Obtain a Business License in Labuan

As a part of the process of company incorporation in Labuan, investors may also be required toapply for a license that can grant them the right to perform specific commercial operations. For this, they will have to initiate certain formalities, through which they canobtain a business license in Labuan.

For instance, foreign investors may opt to set up a company in Labuan carrying out trading, insurance, re-insurance, leasing, wealth management activities and others. Some of these activities will require a business license in Labuan; our consultants can inform on the activities that must be licensed.

Business license in Labuan for company management activities

Investors interested in starting a business that provides company management services must apply for a business license in Labuan. The application is conducted through the Labuan Financial Services Authority (FSA), by completing Form LCM.

The legislation regulates 2 main ways to obtain a trade license in Labuan – standard and expedite. The first option takes a longer period of time to complete and it has a low processing fee, while the 2nd one takes half the time necessary for the first one, but has a higher processing fee.

Thus, a trade license in Labuan following the standard route can be issued in a period of 30 working days, after the payment of the USD 500 licence application fee, while the issuance of a license following the 2nd route takes 15 working days (an additional fast-track fee of USD 1,500 applies).

Our consultants in company incorporation in Labuan can help investors prepare their application form (the document is extensive and it is recommended to complete it with the assistance of professionals). Some of the information investors must present are:

1. the type of trade license in Labuan (conventional or Islamic license);
2. the legal entity under which the company operates (Labuan offshore, subsidiary, branch, etc.);
3. the number of shareholders the company has and their nationality;
4. the company’s registered address, types of activities, trade name, incorporation details, etc;
5. the experience and education of shareholders and directors.

Other types of activities that require a business license in Labuan?

The issuance of the trade license in Labuan is imposed for other business activities too. Those who open a company in Labuan or investment funds will need to apply for a license if they are involved in any of the following:

1. mutual funds;
2. international commodities;
3. investment banking;
4. leasing;
5. insurance;
6. securities.

Please mind that a license is mandatory for other activities that are not related to finance and investment. For instance, those who develop food-related activities are also required to apply for suitable licenses.

The obligation appears in accordance with the stipulations of the Licensing of Food Establishment (Federal Territory of Labuan) By-Laws 2016. We invite businessmen to address our team of consultants in company formation in Labuan if they need legal representation when entering this industry.

We also mention that license holders are required to renew their license documentation on a yearly basis and for this, an annual license fee applies. The value of a fee varies from one type of trade license in Labuan to another. Its value is also influenced on whether the license is a conventional or an Islamic one.

Labuan is established as an International Business and Financial Center (IBFC), set up by the Malaysian authorities in 1990. Those who will engage in economic activities here may develop only certain operations, approved by the local law. For more information, we invite foreign businessmen to contact us. Our consultants can also help in the process of registering a business and starting a Labuan offshore company. We can also help you if you want to start a business in Uzbekistan through our local partners.