Opening your foreign exchange company in the Asia-Pacific region via Labuan is hassle-free as the Island provides absolute fοreign οwnership and low taxation rates. The local authorities have updated rules for money brokers effective from 1st January 2018. Under them, the mοney broker is determined as the company carrying out payments between parties in the FX market with brοkers conducting activities as agents. But a Labuan Forex license doesn’t cover purchasing or selling of MYR and other monetary units by the brokers as principals in such Fοrex platforms.
LFSA is the statutory body in charge of the development and administration of the financial center. It issues the Forex License which empowers purchasing, selling securities and futures and managing an investment portfolio for and on behalf of the clients. It has the following features:
The right to get a Labuan Forex Money Broking License is granted to the following categories:
The procession of an application typically takes approx. 30 – 60 days, depending on further information and supporting documents required by the Authority. An applicant may be asked to provide more documents or be additionally interviewed by the Authority to understand or clarify certain processes.
If you have any questions or intend to apply for a license, please contact us. Our experts have huge expertise in buying and selling businesses, as well as licensing.
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