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leasing v2

Admin Admin — 2013-04-02T03:17:00Z

Labuan Leasing

Labuan leasing means the business of letting or sub-letting property on hire for the purpose of the use of such property by the hirer, regardless whether the letting is with or without an option to purchase the property.

Property includes any plant, machinery, equipment or other chattel attached or to be attached to the earth.

With the exception to the transportation of passengers or cargo by sea or the letting out on charter of ships on a voyage or time charter basis, Labuan leasing companies are allowed to carry on leasing of ships on a "bareboat" basis.

Entry Requirements

An application should meet the following minimum eligibility criteria:

A Labuan company incorporated or registered under the Labuan Companies Act 1990.
A Special Purpose Vehicle (SPV) set up to facilitate leasing transactions, including inter-company transactions.

Application Requirement

An applicant is required to submit application of which the submission should include the following:

A business plan detailing the operations of the applicant with regard to its Labuan entity and the nature of the leasing transactions, including whether they would be conducted with residents or non-residents;
Group corporate shareholding structure;
Diagram of leasing transaction;
Composition of its Board of Directors and senior management prior written approval to Labuan FSA must be obtained for any appointment of director, person in control or Chief Executive Officer, who must be a fit and proper person; and
Any other information that may be relevant to the application.

Operational Requirement

The applicant company:

is required to ensure all transactions be done through Labuan and adequate and proper records and books of accounts be maintained in Labuan;
needs to maintain capital sufficient to support the company's operations;
can transact business only in foreign currency and not deal in Malaysian Ringgit except for the purpose of defraying administrative and statutory expenses;
must conduct its business with due diligence and sound principles and comply with the laws and regulations where it conduct its leasing business;
indicate clearly its name on its letterhead, stationery and other documents;
is to submit to Labuan FSA within three months after the close of each financial year, a copy of its audited annual balance sheet and profit and loss account;
is to provide statistics and information as may be required by Labuan FSA in relation to prudential information, general business conduct and volume and direction of business in Labuan;
must notify Labuan FSA of any change to its constituent documents, shareholdings, management or business plans; and
is required to comply with any other requirements issued by Labuan FSA from time to time.

Application Checklist and Form

Application Checklist to Carry on Labuan Leasing Business

Form LA/1 - Leasing Application Form

Form LA/2a & Form LA/2b - Information of Individual Shareholder & Director

Form LA/3 - Subsequent Leasing Application Form

Fees

All licensees are required to pay to Labuan FSA annual licence fees on or before 15 January of each year:

Type of Fees	Lease to Malaysian Resident		Lease to Non-Malaysian Resident
Type of Fees	Ringgit Malaysia	USD	Ringgit Malaysia	USD
Annual Fee	RM60,000	USD20,000	Nil	Nil
Each Subsequent Leasing Transaction	RM20,000 (One off)	USD6,000	Nil	Nil

Governing Legislation

Labuan Financial Services and Securities Act 2010
Labuan Companies Act 1990
Labuan Business Activity Tax Act 1990

For a complete list of all Labuan laws, please click here

leasing v2

Admin Admin — 2013-04-02T03:17:00Z

Labuan Leasing

Property includes any plant, machinery, equipment or other chattel attached or to be attached to the earth.

Entry Requirements

An application should meet the following minimum eligibility criteria:

A Labuan company incorporated or registered under the Labuan Companies Act 1990.
A Special Purpose Vehicle (SPV) set up to facilitate leasing transactions, including inter-company transactions.

Application Requirement

An applicant is required to submit application of which the submission should include the following:

A business plan detailing the operations of the applicant with regard to its Labuan entity and the nature of the leasing transactions, including whether they would be conducted with residents or non-residents;
Group corporate shareholding structure;
Diagram of leasing transaction;
Composition of its Board of Directors and senior management prior written approval to Labuan FSA must be obtained for any appointment of director, person in control or Chief Executive Officer, who must be a fit and proper person; and
Any other information that may be relevant to the application.

Operational Requirement

The applicant company:

is required to ensure all transactions be done through Labuan and adequate and proper records and books of accounts be maintained in Labuan;
needs to maintain capital sufficient to support the company's operations;
can transact business only in foreign currency and not deal in Malaysian Ringgit except for the purpose of defraying administrative and statutory expenses;
must conduct its business with due diligence and sound principles and comply with the laws and regulations where it conduct its leasing business;
indicate clearly its name on its letterhead, stationery and other documents;
is to submit to Labuan FSA within three months after the close of each financial year, a copy of its audited annual balance sheet and profit and loss account;
is to provide statistics and information as may be required by Labuan FSA in relation to prudential information, general business conduct and volume and direction of business in Labuan;
must notify Labuan FSA of any change to its constituent documents, shareholdings, management or business plans; and
is required to comply with any other requirements issued by Labuan FSA from time to time.

