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Discover the wide range of business and financial services available in Labuan IBFC
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Credit Token Business
Company Management Business
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Factoring
1. What is the Labuan factoring business?
Labuan factoring means the business of acquiring debts to any person or institution at a discount or such other business as approved by Labuan FSA.
2. Who would be eligible to apply for a Labuan factoring licence in Labuan?
An applicant should meet the following minimum eligibility criteria:
A Labuan company incorporated or registered under the Labuan Companies Act 1990
A factoring company registered under the Banking and Financial Institutions Act 1989; and
A special purpose vehicle (SPV) set up to facilitate inter-company factoring transactions.
3. How is the income of a Labuan entity from the factoring business taxed?
The rate of tax imposed is 3% of audited net profits.
4. What is the governing legislation for the Labuan factoring business?
The Labuan factoring business is governed by the following Labuan laws:
Labuan Financial Services and Securities Act 2010
Labuan Business Activity Tax Act 1990
5. What are the fees payable by Labuan factoring companies in Labuan IBFC?
The fees payable are illustrated in the table below:
Type of Fees
Amount
Processing Fee
RM1,000
USD350
Annual Fee
RM40,000
USD13,000
All licensees are required to pay to Labuan FSA annual licence fees on or before 15 January of each year.
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