The 10 Steps to Labuan offshore company incorporation
Since 2003, Healy Consultants Group PLC assists our Clients to incorporate companies in Labuan. Please find below a description of steps involved in incorporation of a Labuan offshore company. Companies operating in regulated industries such as banking and finance are subject to additional license requirements. The general process of incorporating a Labuan company is given as below:
- Before starting incorporation in Labuan, our Client i) settles Healy Consultants Group PLC’s engagement fees; ii) signs and returns our Client engagement letter and iii) provides our Client with a list of documents required to form a Labuan;
- Healy Consultants Group PLC drafts a detailed strategy document, mapping out weekly steps for establishing an offshore business in Labuan, optimizing transparency and setting Client expectations;
- After corporate structure is agreed, Healy Consultants Group PLC prepares the Labuan company incorporation forms for Client signature and courier return;
- Healy Consultants Group PLC reserves a name for our Client’s company by submitting an application form to the Labuan Financial Services Authority (FSA). The company name is reserved for 3 months;
- Healy Consultants Group PLC will also draft a detailed M&AA for our Client’s company;
- Thereafter, Healy Consultants Group PLC legally incorporates the company by submitting to the Labuan FSA the following: i) company M&AA; ii) statutory declaration of compliance by the trust company; iii) particulars of directors and iv) incorporation fees;
- Healy Consultants Group PLC’s banking team assists our Clients open a corporate account in Labuan. Our Client will deposit the share capital into the bank account, and provide Healy Consultants the bank certificate of deposit;
- Healy Consultants Group PLC assists our Clients’ activate the internet banking facility;
- If required, Healy Consultants Group PLC will assist our Clients to apply for business specific Labuan company licenses;
- Following engagement completion, Healy Consultants Group PLC couriers a full company kit, including original corporate documents, unopened bank correspondence and a Client feedback survey to assess the quality of Healy Consultants Group PLC’s Labuan offshore company incorporation services.
Frequently asked questions
Do I need to open a corporate bank account in Labuan for my company?No, the bank account of the company does not need to be opened in Labuan. It can be opened in another jurisdiction. Our Clients often request our Firm to open the account in Singapore.