Application Checklist and Form

Application Checklist to Carry on Labuan Leasing Business

Form LA/1 - Leasing Application Form

Form LA/2a & Form LA/2b - Information of Individual Shareholder & Director

Form LA/3 - Subsequent Leasing Application Form

Fees

All licensees are required to pay to Labuan FSA annual licence fees on or before 15 January of each year:

Type of Fees	Lease to Malaysian Resident		Lease to Non-Malaysian Resident
Type of Fees	Ringgit Malaysia	USD	Ringgit Malaysia	USD
Annual Fee	RM60,000	USD20,000	Nil	Nil
Each Subsequent Leasing Transaction	RM20,000 (One off)	USD6,000	Nil	Nil

Governing Legislation

Labuan Financial Services and Securities Act 2010
Labuan Companies Act 1990
Labuan Business Activity Tax Act 1990

For a complete list of all Labuan laws, please click here

INTERNATIONAL RISK MANAGEMENT CONSULTATNS LTD

Shafrina Abdul Razak — 2013-05-13T06:02:00Z


Name	:	INTERNATIONAL RISK MANAGEMENT CONSULTANTS LTD
		*Life and General Insurance Broker*

Address	:	C/O Brighton Management Limited Brighton Place Ground Floor, Shoplot No: U0215 Jalan Bahasa P. O. Box 80431, 87014 Labuan F.T.
Tel No.	:	087-442899
Fax No.	:	087-451899
Email	:	TBA

Marketing Office Address	:	-N.A-
Tel No.	:	-N.A-
Fax No.	:	-N.A-
Contact Person	:	Mr. Hardial Singh A/L Nathar Singh (Director cum Principal Officer)

List of Credit Token Business

Shafrina Abdul Razak — 2013-04-10T03:55:00Z

List of Credit Token Business

Shafrina Abdul Razak — 2013-04-10T03:55:00Z

Credit Token Business

Shafrina Abdul Razak — 2013-04-10T03:39:00Z

Credit Token Business

Credit token business means any business where a token, being a cheque, card, voucher, stamps, booklet, coupon, form or other document or thing is given or issued to a person, referred to as "customer", by the person carrying on the business, referred to as "issuer", whereby such issuer undertakes:

a) That on the production of the token, whether or not some other action is also required, the issuer will supply cash, goods or services on credit; or

b) That where, on the production of the token to a third party, whether or not any other action is also required, the third party supplies cash, goods or services, the issuer will pay the third party for them, whether or not deducting any discount or commission, in return for payment to be made thereafter to the issuer by the customer.

And for the purposes of this definition, the use of a token to operate a machine provided by the issuer or by a third party shall be regarded as the production of the token to the person providing the machine.

Fees

Type of Fees	Amount
Annual Fee	RM40,000	USD13,000

Trust Formation v2

Admin Admin — 2013-04-02T04:26:00Z

Labuan Trust

There are various types of trusts to be established vie, purpose trusts, charitable trusts which includes the unique 'advancement of human rights and fundamental freedom; spendthrift or protective trusts and the Labuan Special Trust. The Trust may be registered with Labuan FSA.

Entry Requirement

A settlor of a Labuan trust must be a qualified person or a resident who can retain certain wide powers including revoking, amending or varying the terms of the trust.
The beneficiaries of a Labuan trust must also be a qualified person or a resident. One of the trustees of a Labuan trust must be a Labuan Trust company but a trustee cannot also be an Enforcer, although a settlor or his representative can be an Enforcer too.
Where a trust property includes Malaysian property, prior approval must be obtained from the Authority and any income derived from the property is subject to Malaysia Income Tax Act 1967. Non-Malaysian property income shall be subject to Labuan Business Activity Tax Act 1990 (LBATA).
Duration of a trust - The terms of a Labuan trust may state its existence for a fixed duration or if not stated, it can be for perpetuity. There is also provision under the law for the conversion of a Labuan trusts from a fixed duration to an unlimited period or alter it by limiting or extending the duration.
Under the Labuan Special Trust, a trust of company shares can be established under which the shares can be retained indefinitely and the management of the company may be carried out by its directors without any powers of intervention by the trustee. This form of trust is ideal for succession or dynastic planning as well as for matrimonial settlements.
A letter of wishes which the settlor may provide in addition to the Trust Deed is provided for under the Act.

