Labuan Federal Territory (Wilayah Persekutuan Labuan, referred to as Labuan) is a Federal Territory of Malaysia. It is located in the western part of Sabah and is an island in the South China Sea. The Labuan Island covers an area of approximately 92 square kilometers. The
Labuan Financial Services Agency of Malaysia LFSA was established in In 1996, it was Malaysia's offshore financial regulator. The Labuan International Business and Financial Center of Malaysia is located in a strategic geographical location in the heart of the Asia-Pacific region. It occupies a favorable advantage in one of the fast-growing regions in the world, and provides perfect opportunities for companies that want to strengthen their connections with Asian economies.
The currency brokerage license provided by the Malaysian Financial Services Authority LFSA is different from other licenses. This license is the only license issued to STP services in Asia (for details, please refer to Forex Brokers "A Country in Asia Blocks All Forex Broker Websites" ". The brokers who have obtained this license can only operate the order matching business, and are not allowed to become the counterparty of any order.
"LFSA's funding requirements and responsibilities are consistent with the license requirements of major regulatory agencies around the world for onshore companies. These strict principles and requirements will only attract truly powerful and formal brokers. The cost of operating a brokerage company in offshore Malaysia is only one third of that of other international regulatory regions. Compared to 2014 and 2015 The number of applications for currency brokerage licenses has tripled, mainly from the Asian region."
License application content:
1. According to the anti-money laundering regulations (AML)/know your customer (KYC) operating policy, conduct due diligence and review company operations and assist in editing business plans to ensure that the customer’s agreement on currency economic licenses is in line with Labuan Finance Service Authority (FSA requirement. Prepare to submit application documents and forms and act as the contact person for Labuan Financial Services Authority ("LFSA").
2. If there is a business plan that requires additional operating policies/manuals, the specific fee depends on In terms of the degree of change.
3. After 3 months of pre-approval, assist in completing the approval conditions, including contacting the banker and Labuan Financial Services Authority (LFSA) to obtain a license. Apply for payment system approval.
Must have:
- Companies and offices.
- Money permit. (FX license)
- Experience in currency business.
- Two directors.
- Our company can assist in leasing the local office and two employees.