Bangkok, 17 May 2016 – Labuan International Business and Financial Centre (Labuan IBFC), Asia Pacific’s mid-shore international business and financial centre today launched the collaboration with ZICO Law and ZICO Trust, aimed at profiling Labuan IBFC to the Indochina market.
The roadshow will consist of half day events in Thailand, Vietnam, Cambodia and Myanmar with a small group briefing in Laos. Aimed at exporting enterprises in these countries and their corporate advisors, the Masterclasses will delve into the benefits of using Labuan IBFC’s companies as their regional operational hub.
“Together with our partner Zico Law, we are organising a series of events in Indochina to share developments in Labuan IBFC and how emerging enterprises in these countries may benefit from using Labuan IBFC as an intermediating point for their export businesses,” said Danial Mah Abdullah, CEO of Labuan IBFC Inc, the marketing arm of the jurisdiction. He added that as businesses start to embrace the new normal of higher tax transparency requirements, it would be natural for them to consider establishing substance in a well-regulated jurisdiction which facilitates cross border transactions and investments.
“For more than two decades since 1990, Labuan IBFC has evolved and grown in tandem with the increase of cross border economic activities in Asia. As the level of prosperity in the region increases, we have also catered to this growing demand for wealth management solutions, for example, Labuan offers Asia’s only private client foundation as well as purpose trust,” he added.
Labuan IBFC’s position as a mid-shore international business and financial centre provides the opportunity to businesses and families in Asia to be cost efficient, whilst ensuring the need for substance is satisfied. The Masterclasses includes an introduction to Labuan IBFC’s extensive range of wealth management solutions such as private foundations, trusts and other structures like the private trust company which would appeal to families.
The events consist of presentations from ZICO Law and ZICO Trust on “Going Regional: Opportunities and Challenges for a Home Grown Company” and “What are International Business and Financial Centres: An Introduction to Labuan IBFC”.
ZICO Law is a network of leading independent local Law firms focused on the ASEAN region. With a presence in 15 cities in 8 out of 10 ASEAN countries, its 300 lawyers enable their clients to enjoy value-added legal services by leveraging on a combination of local expertise and regional insights. Led by highly experienced lawyers across ASEAN, they pull together their in-depth knowledge in the areas of banking and finance, capital markets, corporate and commercial, dispute resolution, intellectual property, projects, infrastructure and utilities, and government advisory, to cater for the increasing demand for cross-border legal advice. ZICO Law has an active presence in Cambodia, Indonesia, Laos, Thailand, Malaysia, Myanmar, Singapore and Vietnam. For more about ZICO Law, visit:
www.zicolaw.com
ZICO Trust is a leading provider of trust solutions and advisory services in ASEAN. Operating from Singapore and Labuan, its advisers cover the full spectrum of trust related services and international financial services for investors, family offices and trustees globally from initial advisory to practical solution implementation and maintenance. In Labuan, they provide services such as incorporation of Labuan entities, provision of resident secretary, nominee directors and shareholders; advisory on establishment of trusts and foundations; funds administration for wealth management; establishment of Labuan Islamic trusts and foundations; license applications and ship registration; and trust solutions and trustee services for various financial transactions.
In Singapore, they provide advisory services on the use of trusts for various purposes; establishment of various types of trusts; trustee services for asset securitization transactions; trust/family office administration services; company incorporation and administration services, nominee shareholders/directors services; and fund administration services for offshore mutual funds and local unit trusts. ZICO Trust is part of ZICO, an integrated network of multidisciplinary firms helping organizations and individuals succeed in ASEAN. More about ZICO Trust, visit:
www.zicoholdings.com
It is hoped that this roadshow will provide expanding Indochina businesses and families an opportunity to be cost efficient and connected, whilst at the same time adhering to international rules of transparency through Labuan IBFC.