Most frequent questions and answers

Popular Questions

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.

General Questions
  • The minimum paid up share capital must be at least RM250,000 or its equivalent in any foreign currency.
  • A minimum salary of RM10,000 per month or its equivalents currency.
  • Position held must be on either top management, professional or technical expert.
  • Should have corresponding competencies or relevant working experience related to the position applied.
  • Required to provide operational office in Labuan or marketing office (Kuala Lumpur or Iskandar Malaysia) or co-located office.
  • Require to provide residential address in Labuan.

Yes. We can assist and facilitate the application to Labuan FSA and Immigration Labuan.

Yes allowed and the jurisdiction to confer approval is rest with the offshore banker. Labuan has more than 50 international bankers.

 

Every Labuan Company shall have at least one director and can be either an individual or corporate entity.

Minimum one – can be either an individual or a corporate entity.

All statutory lodgement made with the Labuan Financial Services Authority (Labuan FSA) are strictly confidential and may only be accessed upon presentation of written authorisation letter from the director, Authorised officer or shareholder of the Labuan Company.

The share capital of the Labuan Company must be in foreign currency.

Where a Labuan Company carries on a business with a resident, the Labuan Company shall notify the Authority of any transactions between the Labuan Company and the resident within ten working days of such transaction.

Please contact us for more information. There are documentations require to fill in.

The Labuan Company may be incorporated within 2 or 3 working days and provided all documentations are complete and in order.

Not necessary, but Bank Islam Trust Company would be very pleased to meet you in person.

Definitely. Bank Islam Trust Company also provides the services of bank signatories provided our terms and conditions are satisfied.

The appointment of an auditor is optional and depending on whether the company elects to pay tax rate at 3% of the net audited profit. A Labuan Company carrying on business trading activity is require to appoint an auditor if it elects to pay 3% of the net audited profits for taxation purposes.

Yes, every Labuan Company is statutorily required to produce and maintain proper accounting and other records to sufficiently explain the transaction and financial position of the Labuan Company.