\n\n\t

A Labuan Insurance Manager is a licensed professional entrusted to provide managerial or administrative services related to a Labuan insurance business to Labuan (re)insurers and brokers, but does not encompass the functions performed by a Labuan underwriting manager.<\/p>\n

In Labuan’s regulatory context, the collective term for Labuan Insurance Manager and Labuan Underwriting Manager is simply referred to as “Labuan Managers”. These professionals offer backroom services, including in-house expertise tailored to meet the different requirements of Labuan (re)insurers and captives. Their services go beyond mere administrative tasks, contributing significantly to the operational efficiency and regulatory compliance of entities within the Labuan insurance landscape.<\/p>\n

\n\tSee Also\n\t<\/h4>\n\t\n\t\t\t\t\tComparison of Labuan with Other Jurisdictions\n\t<\/a>\n\t\n\t\t\t\t\tFAQs on Labuan Insurance Licenses\n\t<\/a>\n

\n\t\tWhy Choose Labuan\n\t<\/h2>\n\t

Strategic location to tap into the Asia Pacific market<\/p>\n\t

Shared time zone with major Asian cities for seamless interaction<\/p>\n\t

Excellent infrastructure and regulations within the Labuan IBFC<\/p>\n\t

OECD whitelist jurisdiction status<\/p>\n\t

Recognised by prominent exchanges for entity listing (such as Hong Kong, Singapore, Malaysia, Australia, and Dubai Exchanges)<\/p>\n\t

100% foreign ownership with a minimum requirement of 1 shareholder and 2 directors<\/p>\n\t

Low corporate tax rate of 3%<\/p>\n\t

Absence of withholding tax, stamp duty, GST, import duty, sales or service tax, capital gains tax, inheritance tax<\/p>\n\t

Void of tax on dividends to shareholders<\/p>\n\t

Void of tax on director fees for foreign directors<\/p>\n

\n\t\tLicensing & Operational Requirements of a Labuan Insurance Manager\n\t<\/h2>\n\t\t\tOperational Requirements\t\t\n\t\t\t\t

• Insurer must be a member of the Labuan International Insurance Association.<\/li>
• Maintain a minimum paid-up capital or working funds of MYR 300,000 or its equivalent in any foreign currency.<\/li>
• Establish an operational office in Labuan with a minimum number of 4 full-time employees and a minimum annual operating expenditure of MYR 100,000. Alternatively, appoint a licensed Labuan insurance manager to fulfill operational requirements.<\/li>
• May set up a marketing office or co-located office anywhere in Malaysia.<\/li>
• Must provide a letter of guarantee or undertaking from the parent company to Labuan FSA (if applicable).<\/li>
• Appoint a person in control, director or principal officer (PO) who must obtain prior approval from Labuan FSA. However, a Labuan insurance manager established as a branch is not required to obtain approval on the appointment of their directors.<\/li>
• Ensure that the person in control, director and PO must be fit and proper and shall not be subject to any adverse report from any reliable sources.<\/li>
• Appoint an approved Labuan auditor to carry out an annual audit which must be submitted within 6 months after the closure of each financial year.<\/li>
• Comply with annual corporate tax filing to Labuan Inland Revenue Board and Labuan FSA.<\/li><\/ul>\t\t\t\n\t\t\tFA Advisory offers one-stop application solutions for your Labuan Insurance Manager Company, encompassing:\n\t\t
  • Consultation on eligibility and procedural guidance tailored to your profile.<\/li>
  • Profiling, due diligence and guidance on documentation preparation.<\/li>
  • Preparation of Business Plan, Financial Forecast and Operation Manuals.<\/li>
  • Submission and supervision of the application process until approval.<\/li>
  • Acting as your liaison and contact point with LFSA, arranging for interviews (if any).<\/li>
  • Tracking the license approval and handling all queries from LFSA.<\/li>
  • Advisory services on the appropriate company structure post-approval.<\/li>
  • Assistance in setting up onshore and offshore bank accounts.<\/li>
  • Assistance in establishing operational and marketing or co-located offices.<\/li>
  • Staff provision and office space rental.<\/li>
  • Internal audit and compliance advisory.<\/li><\/ul>\n\t

    About FA Advisory<\/strong><\/h2>\n

    Comprising a team of seasoned professionals well-versed in Labuan’s business landscape, FA Advisory Limited extends a comprehensive suite of services covering corporate services, private wealth management, and licensing compliance administration, all tailored to meet the unique needs of our clients.<\/p>\n

    At FA Advisory Limited, our expertise lies in delivering Labuan insights that facilitate business expansion, simplifying intricate processes, and offering valuable information to guide you through various facets of your journey.<\/p>\n

    Choose FA Advisory as your trusted partner in navigating the dynamic business landscape of Asia. With our commitment, we are your gateway to success in Labuan and beyond.<\/p>\n

    Email:\u00a0advisory@finarkasia.com<\/a> | Phone number: +6010-931 6678<\/strong><\/p>\n\t\n\t\t\t\t\t