traders to take advantage of Malaysia, as their operational and trading base. Among the highlights of the GIFT programme are: three percent flat corporate tax rate; tax exemption; operate anywhere in Malaysia; 100 percent exemption on director fees paid to non-Malaysian directors; stamp duty exemption; and 50 percent exemption on gross employment income for non-Malaysian professionals.
Labuan IBFC has begun a roadshow to promote its business and financial services throughout Asia. The Centre recently collaborated with the Malaysian International Chamber of Commerce and Industry to launch its roadshow in Kuala Lumpur.
To find out more about Labuan IBFC, please visit www.libfc.com
Networking Session with the Labuan IBFC Organised by the Malaysian International Chamber of Commerce
President of MICCI, Datuk Wira Jalilah Baba presenting a momento to the Chief Executive Officer of Labuan IBFC, Danial Mah Abdullah.