The 12 Steps to Labuan offshore company incorporation in 2023
Since 2003, Healy Consultants’ Group PLC has been assisting Clients to incorporate companies in Labuan.
Please find below a description of steps involved in incorporating a Labuan offshore company. Companies operating in regulated industries such as banking and finance are subject to additional license requirements.
- Before incorporation our Client i) settles Healy Consultants Group PLC’s engagement fees and ii) signs and returns our Client engagement letter. In return, we provide our Client with a list of documents required;
- Our team consults with Labuan lawyers and government officials to confirm any economic substance requirements for the new company;
- Healy Consultants Group PLC drafts a detailed strategy document with a weekly guide on establishing an offshore business in Labuan; optimizing transparency and meeting client expectations;
- On agreement of the corporate structure, Healy Consultants Group PLC prepares the Labuan company incorporation forms for client’s signature to be returned by courier;
- 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 name is reserved for 3 months;
- Healy Consultants Group PLC will 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 clients open corporate accounts 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’ to activate 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.
- To reinstate a company in Labuan takes approximately one month. All original corporate documents must be signed by the Client, and our affiliate office submits the reinstatement application to the Labuan authority.
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.