The increase in the demand for offshore banking services has increased at an alarming rate. Therefore, you need to explore on the banks available and offer great services. A recommendable offshore bank to manage your finances is the Labuan bank. Opening an account with this service provider is pretty simple and more advantageous than opening an onshore account. Here are some tips on the benefits of a Labuan bank account.
Compared to other banking institutions, Labuan offers a great tax offer. The bank offers a fair tax rule and does not include withholding tax on profits.
This advantage is most suitable for foreign clients. For foreign clients who decide to set up a Labuan, their account is guaranteed to full foreign ownership.
Not only is setting up the account fast but offers a fair amount of money when setting up the account compared to other offshore banks.
Opening an offshore account is more advantageous than setting up an onshore account to prevent the account from being frozen.