| |
Incorporation and Registration Procedures The general process of incorporating a Labuan company involves the following: - The applicant must be aware of the legislation of Labuan IBFC, and the powers and duties of a Labuan company and its members under the LCA;
- The applicant must appoint a licensed Labuan trust company, which should conduct its own due diligence on the prospective client.
- Reservation of company name.
(i) The client may choose any name, but Labuan FSA has the discretion to reject the name if it is undesirable or
involves a name that the Registrar is not willing to accept.
(ii) The name shall contain any word or abbreviation thereof in the national language of any country with an
accurate and certified rendition of the name in the English language provided.
(iii) Application fee for reservation of name is RM50.
(iv) Approval by the Registrar is within 24 hours, and the name will be reserved for a period of three months. |
- Incorporation of company.
The application for incorporation must be accompanied by the following documents and payments: (i) memorandum and articles of the proposed company;
(ii) statutory declaration of compliance by the trust company;
(iii) consent to act as a director(s);
(iv) each director has to fill up individual form; and
(v) relevant fees. For activities that require licensing, prior approval to conduct such business must be obtained before incorporation. |
5. Fees structure | Type of Fees | Fees | Form | | RM | USD | | General Fees | | Application for the Reservation of company name | 50 | 15 | 9 | | Incorporation Fees | | Statutory declaration of compliance | Nil | Nil | 6 | | Consent to act as director | Nil | Nil | 24 | | Memorandum & Articles of Association (Labuan Company) | Nil | Nil | Nil | | Paid-up share capital | | RM 50,000 and below | 1,000 | 300 | Nil | | Exceeds RM 50,000 but less than RM 1 million | 2,000 | 600 | Nil | | RM 1 million and above | 5,000 | 1,500 | Nil | | Registration Fees | | Statutory declaration by a Labuan trust company as an agent of a foreign company | Nil | Nil | 33 | | Return on particulars and changes of directors and secretaries | Nil | Nil | 25 | | Memorandum & Articles of Association (Foreign Labuan Company) | Nil | Nil | Nil | | Registration of foreign company | 6,000 | 2,000 | Nil | | Annual Fees | | | Labuan company | 2,600 | 800 | | Foreign Labuan company | 5,300 | 1,500 | |
| 6. Approval process
Upon lodgement of complete documentation and payment of fees as well as clearance from the due-diligence process conducted by Labuan FSA, a Labuan company can be approved for incorporation or registration within 24 hours. |
