Incorporation Procedure
The general process of incorporating a Labuan company involves the following:
1. 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;
2. The applicant must appoint a trust company, which should conduct its own due diligence on the prospective client.
3. Reservation of company name.
|
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.
|
|
The name shall contain any word or abbreviation thereof in the national language of any country that connotes a company limited by shares or guarantee.
|
|
Statutory fee of RM50 (USD1.00 = RM3.80)
|
|
Approval by the Registrar is within 24 hours, and the name will be reserved for a period of three months.
|
4. Incorporation of company.
|
The application for incorporation must be accompanied by the memorandum and articles of the proposed company, statutory declaration by on officer of the company and consent in writing of the person(s) to be appointed as director(s) of the Labuan companies, together with the relevant fees.
|
|
For activities that require licensing, prior approval must be obtained to undertake the activity.
|
|
Fees for incorporation as follows:
|
i. Memorandum & Articles
|
RM100
|
|
ii. Statutory declaration
|
RM50
|
|
iii. Consent to act as director
|
RM50 per director
|
|
iv. Incorporation fee
|
Nominal Capital
|
Amount
|
|
Not exceeding RM50,000
|
RM1,000
|
|
Between RM50,000 and RM999,999
|
RM2,000
|
|
RM1 million and above
|
RM5,000
|
|
Registration of foreign company
Conversion fee – From Labuan company to Labuan Protected Cell Company
|
RM6,000
RM250
|
|
|
|
|
|
|
Approval by the Registrar is within 24 hours.
|
|
