• Labuan INS International Trust Ltd (LL08668)

The Management & Administration Requirement of A Labuan Company

Every Labuan Company is required to appoint a trust company to attend to their company secretarial matters (i.e secretary) and shall at all times have a registered office in Labuan which must be the principal office of a trust company.A Labuan company may also apply to establish their operational and management and marketing office in Kuala Lumpur as specified under the Guidelines issued by Labuan FSA.

The register of directors, secretaries and members must be mantained at the registered office. The details to be recorded in the register include the full name and usual residential address of each director, secretary and member.

Except for certain licensed activities, the Labuan companies may resolve in its meeting of members not to appoint auditors. However, the Labuan Company is required by law to submit the Directors’s certificate declaring the solvency status of the Company and submit its unaudited accounts for the record to be maintained at the registered office. If the Labuan company intends to pay tax at 3% on its Labuan trading activity, audited accounts is required.

A Labuan Company is required to notify Labuan FSA of any transactions between the Labuan Company and the resident within the 10 working days of such transactions.
 

Labuan was declared as an International Offshore Financial Centre on 1 October 1990 to complement Kuala Lumpur as a regional financial centre.

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