Thursday, 25 October 2018

A quick look on some FAQ on Labuan bank account

Is There any Need to Come to Labuan for Opening of Account?

Though it is not compulsory to come to Labuan to open of a bank account but still it is recommended for foreign investors to come to Labuan and open a Labuan bank account after knowing all the complete information about the bank. It is always beneficial and favourable to deal with the bank account opening procedure by consulting with the specialists who know about the procedure and can guide the investors in putting the accurate documents and other information to the bank.

Is There any Limitation on the Number of Currencies to Use in the Account?

The foreign investors are free to use their preferential currency in accordance with their business requirements. Any investor can set up Labuan bank account in multiple currencies and can proceed with their work. The Labuan jurisdiction gives flexibility to business investors and therefore makes the bank account procedure and other bank related policies quite favourable to the foreign business investors.

How about Doing International Payments with a Labuan Bank Account?

The investors will find a good time by opening a Labuan bank account as they are free to perform any international payments without thinking of any restriction. But like any other banking provisions, the investors have to keep in their mind about the costs associated with the foreign payments as what is decided by the bank in the Labuan and you have to adhere to those costs while making any international payments.

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Contact Us
Labuan Head Office Level 2,Lot 19,
Phase 3, Lazenda Commercial Centre,87007
Labuan F.T., Malaysia
Telephone: +60321613430

Monday, 20 August 2018

An Introductory Introduction of the Labuan Foundation

The Labuan foundation is a specific corporate body that is fully governed by a separate legal entity basically established to hold assets to manage them and benefit class of people on a contractual basis. This foundation has a separate legal system that is basically used only for wealth management and charitable purposes. Here in this blog we will highlight more on the structure of the Labuan foundation for your better understanding.

Registered Office Location

This is absolutely compulsory for a Labuan foundation to be registered and have its registered office. The administration and other operations are run and function according to the contractual basis. Similarly the relationships in the foundation are also carried on contractual basis and governed by the governing documents.


The charter is the written grant of the legislative power of the country that prescribes few parameters to which the Labuan foundation has to be managed and governed.


The management comprises of a council, an officer and a secretary where the council is responsible for carrying out the general managerial tasks of the foundation, so that the purpose for which the foundation is established shouldn't be violated. The officer is responsible for the administration work of the foundation run in a smooth manner. The secretary is the representative of the foundation and performs all fillings of documents to the Labuan financial services authority.


The assets put in the Labuan foundation are the property of the foundation and are only prescribed for the benefit of clearly defined purposes.

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Tuesday, 24 July 2018

A Quick Study on Employee Labuan Visa

The Labuan is an interesting place for quite a while now, which has the magnetism of attracting many employees outside the Malaysian region to work over here and earn quite substantially. But in order to fulfill the desired requirements, the employees do have to fetch an appropriate Labuan visa as per their stay, length the service and other similar requirements. Mostly the non-Malaysian residents are not allowed to enter Labuan and conduct a business without a valid Labuan visa and so are instructed to attain an appropriate Labuan visa. Now for getting the correct and updated information about visas, you can always consult the services of Simplyoffshore which is the most reliable consultancy dealing with providing the most updated services for different types of visa for Labuan.

Professional Visit Pass

This visa is applicable to those employees who render their services to a Labuan company on behalf of the overseas company. This visa is directed to those individuals who got selected by the overseas company in their native country, but has to serve the Labuan company on the wish of their overseas company. The professional visit pass is valid for up to 12 months. The visa has to be applied at the Malaysian Immigration Department..

Employment Pass

This visa is restricted to three types of employees who are:-
  1. in either holding a top managerial position in a foreign company based in Labuan
  2. professional or mid-level managerial post
  3. skilled and professional non-executive post
The condition is that the job offer made from a Labuan company should be about 2 years or more and should also fulfill the minimum salary criteria requirement.

Now here are two major types of employee Labuan visa mentioned, but you can also explore other visas, which are applicable for other purposes and gain substantial knowledge about the visa types and its applicability in Labuan.

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Thursday, 19 July 2018

A Thoughtful Thought of Why Should You Go for a Labuan Offshore

Any foreign investor who is heading for a big name in the business world then he or she would definitely want to try their fate in the offshore business arena where the landscape and opportunities are in abundant with dynamic resources. In a scenario like this, the Labuan offshore is a great way to start with your new business directions and endeavours. Operating with Labuan offshore is certainly allowing yourself to conduct business proceedings, bank transactions and other financial matters in a highly defined and tax saving system where you not only can realize your dreams but also can earn substantially through your best efforts. Now here in this blog we have mentioned top reasons that can aid in finalizing the decision of setting up your Labuan offshore is a successful venture.

