Labuan welcomes six new captives in 2017
Labuan licensed six new captives in 2017, according to the Labuan International Business and Financial Centre (IBFC) year-end figures.
All of the new formations were pure captives.
The IBFC’s figures also revealed that two licenses were surrendered last year, meaning as of 31 December 2017 the number of active captives domiciled in the territory was 43.
Of the 43 captives, 33 were pure captives, four were protected cell captives, three were master rent-a-captives, two were subsidiary rent-a-captives and one was a rent-a-captive.
Labuan’s six new captive formations in 2017 were an increase on the year before, when there were two new captive formations in the domicile.