The benefits of conducting or doing business from Labuan IBFC are numerous. The prime of which is the fact that in Labuan IBFC no or minimum tax is levied on profit derived from offshore business. Nevertheless it should be remembered that some offshore businesses must be conducted with valid licence. We have experience in assisting our clients in applying for various licences in Labuan IBFC. Labuan IBFC is well regulated. Applicants for business licences must consider sound financial strength, solid and proven industry records, competency, fit & proper of key persons and sound AML/CFT practice as very important criteria when applying for business licences.
Under Banking industry
- Labuan banking business.
- Labuan investment banking.
- Islamic banking business.
- Building credit business.
- Credit token business.
- Development finance business.
- Leasing business.
- Factoring business.
- Money broking.
Under Insurance industry
- Captive insurance.
- Life, general and composite insurance.
- Insurance manager.
- Underwriting manager.
- Insurance broker.
Under Securities industry
- Fund management.
- Mutual fund.
- Trustee for mutual fund.
- Administrator of mutual fund.
- Custodian of mutual fund.
Under trust industry
- Trust company.
- Managed trust company
|Type Of Company||Annual (MYR*)|
|Foreign Offshore Company||5,300|
|Offshore Factoring within Labuan||40,000|
|Offshore Factoring outside Labuan||60,000|
|Trust/Managed Trust Companies||8,000|
|Type Of Company||Annual License (MYR*)|
|Offshore/ Investment Banking||80,000|
|Offshore Leasing Business||40,000*|
|Life/ General Insurer/ Re-Insurer||50,000|
|Underwriting/ Insurance/ Broker||20,000|
|Fund Management outside Labuan||7,500|
|Fund Management within Labuan||5,000|
To check prevailing rate in US$ please click www.xe.com
Establishment of your licensed company in Labuan IBFC
This may be done prior to submitting your application. This may also be done once approval for a licence is granted, but before a licence is extracted. At this stage we will incorporate your company in accordance with the structure that you require, including drafting suitable M&A for your company. Once incorporated we will provide the following;
- Registered address.
- Licensed Company Secretary.
- All company documents and kits.
- Open bank account/s.
- Appoint auditors.
- Prepare resolutions, if required from time to time.
- Mailing, ( if required ).
- Provision of resident director ( if required ).
- Annual statutory and tax filling.
If you require an office in Labuan IBFC we could help you with:
- Recommending suitable location.
- Establishing phone, fax, internet lines.
- Establishing courier accounts.
- Applying for work permit, etc.
Please take note a licensed entity may apply for marketing office to be set up in either Kuala Lumpur or Johor Bahru and we can assist you to apply for an approval. Fee payable to Labuan FSA after approval is MYR7500.00 annually.
On consultancy basis we can undertake to review your policies and procedures, including AML/CFT policies and procedures. As most licensed companies are required to conduct internal audit, we can perform this task on consultancy basis.