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{"id":987932,"date":"2024-02-27T14:53:08","date_gmt":"2024-02-27T14:53:08","guid":{"rendered":"https:\/\/labuanbusinessadvisory.com\/?page_id=987932"},"modified":"2024-02-27T14:53:08","modified_gmt":"2024-02-27T14:53:08","slug":"guide-to-setting-up-a-labuan-life-insurance-business","status":"publish","type":"page","link":"https:\/\/labuanbusinessadvisory.com\/labuan-licenses\/labuan-insurance-licenses\/guide-to-setting-up-a-labuan-life-insurance-business\/","title":{"rendered":"Guide to Setting up a Labuan Life Insurance Business"},"content":{"rendered":"
\n

\n\t\tLabuan Life Insurance Unveiled for Global Investors\n\t<\/h2>\n\t

Within the Labuan International Business and Financial Centre (Labuan IBFC), a Labuan life insurance business is an insurance business linked to policies safeguarding policy money payments. These payments, guaranteed upon death or the occurrence of contingencies tied to the termination or continuation of human life, form the core of this insurance niche. The purview also includes any incidental extension of cover and reinsurance of such business, providing a financial safety net. This comprehensive approach distinguishes Labuan life insurance businesses, embracing a holistic perspective to cater to the multifaceted needs of policyholders.<\/p>\n

\n\tSee Also\n\t<\/h4>\n\t\n\t\t\t\t\tComparison of Labuan with Other Jurisdictions\n\t<\/a>\n\t\n\t\t\t\t\tFAQs on Labuan Insurance Licenses\n\t<\/a>\n

\n\t\tWhy Choose Labuan\n\t<\/h2>\n\t

Strategic location to tap into the Asia Pacific market<\/p>\n\t

Shared time zone with major Asian cities for seamless interaction<\/p>\n\t

Excellent infrastructure and regulations within the Labuan IBFC<\/p>\n\t

OECD whitelist jurisdiction status<\/p>\n\t

Recognised by prominent exchanges for entity listing (such as Hong Kong, Singapore, Malaysia, Australia, and Dubai Exchanges)<\/p>\n\t

100% foreign ownership with a minimum requirement of 1 shareholder and 2 directors<\/p>\n\t

Low corporate tax rate of 3%<\/p>\n\t

Absence of withholding tax, stamp duty, GST, import duty, sales or service tax, capital gains tax, inheritance tax<\/p>\n\t

Void of tax on dividends to shareholders<\/p>\n\t

Void of tax on director fees for foreign directors<\/p>\n

\n\t\tLicensing & Operational Requirements\n\t<\/h2>\n\t\t\tOperational Requirements of a Labuan General Insurance Business\t\t\n\t\t\t\t