Malaysia’s Labuan Companies Act 1990 amended to strengthen regulatory framework

29 September 2022

Malaysia’s Labuan Companies (Amendment) Act 2022 (“Amendment Act”) which came into force on 10 June 2022, bringing significant changes to the Labuan Companies Act 1990 (“1990 Act”). The 1990 Act applies to both Labuan companies and foreign Labuan companies. A Labuan company refers to a company incorporated under the 1990 Act, whereas a foreign Labuan company means a foreign company registered under Part VIII of the 1990 Act, that has a place of business or is carrying on business in Labuan and is not registered under the Companies Act 2016.

This article by our associate firm in Malaysia, Rahmat Lim & Partners, summarises key amendments introduced by the Amendment Act. To read the full article from the Rahmat Lim & Partners website www.rahmatlim.com, please click here.