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Labuan Marketing Office

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Guidelines on establishment of Labuan Marketing Office by Labuan companies outside of Labuan Island in Malaysia had been issued by the Labuan Financial Services Authority (“Labuan FSA”).

All Labuan companies must submit the application for establishment of Labuan Marketing Office to Labuan FSA for approval.

 

SCOPE OF ACTIVITIES OF THE LABUAN MARKETING OFFICE (LMO)

  • Limited to facilitating meetings with existing clients; and establishing and maintaining contacts with potential clients of the Labuan Company.
  • Shall not undertake maintenance of books and records & no trading activities shall be done through, from or in the LMO.

 

APPLICATION REQUIREMENTS

1. Application for establishment of LMO for a Labuan Company shall be submitted through the Labuan trust companies via the COR@L system.

2. Application for establishment of LMO for a Labuan licensed entity shall be submitted by:

  • Labuan licensed entity.
  • Labuan insurance manager/Labuan underwriting manager; or
  • Labuan takaful manager/Labuan takaful underwriting manager.

3. Labuan companies must maintain an operational office in Labuan prior to establishment of the LMO outside of Labuan Island.

4. Labuan companies are required to submit the following details as part of the application:

  • Address, contact details of LMO including the officer in-charge
  • Organisation charts of the operational office in Labuan and the proposed LMO
  • Marketing plan for the proposed LMO including three (3) years financial projections reflecting the planned business expansion through the LMO.

 

APPLICATION FOR MARKETING OFFICE

JTC Kensington is a licensed trust company in Labuan and may assist you with –

  • application for Marketing Office
  • establishment and administration of your Labuan company

 

OPERATIONAL REQUIREMENTS

> Signboard - The signboard of the LMO shall contain the following information:

  • Full name of the Labuan company or Labuan licensed entity, clearly displayed and printed on a signboard affixed at the entrance of the LMO;
  • Incorporation, registration, or licence number, as applicable; and
  • The words: “Labuan company / licensed entity regulated by the Labuan Financial Services Authority”* [* Delete as appropriate.]

> Comply with relevant requirements of the local authorities

> Premise of the LMO should be sufficiently segregated and strictly be used for scope of activities permissible under the Guidelines

> Comply with relevant directive, guidelines and reporting requirements issued by Labuan FSA from time to time.

 

SUBMISSION REQUIREMENT

  • LMO shall notify the Labuan FSA within thirty (30) days of any changes to the address of the LMO or any change to its approved business plan
  • LMO must submit a yearly marketing office activity report and other statistical information in such manner and frequency as may be determined by Labuan FSA in relation to the activities of the LMO.

 

FEE PAYABLE

The annual fee imposed on each Labuan Marketing Office is payable when the application is approved by Labuan FSA and remains valid until 31 December of the year of approval. Subsequent annual fee is payable to Labuan FSA on or before 15 January of each calendar year.

Processing Fee (one-off )

  • USD500

Annual Fee

  • USD3,500 - for each Labuan Marketing Office

 

For more details, please contact us.