Labuan leasing means the business of letting or sub-letting property on hire for the purpose of the use of such property by the hirer, regardless whether the letting is with or without an option to purchase the property.
Property includes any plant, machinery, equipment or other chattel attached or to be attached to the earth.
With the exception to the transportation of passengers or cargo by sea or the letting out on charter of ships on a voyage or time charter basis, Labuan leasing companies are allowed to carry on leasing of ships on a "bareboat" basis.
An application should meet the following minimum eligibility criteria:
A Labuan company incorporated or registered under the Labuan Companies Act 1990.
A Special Purpose Vehicle (SPV) set up to facilitate leasing transactions, including inter-company transactions.