Noblehouse's incorporation costs is USD2,960 equivalent in foreign currency for a Labuan Company with an issued share capital of RM50,000 or less equivalent in foreign currency.
There will be an additional USD300 payable for the registration fees of the issued capital. The total incorporation costs shall be USD3,260 equivalent in foreign currency.
The additional registration fees is USD1,200. The total incorporation costs shall be USD4,160 equivalent in foreign currency.
Minimum One - can be either be an individual or a corporate entity.
Minimum One - can be either be an individual or a corporate entity.
Yes
It is the actual person who owns the Labuan Company. It is Noblehouse's policy to obtain Know Your Customer due diligence documentation on the ultimate beneficial owner.
No, all details of the ultimate beneficial owner are strictly kept confidential by Noblehouse. The details are not open to the public.
Likewise, the details of the Labuan Company are not public records. All statutory lodgment made with the Labuan Financial Services Authority (Labuan FSA) are strictly confidential and may only be accessed upon presentation of written authorisation letter from the director, officer or shareholder of the Labuan Company.
Any person or corporate entity may be appointed as director as long as he/it is "fit and proper" and satisfy our due diligence requirement.
Basically, it means that the person or corporate entity must be sound, not been adjudicated bankrupt, have not at any time been held liable in any civil suit for any fraud or misfeasance and have not at any time been convicted of any offense by any court in relation to his work, business and employment.
No, the share capital of the Labuan Company MUST be in foreign currency.
A Labuan Company is now allowed to do business with Malaysian residents subject to notification to Labuan FSA. However unless such business activity with the Malaysian residents falls under the ambit of the Labuan Business Activity Tax Act 1990, the income may be taxable under the local tax regime which is at 25% from Year of Assessment 2009. Every Labuan Company shall not carry on business in the Malaysian currency except for defraying its administrative and statutory expenses.
Simple - just complete Noblehouse's standard application form and furnish us with Know Your Customer due diligence documents as listed in our application form. Thereafter, forward the documents together with a copy of the bank remittance advice (once payment has been made into our bank account) to us for our necessary action.
Subject to satisfactory due diligence documents provided, the Labuan Company may be incorporated within two or three working days.
No, but Noblehouse would be very pleased to meet you in person.
Definitely. Noblehouse also provides the services of bank signatories provided our terms and conditions are satisfied.
The appointment of an auditor is optional and dependent on whether the Company elects to pay tax at 3% of the net audited profit. If the Labuan Company is a licensed entity registered with Labuan FSA, then it is mandatory for the Labuan Company to have its accounts audited. A Labuan Company carrying on an offshore trading activity will need to appoint an auditor if it elects to pay 3% of the net audited profits for taxation purposes.
It is strongly recommended, as every Labuan Company is obliged to report its tax position with the Inland Revenue Board within three months from the commencement of a year of assessment. If Noblehouse is not the tax agent, you are required to furnish us details of your tax agent and copies of the filed tax document for our records.
Yes, every Labuan Company is statutorily required to produce and maintain proper accounting and other records to sufficiently explain the transaction and financial position of the Labuan Company.
It is a form which contains all the corporate details of the Labuan Company (i.e. director, shareholder, secretary, share capital, etc) which is required to be lodged with Labuan FSA within 30 days before its anniversary date of incorporation. Noblehouse requires each customer to verify and confirm the accuracy of the details prior to lodgement.
Under the present legislation, there is no requirement for a Labuan Company to appoint a Malaysian local director.
Under the present legislation, there is no requirement for a Labuan Compan to appoint a Resident Director.
