Eternity Law International — News — Banking license in Labuan for sale

Banking license in Labuan for sale

Published:
October 8, 2020

If you are looking for new business opportunities abroad, we recommend you considering not only countries but also their regions. For example, the Labuan region in Malaysia.

Labuan is a federal territory with an independent tax and business law systems. It is situate between Malaysia, the Sultanate of Brunei and the Philippines, so you will easily set up a business in these areas.

Today Labuan is recognize as an offshore zone and financial center of Asia. Its main advantages are connect with low taxation and the absence of undue attention from leading states.

Labuan advantages:

  1. few types of legal entities to choose from;
  2. no requirements to the residence – you can operate a business without the manager from Labuan;
  3. no requirements for the share capital;
  4. no requirements for the reporting;
  5. offshore companies in Labuan have a special tax status. There are two types of activities that determine the tax regime of an offshore company: trading and non-trading company;
  6. 3% tax;
  7. sales tax, excise and export-import duties are not charged;
  8. close location to Hong Kong and Singapore.

TYPES OF LICENSES

This region is ideal if you plan to get a banking license. There are 2 types of licenses:

  1. bank license
  2. investment bank license.

They cover the same activity, but with slight differences. For example, by the investment license, you can not receive a deposit.

HOW TO GET A LICENSE?

The procedure for obtaining a license is quite simple. The Labuan Financial and Securities Act 2010 regulate it. It is quite complete and includes all possible nuances that arise in the process of registering a new business.

The issuance of licenses and control over their further use is the responsibility of the Labuan Financial Services Authority. For business, it is very convenient since all data is stored in one instance and you always know whom to contact if you have problems or need government support.

To get a license you will need a standard package of documents, as well as confirmation of your credit rating and solvency.

It will be better to enter the market in case you already have experience in banking. It will help you to understand the nuances of doing business in Asia, as well as make you a profitable partner for the investors.

A pack of documents should include:

  1. application with the name of the company;
  2. business plan for 3 years;
  3. inforomation on your previous experience;
  4. if you plan to open a branch of the foreign company, you need to submit an audit for the last 3 years of the business activity;
  5. personal data of business owners.

A full list of documents with comments can be obtain from the FSA or our specialists. It is always better to submit more documents than required. Especially it concerns those documents that can confirm your solvency, credit rating and your personal experience in banking.

Some documents may be in an arbitrary form, for example, information about your previous experience. However, consult with a specialist before submitting documents. Let him check how correct your documents are. Otherwise, you may lose the chance to get a license.

The term of issuing a license takes up to four months, it is necessary to renew each year. For detailed advice on obtaining a banking license, please contact our specialist.

Please join our Telegram channel in order to keep updated for the new offers.

You could be interested

Investment license in Czech Republic

Due to its stable political and economic environment, investing in the Czech Republic has become an attractive option for many foreign investors. The Czech Republic has a highly skilled and educated workforce, a strategic location in the heart of Europe and an open and welcoming attitude to non-citizen investment. To encourage investing, the Czech Republic...

PSD3: Challenge for EMI and PI

The ever-evolving field of monetary technology, often referred to as FinTech, has been a driving force behind the transformation of PI and EMI. Against this backdrop, Payment Service Directive 3 (PSD3) is set to become a significant milestone, ushering in a new era of rules and standards. Within this evolving framework, electronic money institution authorization...

To register a company in the Marshall islands

To register a company in the Marshall islands, what are the advantages? The Marshall Islands are located in the Pacific Ocean, Micronesia region. One of the most significant sources of expanding of the budget of the islands is the registration of organizations carrying out their business activities at the international level. Despite the fact, that...

Canadian Nuances of MSB Registration

Regarding the Canadian nuances of MSB registration, there is a lot of confusing and extremely incomprehensible information, which often misleads a person who wants to start working in this area. Companies that offer financial services to consumers are required to register and obtain FINTRAC approval. However, the term “license” itself is not used by the...

Offshore company Barbados

The cost of registration 1 000.00 USD The cost of renewal 850.00 USD Number of Directors 1 Corporate tax 0.00% Paid up capital 0.00 Requirements for mandatory reporting No Barbados is a small island, with a total area of 450 square kilometers, located in the Eastern part of the Small Antilles ridge. Like many other...

Company registration in Scotland

Registration fee 1 000.00 EUR The cost of renewal of the company 900.00 EUR Number of Directors 1 Corporate tax of 0.00% Paid in Charter Capital 0.00 Requirements for mandatory reporting Yes SET OF DOCUMENTS: Certificate of incorporation (Certificate of incorporation) Limited Liability Partnership Agreement (Memorandum of Association of a Limited Partnership) Minutes of the...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360