I am very happy with the work done by PheasanTech. I would definitely recommend this to anyone. The finished product was exceptional, very professional and just what I wanted. It was really easy to share my views and feedback throughout the process. All the banners, design, even the content was great. At last, I got a dependable and capable partner for my web needs.
Get a Labuan Forex Broker License
PheasanTech offers you a complete package to set-up a system for a Labuan Forex Broker License. We will help you in each and every step of the way to ensure your business trust and high level of confidence during Labuan Forex Company Formation. Our complete package offers you all the mandatory requirements that are very much needed for a successful registration and renewal with the Labuan FSA and IBFC along with the required compliance with the regulatory authorities.
LIBFC (Labuan International Business and Financial Centre) is one of the regulatory bodies that are responsible for issuing, reviewing and regulating the FX companies licensed by these authorities. The LIBFC licenses are only issued to those financial companies which look forward to engage in Forex activity, but only if they meet certain criteria set by the regulator, including capital adequacy, proper tests and mandatory physical office in Labuan.
Money Broking license in Labuan can be obtained relatively quickly with an approximate time frame of 3 months and it weighs lesser on pockets. Documents processing and bank procedures are easy in Labuan and entitles it as a well-regulated jurisdiction.
From the Client
- Notarized passport copy (Should be notarized in English – 3 copies)
- Last 3 months utility bill (Should be notarized in English – 2 copies with original)
- Director/Shareholder’s Bank reference letter
- Reference letter from CA or CPA
- Lawyer’s reference letter
- The copy of educational degree certificate (Should be in English)
- Director/Shareholder’s CV
- Bank balance confirmation for a shareholder with 75% of shares – letter stating a minimum balance of not less than MYR 350000 (USD approx. 100000)
(Kindly note if two shareholders are there with 50/50 share holding, then each shareholder should provide the bank statement for the balance confirmation).
Related to the Process
- Application Form by LFSA
- Statutory Declarations
- Bank Application Forms
- AML (Anti Money Laundering) Procedures
- Business Plan
- 3 -years financial projection
- sheet with forecast description
Note: The ad-hoc additional documents maybe requested from any authority or institution during the process. After receipt of FSA Broker License, a copy of the agreement with platform and liquidity providers needs to be submitted to LFSA.
|Deposit||Required Amount (in $)|
|Minimum Initial Deposit||$ 75,000 (RM 3,00,000)|
A company should have a bank account in Labuan but don’t have to mandatorily maintain the minimum balance. Thus it can be increased or decreased depending upon the operational activities. The broking license issued by LFSA is quite different in many ways as it is the one and only license in Asia that authorize STP Business model and strictly abide the counterparty trade. The LFSA authorities offer the benefit like 3% tax rate or 20,000 MYR.
- Low corporate tax profit of 3% or maximum payment of RM 20,000
- Free of withholding tax on dividends and interest
- Tax free Director fee
- You can stay in Malaysia and operate business
- All the dealings must be done through a registered office in Labuan only
- Annual tax return must be filed with the Malaysian Director General of Inland Revenue before 31st March of the year of assessment and some extension time is allowed by Inland Revenue
- LIBFC issues STP Business licenses only. Market making business is not authorized.
- All transactions must be in foreign currencies except for defraying administrative and statutory expense purposes
- Dealing with Malaysian residents other than authorized dealers as specified under section 4 of the Malaysian Exchange Control Act 1953 is strictly prohibited
- Appointed auditor by the company must be from approved list of the LFSA auditors
HOW WE HELP
Our Process for Forex Company Formation
- Gather and prepare all the documents, including due diligence reports
- Prepare initial corporate documents and statutory declarations by the Director/Shareholder to the LFSA
- Preparation the AML procedures and custom tailored business plan
- Submission of the report and all corporate documents to the LFSA to start the process of application
- Account opening in a local Bank for satisfying minimum paid up capital requirements which include the preparation and submission of all the bank forms, corporate documents and due diligence documents. Visit of the Director/Shareholder to the Bank will be mandatory.
- Ad-hoc support and provision of minor documents required during the process
- To arrange a meeting with the Director/Shareholder with the LFSA
- To assist with transfer of funds at a Local Bank in order to satisfy capital requirement for the Money Broking License
- Receipt of license from the LFSA and delivery of documents to the client
Other Allied Services (Optional)
Our optional services include assistance with:
REQUEST A QUOTE
Let Us Help You Make Decision
You Will Receive Quote Within 24 Hrs
* We Respect Your Privacy
- Seven Star FX
Great work, they help me with the St. Vincent forex broker license process step by step, with continuous follow up & support from start to end process. I would really recommend them because they deliver on time in fact somewhat earlier than the time line given.Edwin