Labuan Money Broking License

Obtaining a Labuan Money Broking License is not difficult. As long as the applicant fulfils the application and operational requirements imposed by the Labuan Financial Services Authority (LFSA), get the appropriate management team/ directors in place and prepare a good business plan that covers all the specifications required by the authority, getting the Labuan Money Broking License approved is not a problem.

The required paid up capital for Labuan Money Broking Company is MYR500,000 or its equivalent in any currency and the annual license fee is USD1500.

Once the Labuan Money Broking License is conditional approved, the applicant will be given a time frame of 90 days (normally) to fulfil the operational requirements like renting an operational office, hiring the appropriate amount of staff, get the paid up capital transferred into the company bank account and purchase the relevant insurance cover etc. After fulfilling all the requirements listed in the conditional approval, a full approval letter will be issued and the Labuan Money Broking License will be granted.

The normal duration for approving a Labuan Money Broking License is 3-6 months.