Malaysia Hotline: +603- 2141 8908
In
order to prevent Labuan IOFC from being used to circumvent Malaysian laws by
locals, offshore companies are prohibited from having or maintaining commercial
relations with Malaysian companies located outside of Labuan. Offshore
companies are free of all restrictions in financial transactions by virtue of
their exclusively non-resident status, as defined by the 1953 Exchange Control
Act.
One
partner or shareholder is sufficient to form an offshore company. The Register
of Companies (ROC) places great importance on a company’s funds being adequate
to meet its business objective(s), so obvious imbalances will lead to delays or
even a refusal of registration.
It
is permissible for an offshore company to issue shares of different types and
with different rights. They must, however, always be registered shares whilst
bearer shares cannot be issued. The shares must be denominated in a foreign
currency or even be issued in multiple currencies, although this can lead to
complications at shareholders meetings when determining voting rights.
The
company must also appoint a Company Secretary who must ensure that the
provisions of company law are adhered to, and to conduct correspondence with
the authorities. Company Secretaries must be appointed by a trust company
licensed in Labuan. Shareholders meetings can be held in any country, even by
teleconference, if necessary.
Contact us
If you have further queries, please contact Tannet
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
24 hours Hong Kong hotline：86-755- 36990589;
Email: mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my