Trust and Corporate Service Providers

It is a requirement under the LCA that a Labuan company must employ the services of a trust company that will act as the agent for incorporating or registering companies under the LCA.

It also provides the registered office and resident secretary, and performs the secretarial duties of the Labuan Company, such as lodgement of any documents required under the LCA. The trust company may also provide management and accounting services to the Labuan Company and make available any of its trust officers for appointment as resident director and resident secretary.

With regards to physical presence, a trust company shall establish a functional office in Labuan and have at least two approved trust officers, one of whom is domiciled in Labuan. The trust officers are employees of the trust company who have been approved by Labuan FSA as trust officers.

Other activities that a trust company may carry out include being a trustee, agent, executor or administrator pursuant to the objectives of the trust company.
key highlights

  • 5.2% increase in total number of LTCs
  • 99 Trust Officers and 97.8% are Malaysians
  • 242.2% increase in income from advisory services

  • Application Requirements
  • Operational Requirements
  • Fees
  • Application Requirements
    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.
  • Operational Requirements
    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.
  • Fees
    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.

  • Application Requirements
  • Operational Requirements
  • Fees
  • Application Requirements

    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.

  • Operational Requirements

    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.

  • Fees

    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
Client Charter and Related Guidelines and Circulars for Labuan Trust Companies

Client Charter

Where applications meet the necessary requirements, Labuan FSA is committed to adhere to the following delivery time:
Application
Client Charter (Working Days)
Labuan Trust Company/Private Trust/Managed Trust
30
Find Labuan Banks and Investment Banks here
List of Company Secretarial Providers

  • A - B
  • C - I
  • J - R
  • S - Z
  • A - B
    • AAE International Trust Ltd
    • ADITI TRUSTEES LIMITED
    • AL-AMAN Trust Services Limited
    • ALPADIS TRUST (LABUAN) LTD.
    • AMANAH RAYA (LABUAN) LIMITED
    • AMAX Trust & Advisory Limited
    • AMS Trust Company Limited
    • ARLC Amanah Limited
    • BANK ISLAM TRUST COMPANY (LABUAN) LTD
    • Baxian Trust (Labuan) Limited
    • BBS TRUST INT'L LIMITED
    • Beyond International Trust Ltd.
    • Bona Trust Corporation

  • C - I
    • CHU BOW TRUST COMPANY LIMITED
    • CIMB BANK (L) LIMITED
    • Corporate Services Trust Co Ltd
    • CP TRUST CO LTD
    • DCS Trustee Ltd
    • ERNST & YOUNG TRUST LTD
    • EURASIA TRUST A.G.
    • HANS ADVISORY & TRUST CO LTD
    • HMR KONSULTAN (LABUAN) LTD.
    • IFS Trust Labuan Limited
    • IN FIDUCIARY SERVICES (LABUAN) LIMITED
    • INDAH TRUST LIMITED
    • INTEGRATED AGENTS TRUST LTD
    • ITMC Fiduciary Limited

  • J - R
    • JOSH M Trust Limited
    • JTC Kensington Labuan Limited
    • Kensington Trust Labuan Limited
    • Labuan INS International Trust Ltd
    • LAW & COMMERCE TRUST LIMITED
    • MASYI Trust Limited
    • Multi Trust Ltd.
    • NOBLEHOUSE INTERNATIONAL TRUST LTD.
    • PACIFIC TRUSTEES LABUAN LTD.
    • PB Trust (L) Ltd
    • Portcullis Trust (Labuan) Ltd
    • Power Point Trust (Labuan) Limited
    • QX Trust Co. Ltd
    • RHB INTERNATIONAL TRUST (L) LTD
    • RKG KLOZER TRUST LTD (formerly known as KLOZER TRUST SERVICES CO LTD)
    • RP Trust Inc.

  • S - Z
    • SEDGLEY MANAGEMENT SERVICES LTD
    • Signature Trust Ltd
    • SITITRUST & ADMINISTRATOR LIMITED
    • SOAS Trust Limited
    • SSTC Ltd (formerly known as SHEARN
    • SKINNER TRUST COMPANY LTD.)
    • TMF Trust Labuan Limited
    • Tricor Trustco (Labuan) Ltd.
    • TRISTAR MANAGEMENT LIMITED
    • Trust Labuan Tax Inc
    • UHY Trust Int'l Limited
    • Vistra Trust (Labuan) Limited
    • WA Trust Ltd (formerly known as Weld Asia Trust (Labuan) Ltd)
    • ZICO Trust Limited
    • ZRC International Trust Inc.
    • ZTJX Trust Ltd

FAQs
  • 1. What is Labuan banking?

    Labuan banking means the business of receiving deposits on current accounts, deposit accounts, savings accounts, and includes the investment banking business, Labuan financial business, Islamic banking business and such other transactions and terms and conditions as specified by Labuan FSA in any currency including Malaysian Ringgit where permitted by Bank Negara Malaysia.

  • 2. What is investment banking?

    Investment banking means the business of providing credit facilities and consultancy and advisory services relating to corporate and investment matters, including making investments on behalf of any person. Other activities include undertaking foreign exchange transactions, interest rate swaps, dealings in derivative instruments or derivative financial instruments or any other similar risk management activities.

  • 3. What is Islamic banking?

    Islamic banking is defined as a banking business that is in accordance with Shariah principles.

  • 4. Who may apply for Labuan banking licence?

    Organisations that meet the following minimum criteria may apply for a Labuan banking licence:

    • Must be a bank or financial institution
    • Possesses a sound track record
    • Accorded a good credit rating by acceptable rating agencies
    • Supervised by a competent regulatory authority; and
    • Conforms to generally accepted standards of international banking practices or the Bank for International Settlements (BIS).

  • 5. What is the minimum working minimum fund for an investment bank?

    RM10 million or its equivalent in any other currency.

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Stay ahead of the game
Access a wealth of information from Labuan IBFC from reports on forward-thinking research to insightful articles.
Get in touch
Interested to setup your business in Labuan? Speak to our dedicated advisors to find out more.
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