set up company in labuan incorporation

Incorporate in Labuan (Malaysia)

$4,300.00

Set up a Labuan Company

The Labuan International Business and Financial Centre is a reputable free trade area located in the Federal Territory of Labuan, an island off the coast of the state of Sabah in East Malaysia.

Labuan is becoming one of the major financial hubs of Asia due to its pro-business regulation, low taxes and compliance with international standards on due diligence and transparency.

Companies incorporated in Labuan carrying on certain business activities and having economic substance in Labuan benefit from an attractive tax regime. Labuan business activities (as defined by law) qualify for a 3% concessionary tax rate (as opposed to the Malaysian 24% standard tax rate). Any business done with Malaysian residents may be subject to 24% tax (and limited deductibility of expenses). The qualifying activities for the 3% tax rate include:

  • Labuan insurer, Labuan reinsurer, Labuan takaful operator, Labuan retakaful operator
  • Labuan underwriting manager or Labuan underwriting takaful manager
  • Labuan insurance manager or Labuan takaful manager
  • Labuan insurance broker or Labuan takaful broker
  • Labuan captive insurer or Labuan captive takaful
  • Labuan International Commodity Trading Company
  • Labuan bank, Labuan investment bank, Labuan Islamic bank or Labuan Islamic investment bank
  • Labuan trust company
  • Labuan leasing company of Labuan Islamic leasing company
  • Labuan development finance company or Labuan Islamic development finance company
  • Labuan building credit company or Labuan Islamic building credit company
  • Labuan factoring company or Labuan Islamic factoring company
  • Labuan money broker or Labuan Islamic money broker
  • Labuan fund manager
  • Labuan securities licensee or Labuan Islamic securities licensee
  • Labuan fund administrator
  • Labuan company management
  • Labuan International Financial Exchange
  • Self-regulatory organisation or Islamic self-regulatory organisation
  • Holding Company
  • Administrative, Accounting and Legal Services

Labuan Limited Company Formation and First-Year Fees- USD 4,300.00 (All Included)

Note that our incorporation and annual fees are all “all-included fees”, and cover all the required services, duties, disbursements, and procedures to incorporate a Labuan company, and keep it in good standing (excluding annual audited accounts, if required)

  • All Applicable Government and Registration Fees (Labuan Financial Services Authority)
  • Preparing and filing the Memorandum and Articles of Association with the LFSA
  • Providing the Certificate of Incorporation and LFSA-filed M&AA
  • Preparing the Directors’ Declaration and Consent Letters
  • Preparing the Shareholders’ Declaration Letters
  • preparing the share certificate(s)
  • Preparing and executing the Subscriber Declaration of allotted share capital
  • Preparing the First Board Resolution resolving the Appointment of Directors, Registered Office, and other corporate matters
  • Preparing and executing a Certificate of Incumbency for bank account opening
  • Providing Resident Corporate Secretary Services for one year
  • Providing Registered Office Address for one year
  • Preparing and filing the Annual Return of the Company
  • Updating and lodging all directors and shareholders to the LFSA
  • Forwarding via email correspondence received from LFSA, Inland Revenue, and other related government bodies.
  • Preparing and Delivering Certified Copies of the Corporate Documents via Courier, inclusive of Courier fees

Time to form the company

Generally, it takes us 2 to 3 days to prepare all the pre-incorporation documents which need to be printed and signed by the proposed Shareholders and Directors of the proposed company. Once we receive the original signed pre-incorporation documents, we will file the company with the LFSA. At that point, it will take 3 to 5 business days for the LFSA to issue the Certificate of Incorporation and release the stamped M&AA.

