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:-
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.