As a licensed Labuan money broker you can: 

• act as mediators to bring together and match clients with their counterparties in money or foreign exchange markets;
• facilitate transactions and receive payment for their services in the form of brokerage or commission fees;
• provide digital platforms for trading of currencies.

A licensee must act as a mediator, not a principal. A principal "deals for their own account and takes on the risk." The guidelines prohibit the Labuan money broker from taking positions.

Yes, there are no nationality or residency restrictions in that regard. 

Yes, visiting Labuan is a part of the application process. Applicants are required to visit the Labuan FSA for an interview during the licensing process. 

• KYC documents preparation by the client
• Review of the documents by our team
• Payment of a first installment 
• Company incorporation (less than 1 week)
• Documents and forms preparation and review
• Payment of a second installment 
• Licence application 
• Review of the application for completeness by the Regulator
• Processing and feedback on deficiencies
• Request of additional information by the Regulator if necessary
• Approval or denial of the license 
• Reporting the licensed entity registration

The annual license fee must be paid. Companies must submit audited financial statements and an annual return to the Labuan Financial Services Authority by the end of each financial year. 

The rate of tax imposed is 3% of audited net profits.

Ensure your paid-up capital remains intact and meets the minimum requirement of RM500,000 or its equivalent in a foreign currency. The Labuan FSA may also choose to require additional capital to match the business operations of Labuan money brokers, considering the risk level and the type, size, complexity and variety of their business activities. It worth highlighting the the paid up capital unimpaired by losses shall be kept in the bank at all times. 

The licensing process usually takes around 6 months if all the documents are in order. Application timeframe will depend on the complexity of ownership structure, commercial proposition, and cooperation of the related parties since the application process runs in close collaboration with an applicant.

A company must have at least one shareholder, who can be an individual, or a legal entity. At least 2 directors must be appointed. 

Physical presence is required. It means that the Licensed Labuan money broker must maintain a registered office in Labuan. All dealings must be done through this registered office in Labuan. Also, it is mandatory to appoint at least 2 local employees and have a local phone number. Moreover, it required by law for a company holding Money Broking license to spend a minimum amount of MYR 100,000 on its annual operational expenses in Labuan (i.e. local staff salary, annual audit, etc.).

Details of beneficiaries, shareholders of a Labuan company are not publicly disclosed. However, details about directors are part of public record. 

Some of the advantages of Labuan jurisdiction include low tax rates, a stable political environment, and a well-regulated financial system. Additionally, Labuan is an attractive location for businesses due to its strategic location in Southeast Asia and its proximity to major markets such as China and India.

Moreover, Labuan is on the Organisation for Economic Cooperation and Development (OECD) ‘white list’ which indicates that the country is committed to transparency and cooperation in tax matters. Countries that are on the OECD whitelist are generally considered to be reputable and trustworthy.