Registration Guide For Labuan Foundation
Labuan Private Foundation is easy to register! Here is the insight on the registration guide of a Labuan Private Foundation. Labuan FSA approving processing often takes about 1 to 2 months, this is to ensure the Labuan Private Foundation vehicle will be used appropriately for personal wealth management and succession only.
Seven (7) simple steps to register the Labuan Private Foundation:
Step 1 – Send us an enquiry to specify your objective wanting to set up the Foundation. This will enable us to advise if the Foundation meet your needs
Step 2 – Once you decide to register, we need copies of passport (info page) of all office holders for due diligence checks. For Malaysians, we also require a copy of your Malaysian NRIC. Once the background checks is clear, we will guide you the Labuan Foundation registration form to complete
Step 3 – We will quote the fee in the Client Service Agreement for your payment
Step 4 – Upon receipt of payment and required documents, we will prepare all the necessary documents for your execution
Step 5 – Lodgement to Labuan FSA for registration for PIMCO Committee approval, often takes 30 to 45 days for approval
Step 6 – Certificate of Registration (Form 3) will be issued together with introduction kit
Step 7 – Introduction to Labuan Private foundation briefing and Bank account opening.
Note: Currently, Labuan Private Foundation registration with Labuan FSA may take slightly longer time, approval often within 1 to 2 months.
Decide on your key persons for your Labuan Private Foundation:
Founder : Besides you, anyone else?
Council Member: This is optional. To have control, you as founder should be one of the Council Member.
Officer: This person should be someone you trusted to help you on assets distribution acting as executor. Founder can be the Officer as long as his is not the Council Member.
Beneficiaries: Any individual or corporate of your choice
Secretary: CP Trust as appointed by you
Optional positions are: Supervisor, Custodians
Auditor: Optional for investment holding structure.
Financial Reporting and Tax Return:
For investment holding – 0% tax with annual submission of management account.
For trading activity, a choice of tax rate 3% with audited report or pay flat fee of RM20,000 with management account required.
Feel free to send us an enquiry to assist you in setting up the Labuan Private Foundation to meet your succession objectives today! We simply “simplify the complexities” of your investment in Labuan.