Journey Labuan - International Offshore Financial Center (IOFC).

Here other information before you start your journey to Labuan. On April 16th 1984 , Labuan was declared a Federal Territory of Malaysia and in 1990 was subsequently declared an International Offshore Financial Center (IOFC).

Since it's inception as an IOFC, Labuan has achieved substantial growth and international recognition. In 1996 Labuan Offshore Financial Services Authority (LOFSA) was established and acts as a one-stop regulatory body thus allowing easy and simple business dealing with the Government. Investment Guarantee Agreements have been signed between Malaysia and more than 60 countries, providing additional protection against nationalization of investment undertaken in Labuan .

By December 31st 2003, over 4,065 offshore companies had been registered in Labuan, with 54 offshore banks including the top 30 banks in the world having offices on location. Industries such as insurance, legal and accounting have also established their offices in Labuan with the United Kingdom, France, Switzerland, the United States, Canada, Taiwan, Hong Kong and Australia commanding a presence.