Labuan IBFC offers Global Incentives for Trading (GIFT) programme which provides a set of incentives for traders of specified commodities to use Labuan as their international trading base. Such traders are licensed as Labuan International Commodity Trading Companies (LITCs) which deal with eligible commodities which include petroleum and petroleum related products including liquefied natural gas; as well as trading of other physical products such as minerals, agriculture products, refined raw materials, chemicals, base materials and coal. The LITCs are required to establish operational office, which can be in any part of Malaysia.
An applicant should meet minimum eligibility criteria to apply for a licence.
Annual fee needs to be paid upon the grant of licence. The subsequent payment of annual fee is payable not later than 15 January of each year.
Business activities conducted in, from or through Labuan IBFC are governed under the relevant laws, regulations and guidelines.
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