| 1) | | Labuan offers the businessman a place to focus his business through the use of Labuan companies as there are many advantages: -
The following are some of the advantages: -
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- There is no exchange control restrictions;
- Time zone for Asian Market;
- Strategic location and proximity to several regional financial centres;
- Enjoys good communications facilities;
- Broad legislative base;
- Multi lingual work force;
- Liberal Immigration Policy for Insurance of work permits for expatriates employed by Labuan companies based in Labuan;
- Low operation costs.
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| 2) | | There is an English speaking work force and multi lingual work force. Recently, OECD passes judgement and it is noted that Labuan was classified in Group 2.
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| 3) | | There are new development in the Labuan Financial Industry to stimulate the fund industry, development of Islamic Money Market and the provision of a backroom services from Labuan to complement the nearby financial centres in Asia. A new Exchange, Labuan International Financial Exchange [“LFX”] was launched to facilitate the listing of funds and financial instruments. Soon LFX will be an International exchange complete with listing and trading capabilities.
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| 4) | | There is a renewed interest in Labuan International Business Financial Centre and a different perception of Labuan as just not only a centre for Brass plates offices but as a place where International Business can be conducted. The regulatory framework has also been comprehensively reviewed and enhanced with new products and services.
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| 5) | | Enhanced customer services: -
Labuan Financial Services Authority has introduced On-line Company registration scheme to promote efficient and paperless administration.
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