What is a Labuan Foundation?
A Labuan Foundation is a hybrid structured body that comprises both a company and a trust to be run for the protection of the assets.
Objectives and Goals of a Foundation?
The Labuan Foundation is established mainly to manage and protect its own property and assets either for charitable purposes or for any other non-charitable purposes such as wealth management, for the poverty purposes, enhancement of education, relief from sickness and enhancement of culture etc.
What are the Types of Labuan Foundation?
The legislation of the Labuan jurisdiction gives you liberty to open a foundation in several categories like you can go either for charitable or private or corporate foundation. But you are still free to use it for assets and wealth management purposes.
Description of a Charitable Foundation?
If you are inclined to give a helping hand to the needy and poor and want to offer some kind of financial support to them then going for a charitable foundation is the best way to accomplish this for a non-profit cause.
Take a Look at Private Foundation?
These foundations are commonly used for protection of the property mainly for the benefit of the family members and doesn't take any kind of funds from the public and not run for the charitable causes.
Now Learn about Corporate Foundation?
A corporate foundation is mainly run or sponsored by a company that is a profitable venture. With the establishment of a corporate foundation, the companies can do their social corporate responsibility.
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