• Continued growth across the board in 2018, entrenching Labuan IBFC’s role as Asia’s preferred midshore business and financial centre.
    Continued growth across the board in 2018, entrenching Labuan IBFC’s role as Asia’s preferred midshore business and financial centre.
    • 12.5% growth in company incorporation
    • 11.5% growth in trust and corporate service providers
    • 19.1% growth in insurance premiums; 64.7% of which was foreign business
    Find out more in Labuan IBFC’s inaugural market report.
Latest HighlightS
Announcement: Computer Based Examination for Trust Officer
21 January 2020
Kindly be informed that effective from 1 January 2020, Labuan FSA has introduced a computer-based examination (CBE) for applicant who has satisfied all the requirements and allowed to sit for the trust officer examination. The CBE will be conducted in Labuan FSA's office in Labuan and the applicant is advised to refer to the schedule enclosed on the date of examination or based on the date as agreed by Labuan FSA. We also wish to inform that the processing fee for the application of trust officer is USD350 as pursuant to the Circular on Payment of Fees and Other Chargeable Activities in USD Denomination dated 1 November 2019. Please contact us should you require further clarification
NOTIFICATION: Business Restriction on Labuan Licensed Entities
19 November 2019
Labuan Financial Services Authority (Labuan FSA) has imposed business restriction on the following Labuan Licensed Entities pursuant to section 193 of the Labuan Financial Services and Securities Act 2010 for non-compliance to minimum capital and/or other regulatory requirements.
Circular on Payment of Fees and Other Chargeable in United States Dollar (USD) Denomination
06 November 2019
Kindly be informed that Labuan FSA has issued a Circular on Payment of Fees and Other Chargeable in United States Dollar (USD) Denomination on 1 November 2019. In this regard, all industry players are required to make payment of licence, registration, approval and processing fee in USD denomination with effect from 1 January 2020. In addition, all Labuan licensed entities are statutorily required to pay their annual licence fees in USD denomination, on or before 15 January 2020. We also wish to inform that all fees charged are based on the Regulations and shall be paid directly to the bank account of Labuan FSA. Industry players are advised to refer to the Circular on the fee charged by Labuan FSA to avoid unnecessary payment to irresponsible party(s). Please contact us should you require further clarification.
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