FAQ

Most frequent questions and answers

Yes, a foreigner can become a director of Labuan Company so long the person satisfies the fit and proper person requirement.

A Labuan Company may carry on a business with a resident subject to Labuan LFSA requirement.

No Labuan Company shall not carry on business in Ringgit except:-

  • For defraying its administrative expenses and statutory expenses;
  • Unless permitted under the Labuan Financial Services And Securities Act 2010 or the Labuan Islamic Financial Services And Securities Act 2010
  • In relation to the holding of investments in a domestic company;
  • In relation to the holding of debt obligation by a Labuan Company or a foreign Labuan Company; or
  • Payment in relation to its professional contact with persons specified in paragraph (6)(c)

The minimum paid-up capital is USD1 or its equivalent to any other currency.

A foreigner can apply for work permit once he incorporated a Labuan Company.