Documents for Incorporation of Labuan Company
Before you start your registration of a Labuan company, we like to highlight to your our care and concern prior to your incorporation.
At Tricor TrustCo, we take our clients seriously. We seek ways to minimise time, cost and inconveniences to every registrant of a Labuan company. Over the years, we had encountered many Labuan business owners who ran into difficulties almost immediately after they had registered their Labuan companies. Let’s us understand their troubles in the examples below:
- Business Entity is not suitable for the business objectives.
- Business Activities are not permissible under the Labuan laws, rules and regulations. This problem results in the company failing to obtain the right business licence to operate the business model.
- Not fully understood the various tax options and hence, paying excessive tax.
Most business owners who rans into these troubles tended to have their Labuan company registration done by overseas online registrar or Labuan trust companies who are inexperience in business advisory. These trust companies just seek to earn the registration and documents submission fees. They are not sure if the business structure is suitable to achieve the business objectives of the owners.
Before Tricor TrustCo accepts any new registration, we advise our clients on the right entity that can meet their business objective. We find out about the intended business of the client. We analyse the business from various angles including the sources of revenue, business model, and target markets and etc. We will then recommend the right entity structure to the business owner.
Next, we will help to ensure that their business nature is permissible under the rules and regulations of the Labuan FSA. At this stage, we will advise on the licensing requirements for the business, if any. We are experienced in helping Labuan business owners to get licences in many industries and business models. Be it a crypto exchange, fund management, private mutual fund, public fund, money broker, and investment and banking licenses, we have experienced in them. We offer guiding steps to business owners to get these licences as well.
Most trust companies offers incorporation service only, while Tricor TrustCo, is a full serviced trust company that offers services ranging from Incorporation, Accounting, Tax, Trust, Legal, HR, Payroll and full office space. This is the full range of services, in one platform, that fulfil all the needs of a Labuan company.
Finally, we also advise our clients on the various tax options available to them. The right tax option should consider many factors. Some of the factors are the revenue source, dealing with Malaysian Residents, as well as banking transaction flows within the structure. Many Labuan companies failed to benefits from the more than 70 DTAs that Malaysia signed internationally, because they have not been advised to chose the right tax option to take advantage of the DTAs.
Preliminary Checks Helps Clients to Avoid Rejection from Authority
Our complete advisory service also includes preliminary background checks besides recommending the right entity and structure. This is to ensure they are able to register their company with the Labuan relevant authorities, to avoid wastage of time and cost, if the application is rejected.
Tricor TrustCo is mindful of the laws and regulations of Labuan Financial Services Authority (Labuan FSA) and all other relevant bodies on the prevention of international money laundering, drug trafficking, and terrorism. Hence, we have implemented a strict risk control procedures and thorough due diligence process for all clients. Through these processes, our clients will have good assurances that their businesses can get the approvals of the Labuan FSA and the bankers as well. No company can operate without a bank account. We have a proven process that helps our clients to register their Labuan company and successful opening of banking account.
Documents Required for Incorporation in 2 Steps
Step 1: Two (2) basic documents to send to us initially :
1. Business objectives/nature of business- please give a short description of your business nature, industry, target country, your target markets and intended paid-up capital.
2. The proposed Director/Shareholder’s identity for a background check- we need a copy of the passport (info page only). For Malaysians, we need an identity card (ID) as well.
When we receive the above documents from you, we will do our preparation and ground works for incorporation. Once your business objectives and the background is cleared and good to start. The registration of Labuan Company only takes 5 to 7 days to complete!
Step 2: Preparation of Documents
There are only 3 documents required for Labuan Company registration, after the applicant is cleared and good to start.
A. Proof of Identity
1. 1 set current valid full passport (every page). The passport info page is to be certified.
2. 1 set current valid national ID card – for Malaysian only
*Both documents must be certified by Notary Public or Embassy/Consulate of Malaysia in your country.
B. Proof of Fit and Proper Person
Please provide two (2) character reference letters from qualified professional such as a lawyer, doctor, auditor, accountant, judges, magistrate, etc, with descriptive reference to your personality and conduct.
In accordance with governing legislation a person is considered to be fit and proper if the person essentially is of good character, competent, honest, financially sound, reputable, reliable and discharges his/her responsibilities fairly. For Malaysians. we would require a CTOS report on top of the reference letters.
Letter of Good Conduct from the Police and all other relevant Governmental Bodies from your home country, can be accepted and aiding to fulfil the Fit and Proper criteria.
C. Proof of Residential Address
To validate the home address, please provide ONE of the following, dated within the last three months:
a. Original utility bill (a telephone bill, electricity, water, utilities, etc)
b. Original bank or credit card statement
c. Original bank reference, confirming the home address
D. Additional Documents
We will request additional documents from you if your background checks have queries. The documents required may vary from person to person.
Whilst we respect the confidentiality of our clients, we are obliged by law to obtain relevant information relating to all beneficial owners, directors, and shareholders.
High Risk Jurisdiction Countries
If your nationality falls under the High Risk Jurisdictions, we would require to perform enhanced due diligence (EDD) check on top of the normal due diligence process. Additional documents will be required, and they may differs from case to case. In some cases, the Authority may request for an interview with you. We will review your profile and communicate with you on how to present the right profiling and be ready for the interview by the Labuan Authority. We help you to make arrangement for the interview. We will keep you informed of the proposed date and time. More on information on high-risk jurisdictions and nationalities for registration of a Labuan Company, please click here!
Delivery, Communication and Translation of Documents
For the purpose of processing and review, you can send the above documents to us via email. The original copies must be sent to us by courier. As per the requirement by the Labuan authority, we cannot kick-start the company registration process until the originals have been received.
All documents must be in English. Translation of any foreign languages to English can be done by an independent and accredited translator. The original copies should be attached together with the translation copy for submission.
TRICOR’s One Labuan Platform easy to elevate your Labuan operation efficiently! Contact us at +603-2783 9191 (Labuan Division) for an appointment or feel free to drop us an email at Tricor.email@example.com today for a simplified process, please fill in the following form to send us:
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