Incorporation and Registration Procedures - Labuan Companies

Labuan Companies

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Overview

The general process of incorporating a Labuan company involves the following:

The applicant must be aware of the legislative framework of Labuan IBFC, and the powers and duties of a Labuan company and its members under the Labuan Companies Act 1990 (LCA).

The applicant must appoint a licensed Labuan trust company, which should conduct its own due diligence on the prospective client.

Reservation of a company name is subject to the following:

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 with an accurate and certified rendition of the name in the English language provided;
Application fee for reservation of name is USD30; and
Approval by the Registrar is within 24 hours, and the name will be reserved for a period of three months.

The application for incorporation of a company must be accompanied by the following documents and payments:

Memorandum and Articles of Association of the proposed company;
Statutory declaration of compliance by the trust company;
Consent to act as a director(s);
Individual forms filled up by each director; and
Relevant fees.

For activities that require licensing, prior approval to conduct such business must be obtained before incorporation.

Type of Fees

Fees (USD)

Form

General Fees

Application for the reservation of company name

USD 30

Incorporation Fees

Statutory declaration of compliance

Nil

Consent to act as director

Nil

Memorandum and Articles of Association (Labuan company)

Nil

Paid-up Share Capital

RM50,000 and below

USD 300

Nil

Exceeds RM50,000 but less than RM1 million

USD 600

Nil

RM1 million and above

USD 1,500

Nil

Registration Fees

Statutory declaration by a Labuan trust company as an agent of a foreign Labuan company

Nil

Return on particulars and changes of directors and secretaries

Nil

Memorandum and Articles of Association (foreign Labuan company)

Nil

Registration of a foreign Labuan company

USD 2,500

Nil

Annual Fees

Labuan company

USD 1,000

Nil

Foreign Labuan company

USD 2,500

Nil

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.