Tatiana Belova took part in Labuan Industry Annual Dinner organized by Labuan International Business and Finance Center. A great number of companies’ representatives, mainly heads of businesses, registered in a special economic zone ‘Labuan’ took part in the annual event.
Mandarin Re Ltd. was registered in the Federal territory of Labuan on the 18th May 2015. Labuan was chosen as a jurisdiction because of its strategic position in the very heart of the Asia-Pacific region. Labuan IBFC offers great business opportunities in this rapidly developing region and on a global scale.
Labuan International Business and Finance Center (Labuan IBFC) offers a midshore status, which provides clients’ confidentiality and the best international standards and practices. Its business-friendly environment based on a simple and attractive tax system is supported by a solid, modern and internationally renowned legal framework, which is guaranteed by the regulator, Labuan Financial Services Authority (Labuan FSA). Labuan IBFC boasts a wide range of cross-border transaction facilitating services under its jurisdiction, including insurance and reinsurance.
Recent changes in taxation policy had a positive impact on Labuan IBFC, as Malaysia, including ‘Labuan’ was considered as ’not harmful’ by the Organization for Economic Co-operation and Development (OECD) Forum on Harmful Tax Practices in January 2019. Malaysia is on the same level with world-known IFCs in terms of compliance with international standards.