Fees

Type of Fees	Amount
Registration fee	RM750	USD200
Renewal of certificate of Registration	RM 50	USD15

Governing Legislation

The Labuan trusts are governed by the following Labuan laws:

Labuan Trusts Act 1996
Labuan Financial Services and Securities Act 2010
Labuan Companies Act 1990
Labuan Business Activity Tax Act 1990

For a complete list of all Labuan laws, please click here

Labuan International Trading Commodity v2

Admin Admin — 2013-04-02T06:26:00Z


Labuan International Trading Commodity The Global Incentives for Trading (GIFT) programme was launched in collaboration with the Malaysia Petroleum Resources Corporation, aims at positioning Malaysia as a regional trading and storage hub for oil and gas. Under the programme, a set of incentives were offered through the establishment of the Labuan International Trading Commodity Company (LITC) including incentives for traders and trading houses to use Malaysia as their international trading base. The LITC was structured by taking cognizance from the views and demands of the market. The Labuan international commodity trading business is the trading of Petroleum and petroleum-related products, Minerals, Carbon credits and any other commodities as may be approved by Labuan FSA in any currency other than Ringgit under the GIFT programme. Trading under the GIFT programme is defined as the buying, selling and/or brokering of the specified commodities. Entry Requirements Any qualified person intending to undertake Labuan international commodity trading business under the GIFT programme may apply to Labuan FSA for a licence to carry out such business activities under the GIFT. The qualifying criteria are: Generate a minimum annual total revenue of USD100 million; Spent minimum of RM3 million in annual local expenditure billed to Malaysia entity; and Employ a minimum of three professional traders.
Application Requirements The applicant must: Establish a Labuan company incorporated and registered under Labuan Companies Act 1990. Operational Requirements The applicant: Must have sufficient capital / working funds to commensurate or in accordance with its operations and activities; Must clearly indicate on its letterhead, stationery and other documents including signage containing its name that it is licensed as a "Labuan International Commodity Trading Company" under Labuan Financial Services and Securities Act 2010, together with its licence number; Must maintain its registered office in Labuan, which is the office of the Labuan trust company but is allowed to establish its operational office(s) and operate anywhere in Malaysia; Must ensure that the business is conducted with proper corporate governance and risk management framework is in place; and Comply with other requirements of the Labuan laws and regulation.
Application Checklist and Form Form LITC/1 - Application to Carry On Labuan International Commodity Trading Business Form LITC/2 - Information of Director(s) / Proposed Director(s) Governing Legislation Labuan Companies Act 1990 Labuan Financial Services and Securities Act 2010 Related Guidelines / Circulars Guidelines on the Establishment of Labuan International Commodity Trading Company under the Global Incentives for Trading Programme

Labuan International Trading Commodity v2

Admin Admin — 2013-04-02T06:26:00Z


Labuan International Trading Commodity The Global Incentives for Trading (GIFT) programme was launched in collaboration with the Malaysia Petroleum Resources Corporation, aims at positioning Malaysia as a regional trading and storage hub for oil and gas. Under the programme, a set of incentives were offered through the establishment of the Labuan International Trading Commodity Company (LITC) including incentives for traders and trading houses to use Malaysia as their international trading base. The LITC was structured by taking cognizance from the views and demands of the market. The Labuan international commodity trading business is the trading of Petroleum and petroleum-related products, Minerals, Carbon credits and any other commodities as may be approved by Labuan FSA in any currency other than Ringgit under the GIFT programme. Trading under the GIFT programme is defined as the buying, selling and/or brokering of the specified commodities. Entry Requirements Any qualified person intending to undertake Labuan international commodity trading business under the GIFT programme may apply to Labuan FSA for a licence to carry out such business activities under the GIFT. The qualifying criteria are: Generate a minimum annual total revenue of USD100 million; Spent minimum of RM3 million in annual local expenditure billed to Malaysia entity; and Employ a minimum of three professional traders.
Application Requirements The applicant must: Establish a Labuan company incorporated and registered under Labuan Companies Act 1990. Operational Requirements The applicant: Must have sufficient capital / working funds to commensurate or in accordance with its operations and activities; Must clearly indicate on its letterhead, stationery and other documents including signage containing its name that it is licensed as a "Labuan International Commodity Trading Company" under Labuan Financial Services and Securities Act 2010, together with its licence number; Must maintain its registered office in Labuan, which is the office of the Labuan trust company but is allowed to establish its operational office(s) and operate anywhere in Malaysia; Must ensure that the business is conducted with proper corporate governance and risk management framework is in place; and Comply with other requirements of the Labuan laws and regulation.
Application Checklist and Form Form LITC/1 - Application to Carry On Labuan International Commodity Trading Business Form LITC/2 - Information of Director(s) / Proposed Director(s) Governing Legislation Labuan Companies Act 1990 Labuan Financial Services and Securities Act 2010 Related Guidelines / Circulars Guidelines on the Establishment of Labuan International Commodity Trading Company under the Global Incentives for Trading Programme

Event Calendar Accordian

Shafrina Abdul Razak — 2011-04-27T04:36:00Z

Event Calendar

7-9 JUNE 2013
Customer Services Day Programme 2013 by Ministry of Federal Territories and Urban Wellbeing

14 JUNE 2013
Launching of Labuan FSA Annual Report 2012

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