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 Licenses» Labuan

Labuan

Financial services activity needs special licenses. Specialists who work in the Forex industry or in the field of binary options are able to obtain a financial license by registering offshore company in Labuan. The availability of such license confirms the high international level of the service provider and increases the trust of customers.

Labuan

The financial services industry has its origins in 1990 when it was created the International Offshore Financial Center Labuan, simultaneously with the adoption of offshore legal framework and creation of Labuan Offshore Financial Services Authority (LOFSA)..

The growth of international clients in Labuan was due to the adoption of laws allowing to create funds, limited liability partnerships, insurance and mutual funds, shipping companies, special trusts and successfully plan the financial activities.

In addition, it was adopted the Law on Taxation of Offshore Business Activities, which is now known as the Law on Taxation of Business Activities in Labuan and complies with the standards of Organisation for Economic Co-operation and Development (ОECD) in accordance with agreements for the avoidance of double taxation.

IT OFFSHORE company provides services regarding investment or brokerage company registration, opening a bank account, and also renders assistance in obtaining a license in compliance with all the VFSC requirements.

Our service package includes the following:
- Payment of government fee for company registration in Labuan;
- Registered address in Labuan;
- Government licensing fee;
- Registered agent services;
- Delivery of documents to the requested address.

Stages of obtaining a license:
Company Registration (minimum one director of any residence - individual or entity) is required, there are no requirements for a secretary or local registered office.
Completing the forms and applying to the Financial Services Commission of Labuan with a request for obtaining Forex License.
Payment of government fees (VFSC) for filing a license application and licensing fee.
In the event of registration approval one can successfully obtain a license.

Cost:
1. Company registering in Labuan and first year of service, including:
- state payment
- registered agent services
- legal address
- preparation of constituent normative documents

2. License obtaining:
- state payment
- registered agent services

The sum includes:
- Expenses incurred during company registration
- Providing a registered address
- Government fee for license renewal
- Registered agent services
- Support during the entire license registration procedure from the moment of documents submission to the Commission up to obtaining a license.
- Setting up a package of documents for obtaining a license
- Delivery of documents to the requested address

Timeframes for obtaining a license:
The timeframe of company registration with Forex license is 3-4 months.
Personnel requirements:
Minimum of one director (individual or entity) with no residency requirements
Secretary not required
In order to register a company with the right to obtain a Forex License, the director must have duly documented experience in the financial sector, a high level of educational and good professional reputation.

Office Requirements:
Locally registered office is required for company establishment in Labuan.

Registered Capital Requirements
To register a company with a brokerage license in Labuan the minimum amount of registered capital is $ 70 000.