A leading one-stop business service and coworking space solution provider.

support

SOCOWO, a managed office or business centre dedicated to international business connections, is located at Financial Park Labuan, Malaysia. We strive to become a one-stop office space service solution provider that offers a complete range of business services for the entire life cycle of an enterprise.

Backed by an experienced and passionate team, we work relentlessly to provide ideal coworking spaces and exceptional business services for businesses to develop and establish international connections and expand networks with a unique entrepreneurial spirit.

SOCOWO—more than just a coworking space or serviced office.

ABOUT THE AREA

SOCOWO is strategically located in Labuan Financial Park Complex where it is the largest integrated commercial landmark in the Federal Territory of Labuan, consisting of a mixture of shop lots, retail outlets, shopping mall, corporate office towers and serviced apartments. The corporate office towers of Financial Park Complex are mainly occupied by government administrative offices and offices of local and international financial institutions like banks, insurance, trust companies and fund management companies.

Government Departments

  • Labuan Financial Service Authority (LFSA)
  • Immigration Office
  • Inland Revenue Board
  • Employees Provident Fund

Banks

  • Maybank
  • CIMB Bank
  • More than 20 international banks

Hotels

  • Oriental Grand Dorsett (100m from FPL)
  • Hotel Labuan Point (1km from FPL)

How to get to Labuan Financial Park from Airport

  • 8 minutes (3km) from the Labuan International Airport by Taxi or Grab.
 

What is business substance?

Business substance describes the operational reality of a corporate structure (office, personnel, bank account, decision making of top management, and sales proceeds) which reflects and further proofing a business’s legitimacy. These measures relate in one way or another to the level of genuine economic activity of a corporate structure. Business substance is essentially about having the personnel and infrastructure in the right place, at the right time, doing the right things.

What is the risk of not having business substance?

The increasing importance of business substance is a consequence of the implementation of Automatic Exchange of Information (AEOI) by the Organisation for Economic Co-operation and Development and, constant monitoring and enforcement by the local tax authority, such as Malaysia’s Inland Revenue Board (IRB) to tackle on the tax evasion matter. The absence/incomplete of business substance could set your business up for legal ramification.

The Right Level of Business Substance and How We Can Help

Personnel

Under the employment of Labuan entity and not merely on secondment basis.

  • Professional receptionist services
  • Administrative support
  • Mails and parcels handling
  • Onsite community team

Office

Maintain own office space and mere registered office is insufficient

  • Office equipment
  • Communication tools Key card access
  • Cleaning service
  • High speed WIFI
  • Fully furnished office
  • Prestigious business address
  • 24 hours security

Bank Account

Must maintain its own bank account

  • Guaranteed success in opening account

Decision making

Key decisions and conclusion of purchase/ sale contract carried out in Labuan

  • Meeting rooms
  • Tele-conference service

Sale proceed

All trading activities received in Labuan through its bank account.

  • Manage basic administrative documents (letters, invoices and payment