Labuan Foundation is similar to a company. It is a corporate body with a separate legal entity, established to hold assets in its own name to manage the assets for the benefit of its beneficiaries, particular purposes, or both. It is typically used for private wealth management and charitable purposes.
The Labuan Foundation does not have shareholders and it is considered an orphan structure. They are managed by one or more officers and operate following their constituent documents consisting of charters and articles.
For an Islamic foundation, the aims and operations must comply with Shariah principles.
A Labuan foundation must be registered either for charitable or non-charitable purposes. However, a Labuan non-charitable foundation may be allowed to undertake charitable activities provided these are incidental to their philanthropic purpose i.e. not the primary activities of the non-charitable foundation. This must be clearly indicated in the charter, and the foundation is not allowed to solicit public donations.
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C4-3-6 to 13 A, Block C4, Level U3, Solaris Dutamas, No 1, Jalan Dutamas 1, 50480 Kuala Lumpur.
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C4-3-6 to 13 A, Block C4, Level U3, Solaris Dutamas, No 1, Jalan Dutamas 1, 50480 Kuala Lumpur.
© 2022 MY PR PROGRAM SDN BHD (1477993-T).
All Rights Reserved.
C4-3-6 to 13 A, Block C4, Level U3,
Solaris Dutamas, No 1, Jalan Dutamas 1,
50480 Kuala Lumpur.
