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Restrictions apply to Labuan Offshore Company

Update Date:2016-1-6 9:27:44 Source:Tannet (Malaysia) Sdn Bhd Views:555

Malaysia Hotline: +603- 2141 8908


- An offshore company (OC) may only conduct business in, from or through Labuan. An OC is not permitted to conduct business with a resident of Malaysia, except where permitted by the Offshore Banking Act 1990;

- An OC is not permitted to engage in the business of Banking, Insurance or similar activities unless it is licensed under the Offshore Banking Act 1990 or the Offshore Insurance Act 1990;

- An OC is not permitted to conduct business in Malaysian currency except for the purpose of defraying its administrative and statutory expenses;

- An OC is not permitted to engage in the business of shipping or gas/oil operations in Malaysia;

- An OC is not permitted to operate as a trust company.


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