Is Labuan worth visiting?
Even though it is only a few hours by boat from the main tourist hub in Borneo, Kota Kinabalu, the island of Labuan hasn’t yet become a very popular destination for Western travellers. However, if you have the time Labuan is definitely worth including in your itinerary.
Is Labuan safe?
Labuan is very safe to travel in and is a very peaceful city. The residents of the city are also very friendly and nice people. Most of them jog through some of the most secluded roads of the island and never get mugged or robbed. If you are a health freak, then you can choose to do the same without any worry!
Is Labuan under Sabah?
The name of Labuan was later restored by the British and the island was administered under the British Military Administration together with the rest of the Straits Settlements. Labuan then on 15 July 1946 joined the North Borneo Crown Colony, which in turn became a part of the state of Sabah and Malaysia in 1963.
Is Labuan tax free?
Income tax exemption is given on 65% of the statutory income of any person from providing qualifying professional services in Labuan to a Labuan entity. Income tax exemption is given in respect of fees received by a non-Malaysian individual in his capacity as a director of a Labuan entity.
Is Labuan a tax haven?
Labuan is considered an tax haven due to its favorable tax structures for nonresidents and has become one of the preferred jurisdictions in Asia for offshore company formation since the Malaysian government made it into an international offshore financial centre with the passing of legislation in 1989.
Does Malaysian need passport for Labuan?
Tourists must go through passport control and have their passports stamped on the following occasions: arriving in Sabah or Sarawak from Peninsular Malaysia or the federal district of Pulau Labuan; exiting Sabah or Sarawak on the way to Peninsular Malaysia or Pulau Labuan; travelling between Sabah and Sarawak.
What is so special about Labuan?
Labuan is best known as a Southeast Asia financial center and for duty-free shopping. Most visitors consist of off-shore businesses and local bargain hunters. Only a handful of travelers make it to this island.
What is Labuan tax rate?
3%
The tax rate applicable to a Labuan entity is 3% on the chargeable income from Labuan trading activities only. This means the income from the Labuan non-trading activities (ie the holding of investments in securities, stocks, shares, loans, deposits or other properties) of a Labuan entity is not subject to tax at all.
What is Labuan trading activity?
Labuan trading activity includes banking, insurance, trading, management, licensing, shipping operations or any other activity which is not a Labuan non-trading activity.
Why is Labuan tax free?
The tax rate applicable to a Labuan entity is 3% on the chargeable income from Labuan trading activities only. This means the income from the Labuan non-trading activities (ie the holding of investments in securities, stocks, shares, loans, deposits or other properties) of a Labuan entity is not subject to tax at all.
Do Malaysian need visa to Sabah?
A valid passport (and visa wherever applicable) is required for of everyone entering Malaysia. A passport is also necessary for travel between Peninsular Malaysia and the East Malaysian states of Sabah and Sarawak, as well as interstate travel between Sabah and Sarawak.