Labuan Forex (FX) Money Broking License
Desfran provides a turnkey solution for financial licensing. To facilitate your process of applying for a Labuan Forex Money Broking license, we will:
- Promote your application to the Labuan regulators
- Assist with answering questions regarding the application process and requirements
- Draft and review application documents and questionnaires
- Follow up with the application and ensure the submission of additional information required by the related departments in Labuan
Labuan money broking business is intended to serve institutional investors and high-net-worth individuals. The licensee is allowed to:
Minimum paid up capital of MYR 500,000 (or equivalent) unimpaired by losses with a certificate of evidence from the banks within Malaysia and Labuan.
Required to maintain an operational office in Labuan. The operational office should be used for business purposes only and must be appropriately furnished with office equipment.
Desfran shall seek to understand your business activities and goals to assist with your business plan drafting that best encompasses this whilst still being compliant to the prevailing regulations. Desfran shall also advise on the possible questions that might be posed by the regulator.
Due Diligence is necessary to formally verify the identity of all clients of the firm. The following documents are required to conduct due diligence for the license application:
Please note for a company listed on a major stock exchange or subject to regulatory supervision in a country with equivalent AML regulations to Labuan, evidence of such listing or regulation will suffice in place of the above information. Where the directors to be appointed are employees of such a listed or regulated company, a certified passport copy and confirmation of employment (to include position) will suffice.
Labuan FSA is the statutory body responsible for the development and administration of the Labuan International Business and Financial Centre (Labuan IBFC).
The objectives of Labuan FSA include the following:
Labuan FSA’s key role is to license and regulate licensed entities operating within Labuan IBFC and to ensure all such entities remain in compliance with the internal and international best standards adopted by the jurisdiction. Labuan FSA also develops policies for the orderly conduct of business and financial services in Labuan IBFC.
Desfran assists with the complete licensing application. Contact us to find out more about the Labuan company registration and forex license application. Our team of experts will get back to within the next business day.