How to apply for a foreign exchange license in Labuan, Malaysia?

Malaysia Labuan fx fx license.

Labuan Federal Territory 156 (Wilayah Persekutuan Labuan, abbreviated as Labuan) is a Federal Territory of 6991 Malaysia 3780, located in the western part of Sabah, an island located in the South China Sea, Labuan Island covers an area of about 92 square kilometers.

Labuan Financial Services Authority of Malaysia LFSA was established in 1996 as the offshore financial regulator in Malaysia. Strategically located in the heart of the Asia-Pacific region, Labuan International Business and Financial Centre offers the perfect opportunity for businesses looking to strengthen their ties with Asian economies.

The main functions of the LABUAN FSA are to license LABUAN IBFC companies, supervise licensed entities and ensure that all entities comply with internal and other jurisdictional regulations. The LABUAN FSA also formulates policies and regulations to regulate the LABUAN IBFC in an orderly manner

A Labuan offshore company is an outstanding entity for the forex business, nevertheless, in order to capture this value, such business vehicles must be properly structured. In order to carry out any forex activity, there must be:

1.Companies and offices.

2.Money License (FX License).

3.Experience in the monetary business.

4.Two directors.

5.A local office and two staff members are available to assist with the lease.

Requirements:1Experience in Forex.

2.Proven track record.

3.Commitment - The FSA submits a commitment to establish a functional money brokerage business.

Minimum paid-up capital: MYR 500,000

Bank account for 3-4 weeks.

What you need to prepare:

1.Passport copies of all directors and shareholders (2 sets).

2.Proof of address.

3.Bank reference letter.

4.Notary Public's reference letter.

5.Shareholder's bank balance is confirmed, not less than 500,000 MYR, 150,000 USD is recommended

Application Requirements:1Biographies of directors.

2.Director's Academic and Professional Certificates.

5.Passport and proof of address.

6.Bank reference letter.

7.Bank statement within 3 months (to prove that capital requirements have been met) 2 If the company is a director or shareholder, then:

1.A copy of the Certificate of Incorporation];

2.Certified copies of memorandums and clauses;

3.A certified copy of the Register of Directors.

For banks:1A notarized valid passport;

2.A copy of proof of residential address;

3.A notarized copy of a reference letter from a bank, lawyer, or accountant.

For the applicant company requirements:

1.Maintain paid-up capital of not less than RM500,000 or its equivalent in any currency (paid-up);

2.Have an office in Labuan which is for business purposes only and therefore needs to be equipped with appropriate office facilities;

3.Meet the staff members mentioned in the application requirements;

4.Labuan money broking business is designed to serve both institutional investors and high net worth individuals. In this regard, Labuan Money Brokers are expected to limit the maximum leverage for their clients' trades to 100:

1, which will translate into a minimum margin deposit of 1 to be able to open a trading position. For illustrative purposes, assuming a trading volume of $100,000, the minimum margin requirement will be equal to $1,000;

5.For Labuan money brokers who are engaged in Islamic money broking, it is mandatory to appoint a qualified person to serve as a member of their internal Shariah Advisory Committee to ensure that their management and operations are Shariah-compliant.

Malaysia License Application:

1. Application requirements for (Labuan Investment Bank Investment Banking License).

1.Documentation Requirements:

1) Call for Abuan Ivestmet Bank Investment Banking License. The applicant legal person or another person shall submit an application for licensing, in writing, to the Authority on behalf of the applicant legal person.

2) The application documents should contain the following contents:

a) Legal documents certified by the Authority FSA.

b) Series of Presentation Documents:

i) The name, address and date of establishment of the applicant legal entity;

ii) the business address and business operation of the applicant legal entity;

iii) the name and address of the management of the applicant and the participants holding more than 10% of the paid-up capital;

c) The names and addresses of all employees of the applicant legal entity who are responsible for the operation of the investment banking business. Qualifications, d) a description of the application business of the legal person certified by the FSA as an investment banking service

e) Submit copies (photocopies) of audit reports for the three financial years preceding the date of application;

f) a business plan for three financial years;

2. (Money Broker) Application Requirements.