Malaysia / Labuan Bank Account Opening Services – USD 500.00

Assistance in opening a bank account for the Company in either the Kuala Lumpur or the Labuan Branch of a Malaysian bank (Standard Chartered, OCBC Malaysia, Maybank, UOB Bank, Kuwait Finance House, AMBank, CIMB Bank),

  • advising on and assisting in the completion of the Bank’s KYC and questionnaires, bank account application forms, and related documentation, as required
  • managing the bank account opening procedure
  • advising on the meeting with the Bank’s relationship manager
  • arranging a meeting with the Bank’s relationship manager for bank account opening (video-conference)
  • introducing the Client to the Bank’s relationship manager

Note that a personal visit to the bank has been traditionally required for account opening purposes. However, due to the current COVID-19 situation and related travel restrictions, accounts can be opened remotely via videoconference. Therefore, directors and beneficial owners of Labuan companies do not need to travel to Kuala Lumpur or Labuan to open the bank account.

Note that we can also open overseas bank accounts for Labuan companies in the following jurisdictions:

  • Singapore Bank Account (5 Banks, Remotely) – USD 900.00 – Debit/Credit Cards Available – Remote Account Opening Available due to COVID-19 and related travel restrictions
  • Mauritius Bank Account (3 Banks, Remotely) – USD 600.00 – Debit/Credit Cards Available
  • Hong Kong Bank Account (3 Banks, In-person) – USD 2,000.00 – Debit/Credit Cards Available
  • Switzerland Bank Account (1 Bank Remotely, 3 Banks In-person) – USD 1,200.00 – Debit/Credit Cards and Brokerage Accounts Available
  • New York (US) Bank Account (2 Banks, Remotely) – USD 2,000.00 – Debit/Credit Cards and Brokerage Accounts Available
  • Armenia Bank Account (1 Bank, Remotely) – USD 1,200.00 – Debit/Credit Cards and Brokerage Accounts Available
  • Turkey Bank Account (1 Bank, Remotely) – USD 1,200.00 – Debit/Credit Cards and Brokerage Accounts Available
  • Cayman Islands Bank Account (5 Banks, Remotely) – USD 900.00 – Brokerage Accounts and Debit/Credit Cards Available
  • Bahamas Bank Account (2 Banks, Remotely) – USD 500.00 – Brokerage Accounts Available
  • Curaçao Bank Account (2 Banks, Remotely) – USD 500.00 – Debit/Credit Cards Available
  • Cook Islands Bank Account (1 Bank, Remotely) – USD 600.00 – Brokerage Accounts available
  • Belize Bank Account (1 Bank, Remotely) – USD 300.00 – Prepaid Cards Available
  • Puerto Rico Bank Account (2 Banks, Remotely) – USD 300.00 – Debit/Credit Cards Available and Brokerage Accounts available
  • Antigua Bank Account (2 Banks, Remotely) – USD 300.00 – Debit/Credit Cards Available
  • Nevis Bank Account (1 Bank, Remotely) – USD 300.00 – Debit/Credit Cards Available
  • Saint Lucia Bank Account (1 Bank, Remotely) – USD 300.00
  • Dominica Bank Account (2 Banks, Remotely) – USD 300.00 – Debit/Credit Cards Available
  • UK/Latvia/Lithuania Electronic Money Institution Account (8 EMI’s, Remotely) – USD 300.00 – Debit/Credit Cards Available

Labuan Company Annual Fees – USD 3,200.00 (payable one year after incorporation, and annually thereafter)

  • Preparing and filing Corporate Tax Return
  • All applicable LFSA annual fees per company
  • Providing Resident Corporate Secretary Services for one year
  • Providing Registered Office Address for one year
  • Maintenance of Minute Book and Statutory Records
  • Preparing and filing the Annual Return of the Company
  • Updating and lodging all directors and shareholders to the LFSA
  • Forwarding via email correspondence received from LFSA, Inland Revenue, and other related government bodies.

Other Services (Optional)

  • Formation and Establishment of Private Foundations
  • LFSA-licensing of Money Brokers, Fund Management Companies, Securities Dealers, and Private Funds
  • Economic Substance Services (Local Directorship, Physical Office, Labuan Labour, Outsourcing of CIGA, etc)
  • Audit Services
  • Accounting Services

Bank Accounts

SKU: INC-KN-001-3 Category:
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