Efficiency on Tax Issues

The Labuan jurisdiction hasn't placed stringent procedures for foreign investors both in terms of policies and in expanding businesses. As a foreign investor, you will admire in having the flexibility for doing cross border businesses without having to worry about the taxing schemes as the jurisdiction gives great tax efficiency.

Protection from Future Liabilities

The Labuan offshore company is the best place where you can place your assets by imbibing a proper and incorporated legal structure that will surely give you a strong and full protection from future liabilities and let you avail more stable policies which in turn would again benefit your business and establishment of the offshore company.
These two are the major factors which drive you to build a Labuan offshore but for more beneficial reasons, you can always explore the Internet and learn more about offshore companies and the establishment.

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Friday, 6 July 2018

A Brief Guideline on Dubai Offshore Company Establishment

Dubai is one of the best jurisdictions which gives promising features to incorporate a Dubai offshore company as Dubai has emerged as a global hub of digitalization where the foreign investors can safely invest in their business dreams. The Dubai offshore company brings lots of opportunities and give high profits and a flexible way to target global customers. For better understanding here in this blog we have summarized a short go through on how you can establish an offshore company in Dubai.

Fix a Company Name

You should come up with three unique company names out which one name will be finalized by the registration authorities he company name must end with Ltd only.

Finalize the Capital Investment

You can invest as much as you can afford in the Dubai offshore company, there is no restriction on the amount of money can be invested in the offshore company.

Decide on who will be Directors and Shareholders

Well for Dubai offshore company, a minimum of two directors and one shareholder is absolutely required to form the offshore company at the time of commencing the operations of the company. So think well in advance and finalize the directors and shareholder.

Open a Bank Account

A bank account is necessary for doing all the transactions and operations of the Dubai offshore company for which you need to open a bank account in Dubai and need to submit the following documents for bank account processing.
  • Passport Copy
  • The bank statements of last six months
  • Completed Bank forms
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Monday, 2 July 2018

Mind-Blowing Advantages of the Labuan Company Formation

 Undoubtedly, the Labuan is one of the most attractive regions of Malaysia that has become as the promising land of offshore activities in Asia so far. Spanning a long period of time, the Labuan company formation is seen as the major success factor for foreign investors because of the taxation regime and other lucrative benefits provided by Labuan to the foreign businesses and giving the foreign investors a brighter way to go ahead with the business endeavours. With these huge facilities and a successful platform, it's time now to explore more about the Labuan company formation and take a look at how more it can offer a feasible platform to foreign investors.

Any foreign business person establishing companies in Malaysia does require a business associate who should be a local citizen but the commercial legislation available in Malaysia doesn't restrict the foreign company formation and give 100% foreign ownership which is equally followed in Labuan too but Labuan legislation doesn't entitle the Labuan company formation to have a director to be a citizen of Malaysia as the legislation allows the investor to act both as the company's shareholder and a director.

Furthermore, there is no trouble as such come across while going through the company registration process in Malaysia as the registration process gets completed in maximum two weeks which further gives relief to the foreign investor of giving the flexibility to the investor of not being necessarily present in the Labuan during the whole Labuan company formation process and can easily complete the process even through the native location.

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Friday, 29 June 2018

Significant Advantages of Outsourcing to Accounting Book-Keeping Services Malaysia

Are you feeling being lacking behind in the business arena? Are you finding it difficult to retain your client or to fetch more clients? Or is your business growth slowing down? If so, then probably the business responsibilities are huge and you probably making some wrong decisions or not able to balance the projects which are lined up. These discrepancies occur only when you are busy doing things which you can outsource and not concentrating on the real scenario of the business. To address this disbalance, here we have mentioned few advantages of outsourcing Accounting Book-Keeping Services Malaysia that is one of the responsibilities which you can definitely let the other party to handle for execution and can save huge amount of time concentrating on other business parameters.

Can Achieve More Progress

Isn't it good to have more time for enhancing efficiency, growth and operations of your firm rather than indulging in doing accounting and book-keeping for the major duration of time? If you are really interested in making good returns on investment and want to let the business grow then put all your efforts and time in business growth and leave accounting work to Accounting Book-Keeping Services Malaysia that is the best to get the things managed, reviewed and run.

Provides Good Quality Check

Businesses don't want delays and errors to arise at any stage of business expansion or in the growing stage. For such critical management, the outsourcing to Accounting Book-Keeping Services Malaysia is definitely a step ahead in making stringent decisions for the betterment of the business as you can now be more focused on key aspects and also stay assured of having the 100% authentic accounting services.

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A quick look on some FAQ on Labuan bank account

Is There any Need to Come to Labuan for Opening of Account? Though it is not compulsory to come to Labuan to open of a bank acco...