Labuan Company Business License
Labuan companies incorporated under Labuan Company Act 2010 required some forms of a business license to be eligible to operate its business. The company, depending on the industries and business activities they want to engage in, may need other types of operating licenses. The licenses are required in order to comply with Labuan Financial Services Authority (LFSA) and other local Malaysia agencies regulators.
There are three (3) major categories of Business licenses for a Labuan Company is as follows:
- Company Licence
- Industry Licence
- Activity Licence
Company License for Labuan Company
Eight (8) basic company licenses applicable to the Labuan company are :
|Type of Company License:||Issued By:|
|Company Registration License||LFSA|
|Corporate Tax Registration||Inland Revenue Board (IRB)|
|Employer Income Tax Registration||Inland Revenue Board (IRB)|
|Employees Provident Fund (for local employees)||Employee Provident Fund|
|Social Security Organisation (for local employees)||Perkeso (Socso)|
|Business Premise License (for own rented office)||Local Town Council|
|Signboard License (for own rented office)||Local Town Council|
|Human Resources Development (for more than 10 local employees)||Human Resources Board|
Some of the above business licenses also apply to other Labuan entities such as Labuan Limited Liability Partnership (LLP), Labuan Partnership (LP).
Industry Licence for Labuan Company
Industry licenses are licenses unique to a particular industry or sector which Labuan Company operates in as the main business nature. Labuan company can be 100% foreign-owned eligible to apply for all types of industry licenses issued by Labuan Financial Services Authority (LFSA) as long as the candidates are eligible and able to fulfill the application requirements.
Examples of Labuan Industry licenses are:
|Industry Category:||License Issued by LFSA:|
|Labuan Banking||Commercial Bank License; Investment Banking License|
|Labuan Insurance||Re-insurance, general insurance, insurance manager, underwriter, and broker license|
|Labuan Money Broker||Forex License|
|Labuan Commodity Trading||GIFT License|
|Labuan Securities||Securities License|
|Labuan Fund Management||Fund Management License|
|Labuan Factoring||Factoring License|
|Labuan Shipping||Shipping License|
|Labuan Leasing||Leasing License|
|Labuan Credit Token||Credit Token License|
|Labuan Company Management||Company Management License|
Activity Licence for Labuan Company
Activity licenses are licenses that regulate activities of the Labuan Company that may hit a certain threshold, additional requirements to your Industry License or Business License to comply. The type of activity license issued to the company by various authorities in Malaysia depends on the activities relate to.
Examples of Labuan Activity Licences are:
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