Labuan is the only jurisdiction in Asia that offers Foundation structures. Labuan Private Foundation is a legal entity fully protected by Labuan Foundation Act 2010. It is also one of the cheapest jurisdiction to set up and maintain.
Labuan Private Foundation is truly a perfect wealth management tool. It is a hybrid of a Company and Trust. Here are some key advantages of the Labuan Private Foundation:
v You have 100% control all the time
v Full control on how your foundation is to be structured and managed, types of assets to hold and beneficiaries with freedom to change anytime
v Can be set up by individuals or corporations and founder can be the beneficiary
v Unenforceability against any legal claims
v Duration of foundation can be perpetual or fixed time of your choice
v No minimum amount of assets required to be injected
v No tax on distribution to beneficiaries
v Low corporate tax of 3% on trading activities or 0% tax as investment holding
v Able to hold Malaysian assets! Income derived from Malaysia assets are subject to 24% tax
v No withholding tax and inheritance tax
v Can be used as charitable purposes
v Protected by highest degree of confidentiality
v It can be re-domiciled to another country of your choice at any time
Should you need further information, please do not hesitate to contact Bestar RW William.
