Area of
Business
Discover the wide range of business and financial services available in Labuan IBFC
About Labuan Trust Companies
    1. Submit a completed Form LTC “Application for Licence to Carry on Labuan Trust Company Business” to Labuan FSA as required under Section 61(1) of the LFSSA. 
    2. Provide a business plan that includes, but is not limited to, the following: 
      • Types of products and services to be offered 
      • Target market specifying the clients, geographical spread and industry focus 
      • Management team 
      • Manpower planning/organisation chart; and 
      • Three (3) years’ financial projections (properly drawn up income statements and balance sheet quoted in foreign currency). 
    3. Show evidence of a paid-up capital or working funds of at least RM150,000 or its equivalent in any foreign currency. 
    4. Obtain a professional indemnity insurance policy with a coverage of not less than RM1 million or its equivalent in any foreign currency and remain indemnified throughout its operations. 
    5. Provide a letter of guarantee or undertaking to Labuan FSA for the liability of the Labuan trust company. 
    6. Provide full disclosure of shareholdings of the company, including the ultimate beneficiaries. This includes the submission of a corporate profile (eg name and type of legal entity, principal business/activity, board of directors) for corporate shareholders, and detailed backgrounds (eg copy of passport or ID and comprehensive resume) for individual shareholders. 
    7. Ensure that the directors and officers responsible for the management of the proposed Labuan trust company in Labuan IBFC are fit and proper persons pursuant to Section 4 of the LFSSA and the Guidelines on Fit and Proper Person Requirements issued by Labuan FSA. 
    8. Any other additional information as requested by Labuan FSA.
    1. Establish a fully operational office in Labuan. 
    2. Maintain separate telephone and facsimile lines and have its own letterhead and stationeries. 
    3. Appoint at least two trust officers approved by Labuan FSA, one of whom must be based in Labuan. 
    4. Have proper arrangements in place to account for and keep all assets and other valuables that it has received in its capacity as trustee duly separated from its own assets and liabilities. 
    5. Maintain capital or working funds of at least RM150,000 or its equivalent in any foreign currency at all times. 
    6. Obtain written consent from Labuan FSA prior to making any changes to its shareholding and directorship, including the establishment of any subsidiary or office other than its principal place of business in Labuan. 
    7. Ensure compliance with the Guidelines on Anti-Money Laundering and Counter Financing of Terrorism. 
    8. Ensure that all its books and records, including records of its clients are kept and made available for inspection in Labuan. 
    9. Comply with guidelines, directives and reporting requirements issued by Labuan FSA. 
    10. Notify Labuan FSA of any changes to its place of business in Labuan or changes to its trust officers within seven days from the effective date of the change specified, through the lodgement of Form 4 or Form 5 of the LFSSA, respectively. 
    11. A Labuan trust company acting as a trustee of a Labuan Islamic trust under the Labuan Islamic Financial Services and Securities Act 2010 shall appoint a qualified person as a Shariah adviser, or consult a qualified person to advise on the operations and ensure Shariah compliance.
  • Type of Fees
    Amount
    Annual Fee
    RM15,000
    USD5,000

Labuan Managed Trust Company
A Labuan managed trust company is a trust company licensed under the Labuan Financial Services and Securities Act 2010 (LFSSA) but is managed by a fully operational trust company in Labuan. 

A managed trust company is not required to establish its own physical office in Labuan, but is required to appoint at least one trust officer approved by Labuan FSA, who may be the employee of the appointed Labuan trust company.
    1. Submit a duly completed Form LTC “Application for Licence to Carry On Labuan Trust Company Business” as required under Section 71(1) of the LFSSA. 
    2. Appoint a Labuan trust company as its manager to manage its trust company business on its behalf and provide the detailed management agreement executed with the manager. 
    3. Provide a business plan that includes the following: 
      • Types of products and services to be offered 
      • Target market specifying the clients, geographical spread and industry focus 
      • Management team 
      • Manpower planning/organisation chart; and 
      • Three (3) years’ financial projections (properly drawn up income statement and balance sheet quoted in foreign currency). 
    4. Provide full disclosure of shareholdings of the company and the ultimate beneficiaries. This includes the submission of a corporate profile (eg name and type of legal entity, principal business/activity, board of directors) for corporate shareholders, and detailed backgrounds (eg copy of passport or ID and comprehensive resume) for individual shareholders. 
    5. Ensure that the directors and officers responsible for the management of the proposed Labuan managed trust company are fit and proper persons pursuant to Section 4 of the LFSSA and the Guidelines on Fit and Proper Person Requirements issued by Labuan FSA. 
    6. Submit a certified copy of the certificate of incorporation or constituent document of the applicant. 
    7. Provide a letter of good standing or such other document of this nature from the relevant authority of the applicant's home country where applicable. 
    8. A Labuan managed trust company acting as a trustee of a Labuan Islamic trust under the Labuan Islamic Financial Services and Securities Act 2010 shall appoint a qualified person as a Shariah adviser, or consult a qualified person to advice on the operations and ensure Shariah compliance.
    1. Appoint at least one trust officer approved by Labuan FSA, who may be the employee of the appointed manager (Labuan trust company).
    2. Have its own letterhead and stationeries and its office can be the office of the Labuan trust company who is managing the Labuan managed trust company.
    3. Ensure that all its books and records, including records of its clients are kept and made available for inspection in Labuan IBFC.
    4. Keep all assets and other valuables that it has received in its capacity as trustee duly separated from its own assets and liabilities.
    5. Obtain written consent from Labuan FSA prior to making any changes to its shareholding and directorship.
    6. For a managed trust company that is a licensed foreign company, notify Labuan FSA for any changes to its shareholding and directorship.
    7. Notify Labuan FSA on any changes to its managed trust company manager within seven working days from the effective date of change specified.
    8. Ensure compliance with the Guidelines on Anti-Money Laundering and Counter Financing of Terrorism.
    9. Comply with guidelines, directives and reporting requirements issued by Labuan FSA.
  • All licensees are required to pay to Labuan FSA annual licence fees on or before 15 January of each year.
    Fees
    Amount
    Annual Fee
    RM15,000
    Fee for application of Labuan managed trust company licence
    RM1,000
Friends of
Labuan IBFC
We would like to hear from you
Copyright © labuan ibfc
Ooops!
Generic Popup