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Labuan Money Broking
  • The submission should include, but is not restricted to, the following:
    1. A letter of undertaking from the head office / parent company to undertake any liability arising from the operations of its branch or subsidiary in Labuan.
    2. The controller, director or chief executive officer and the board of directors of the applicant company must be fit and proper persons. Prior written approval of the appointment must be obtained from Labuan FSA.
    3. A business plan detailing the operations and strategies of the applicant.
    4. Audited financial statements for the last two years, if applicable.
    5. Any other information that is relevant to the application.
  • The applicant company:
    1. must have a paid up capital of RM300,000 (unimpaired by losses) or its equivalent in any foreign currency;
    2. must inform Labuan FSA of any changes in its shareholding structure and/or any erosion of paid-up capital;
    3. must maintain a physical presence in Labuan. All dealings must be done through this office in Labuan;
    4. can only transact business in foreign currency and not deal in Malaysian Ringgit except for the purpose of defraying administrative and statutory expenses;
    5. is prohibited from dealing with residents other than authorised dealers as specified under The Financial Services Act 2013
    6. is required to appoint an auditor; and
    7. must notify Labuan FSA of any amendments or alteration to any information in its constituent documents.
  • All licensees are required to pay to Labuan FSA annual licence fees on or before 15 January of each year:
    Type of Fees
    Amount
    Annual Fee
    RM5,000
    USD1,500
    Marketing Office Fee
    RM7,500
    USD2,500
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