LABUAN FOUNDATION
A Labuan Foundation is a corporate body formed under the Labuan Foundations Act 2010. It is a legal entity that holds assets for the benefit of identified beneficiaries or to achieve specific purposes.
Unlike a trust, it operates as a separate legal entity and is often used for wealth management, estate planning, asset protection, and charitable purposes. Foundations are particularly useful in civil law jurisdictions where the trust concept is not widely recognized.