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Written by Ralph Girgla
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Saturday, 20 February 2010 16:10 |
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The Labuan Company
A company incorporated in Labuan has the same powers as a natural person. Language of Legislation and Corporate Documents are in English.
Names resembling the name of a company incorporated or registered under the Companies Act 1965 are not acceptable. Names that in the opinion of the Registrar suggest Royal or government patronage. Names, which the Registrar considers undesirable, will be rejected. Offshore companies are allowed to have names in a foreign language, provided they use the Latin alphabet. Suffixes to Denote Limited Liability are: Limited, Corp, BV, Pty and Ltd.
The standard authorised capital is US$10,000 divided in to 10,000 shares of US$1. The minimum issued capital is one share, which may be fully or partly paid.
Permitted are registered shares of par value, preference shares, redeemable shares and shares with no voting rights.
What will be done to found the company?
- Memorandum and Articles of Association,
- Consent form to act as a director,
- Statutory Declaration of Compliance with the Companies Act
- Certificate of Identity
- Statutory declaration by persons before appointments as directors
- and the requisite fee.
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Last Updated on Sunday, 25 April 2010 14:15 |
