Today Labuan attracts investors who are passionate about the organization of the exchange of cryptocurrency. Thanks to this jurisdiction, it is possible to start your own business with foreign management.
The crypto exchanger is monitored by the Labuan Financial Services Authority. To do business well after obtaining a license will require strict compliance with all the rules and laws of Malaysia, especially the law against the disposal of funds or property obtained as a result of illegal activities.
Entrepreneurs have the right to create their own scheme for exchange using an electronic wallet. This may include such types of services as exchanging one type of cryptocurrency for another; exchange of fiat currency for cryptocurrency and vice versa. Advantages of obtaining a license in Labuan for exchange of cryptocurrency. Foreign property. Malaysian local founders will not be required.
Income tax is only 3%. It can also be a designated amount of 5 thousand US dollars. No taxes on: interest, royalties, license fees, maintenance, capital growth, heritage, dividends. Lack of currency control. No tax on the acquisition of property (stamp duty).
There is no import fee. In addition, entrepreneurs who have received permission for a crypto exchanger in Labuan can: use more than 70 Malaysian double tax treaties; reduce taxes for overseas workers by 50% (regarding bosses, they are fully exempt from paying taxes); get a work visa in Malaysia for a period of two years.
There are a number of mandatory conditions that must be met by every entrepreneur who wants to get permission: the presence of an active permit for the exchange of cryptocurrency in another jurisdiction (if any); minimum work experience: 1–2 years. Proof of cash in the amount of 1 million US dollars.
In order to obtain permission for crypto exchange in Labuan, you need to go to the lawyers of the company Eternity Law International. We will help you arrange a crypto exchanger on Labuan and support you at every stage of this process. Details by phone, which are published in the contacts of the company.