Labuan Company – Breakdown of Services

A. LABUAN COMPANY INCORPORATION (Paid-up capital does not exceed MYR50,000.00 equivalent)


Professional Fees


1. Advisory and consultancy related to incorporation

2. Legal fee for incorporation including:-

(a) Advisory and consultancy related to incorporation

(b) Reservation of Name

(c) Preparation of Form 6, Form 24, and Memorandum and Articles of Association (“M&A”)

(d) Conduct of due diligence on all Connected Person(s)

(e) Lodgement of incorporation documents with Labuan Financial Services Authority (“Labuan FSA”)

(f) Lodgement of statutory documents after incorporation, i.e., Form 13, 23 and 25

(g) Preparation of the Registers, Share Certificate, and minutes of First Board of Directors’ Meeting

3. First Year Resident Secretary and Registered Address fees including the following tasks:-

(a) Preparation and filing of relevant forms and documents in relation to the Labuan Company’s first year Annual General Meeting and Annual Return

(b) Lodgement of Annual Fee with Labuan FSA

(c) Conduct of on-going due diligence for all Connected Person(s) of the Company

(d) Advice on the Annual Statutory Compliance of the Company

4. Registration of tax number with Malaysia Inland Revenue Board (“IRB”)

5. Submission of first year Tax Return to IRB

6. Assistance and preparation of the relevant forms for the opening of corporate bank account with one (1) esteemed bank (one (1) MYR currency and up to two (2) Foreign Currency Accounts).


**Additional corporate bank account / foreign currency accounts will be subjected to additional charges


Disbursements


1. In relation to No. A2

(a) Statutory fees payable to Labuan FSA for reservation of name and incorporation fee for the paid up capital not exceeding MYR50,000.00 equivalent

(b) Minutes book, common seal, rubber stamp, signage of the Company, virtual office fee for one (1) year

2. In relation to No. A6

(a) Processing fee payable to Labuan FSA for issuance of Letter of Information addressed to the esteemed bank

3. Out of pocket expenses – photocopying, facsimile, telephone, domestic courier, and other incidental charges


B. ANNUAL MAINTENANCE


Professional Fees


1. One (1) year resident secretary and registered address fees including the following tasks:-

(a) Lodgement of annualfFee with Labuan FSA

(b) Conduct of on-going due diligence on all Connected Person(s) of the Company

(c) Advice on the annual statutory compliance of the Company

2. Submission of tax return to IRB

3. Preparation and filing of relevant forms and documents in relation to annual general meeting, and annual return


Disbursements


1. Annual fees payable to Labuan FSA

2. Virtual office fee for one (1) year

3. Out of pocket expenses – photocopying, facsimile, telephone, and other incidental charges (minimum)


OPTIONAL


C. OTHER SERVICES


1. Application for opening of corporate bank account with esteemed bank for Labuan entity (per currency)

2. Application for opening of corporate bank account with esteemed bank for Labuan entity (1 MYR account and 2 foreign currency accounts)

3. Application for opening of offshore corporate bank account with esteemed offshore bank for Labuan entity (up to 2 foreign currency accounts)

4. Application for opening of corporate bank account with esteemed bank for non-Labuan entity (1 MYR account and 2 foreign currency accounts) including virtual office in Labuan, Malaysia for a period of one (1) year

5. Drafting of director / shareholder / legal agreement (per agreement)

6. Arranging of notarisation / legalisation of documents (per set)

7. Arranging of translation of the documents (per document)

8. Virtual office fee for a period of one (1) year

9. Serviced office space (furnished) for one (1) workstation for a period of one (1) year

10. Serviced office space (furnished) for two (2) workstations for a period of one (1) year

11. Serviced office space (furnished) for four (4) workstations for a period of one (1) year

12. Subscription of residential address in Labuan for a period of one (1) year (per person)

13. Dedicated phone line for one (1) year (excluding call charges)

14. Conducting Enhanced Due Diligence (“EDD”) on high-risk and other monitored jurisdictions (“HRJ”) on the Connected Person(s) (per Connected Person)


Acceptance(please email the following documents to us)

1. Fill up Sign Up Form

2. Prepare document as per Checklist for the Connected Person

3. Fill up and notarization of Information About the Connected Person Form

(a) Individual Entity and/or

(b) Corporate Entity


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