1.Submit a complete form FB-MB and submit an audited financial statement within 6 months of the end of each fiscal year Submit data and information reports in accordance with FSA requirements

2. The minimum amount per copy shall not be less than 500,000 ringgit or other equivalent in doubtful foreign currency

It will also take into account the risk profile of the legal entity and the nature, scale, complexity and diversity of the business activities

4.Requesting the applicant legal person to set up a physical office in Labuan with office equipment for commercial business purposes;

5.Corporate controllers, directors and chief officers are required to meet suitability requirements;

6.Establish an appropriate internal control system within the company to oversee business operations, compliance, corporate governance and risk management;

7.ensure that the prime broker or liquidity** of the company (money broker) is a compliant regulated entity;

8.Have a Labuan-certified external auditor to conduct annual financial audits and report to the FSA;

9.Keep transaction records and account records, keep monthly records of customer funds, and do not misappropriate customer funds;

10.Digital systems must have technical support;

11.Conduct due diligence on clients, disclose counterparty risk levels to clients, clarify the pricing of financial instruments, and ensure that risk buffers such as stop-loss orders are in place;

Introduction to Labuan license and application process in Malaysia

LFSA (Labuan Financial Services Authority).

Founded in 1996 as Malaysia's offshore financial regulator, the Money Broking License (LFSA) has become a highly sought-after license for brokers in Asia in recent years.

Regulatory functions

The main functions of the LABUAN FSA are to license LABUAN IBFC companies, supervise licensed entities and ensure that all entities comply with internal and other jurisdictional regulations. The LABUAN FSA also formulates policies and regulations to regulate the LABUAN IBFC in an orderly manner

Regulatory objectives

To promote Labuan as an international business financial services centre;

Orderly management of the Labuan IBFC and development of national objectives and policies;

Acts as the leading regulatory and enforcement agency to manage Labuan's international business and financial services industry.

Advantages:

Labuan Malaysia license, which can be operated onshore or offshore, is free in form. Labuan's ** business tax rate is as low as 3%, and the non-** business tax rate is 0, and the tax rate is flexible and compliant. At the same time, starting from 2019, the onshore business transaction type is a Labuan company's transactions with Malaysian local companies and offshore business (i.e. all international activities of Labuan companies, the tax rate is 3% of the net profit of the enterprise.

A variety of entity architectures can be built

Eligibility

Step 1: Local company formation

1) English name: English registration, Chinese name registration is not accepted.

2) Scope of business.

3) Registered capital: MYR 500 000

4) Scanned copies of the ID cards and passports of the directors and shareholders.

5) Provide a local director, address, secretary.

Step 2: The process of applying for an LFSA license in Malaysia

1. Fill in the application form.

We need to get the following documents from your side:

1) Notarized passport copies of directors and shareholders;

2) Notarized address certificates of directors and shareholders. (This can be a utility bill or a bank statement).

2. KYC document application requirements.

3. The above documents need to be scanned and sent for preliminary review;

4. After the audit is completed, the original will be sent by express;

The time for the whole process is generally about 50 working days.

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Malaysia Labuan license application process.

His scope of supervision includes: foreign exchange, digital currency issuance, asset management, and the money brokerage license provided by the LFSA is different from other licenses, which is the only license issued in Asia for Straight Through Model (STP) only.

Brokers licensed under this license 156 can only operate 6991 order matching business, 3780 and are not allowed to be the counterparty to any orders.

Applying for a Malaysian license requires a physical office and staff, so there will be a fixed monthly subscription.

Labuan, Malaysia is a mid-shore property, which can be operated onshore or offshore, and the form is free.

Labuan companies can apply for various financial licenses, such as licenses, foreign exchange licenses, leasing licenses, etc., and pass on the effect from generation to generation through private families**. The business of Labuan company includes virtual currency trading, virtual currency Labuan financial business structure is the first choice for every entrepreneur to build an offshore financial structure!

Regulatory objectives1 To promote Labuan as an international business financial services centre;

2. Manage the Labuan IBFC in an orderly manner and develop national goals and policies;

3. To act as the leading regulatory and executive agency to manage Labuan's international business and financial services industry.

Labuan Investment Holding Company can invest in 6 different assets to hold:

Information for applying for a Labuan license in Malaysia:

1. Scanned copy of the registrant's passport and identity.

2 All registration information of the company.

3 Physical office address.

Malaysia License, Malaysia, Malaysia Registration, Malaysia Company.

OUR SERVICES.

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