This is Bona Trust support team. Thank you for your continued support, we Bona Trust would like to thank you all for your warmly support.
As the title mentioned above, we will launch a support service for Company Management Business License acquisition from today.
Company management business provides treasury processing services and such other services as maybe permitted by Labuan Financial Services Authority (Labuan FSA).
In line with Shariah related services, the company management can also provide Islamic advisory services and backroom processing functions. Labuan company management that provides Islamic company management services must engage a Shariah Advisory Panel to advise on its operations.
Kindly refer to the link below for details, Thank you. Support team
* From the viewpoint of maintenance costs, this service is intended for client companies with pre-tax profit of approximately USD 500,000 / year or more as the main customer target.
Based on the latest P.U.A (375) dated 24 December, 2020 on Labuan Business Activity Tax (Requirements for Labuan Business Activity) Regulations 2018 (Amendment) Regulations 2020 (“the Amendment Regulations”), other trading activities under Code 23 of List of Codes and Types of Business Activity are not listed as part of the Amendment Regulations.
As such, Labuan Entity carrying other trading activities will not be deemed as Labuan Business Activity and will be subjected to tax under Income Tax Act 1967 (ITA) for year of assessment 2021 irrespective whether they comply with the Economic Substance Requirements or not.
However, the Association of Labuan Trust Companies together with the Labuan Corporation, the municipal government have sent an appeal to Ministry of Finance (“MoF”) to re-instate the business of general trading, provision of services and other non-listed activities to be taxed under Labuan Business Activity Tax Act 1990 (LBATA).
As of now, we are yet to receive any updates on the appeal submitted to MoF therefore, a Labuan Entity conducting other trading activities are not listed in the Amendment Regulations will remain status quo at this present moment. We will continue to update you when information becomes available.
While waiting on the appeal status, please do not hesitate to contact us if you wish to explore other alternative solutions; or if your Labuan Entity is carrying out any of the 22 types of business activity listed under the Amendment Regulations and you require assistance or guidance to meet the requirements.
Best Regards, Support Team
* P.U.A is gazetted order. PU order is a piece of subsidiary legislation that has passed through parliament and has the force of law. PU stands for “Pemberitahu Undangan” or “Legal Notification”.
Our New Year’s holiday schedule 2020/2021 are as follows:-
Dec. 26, 2020
Dec. 27, 2020
Dec. 28, 2020
Dec. 29, 2020
Dec. 30, 2020
Dec. 31, 2020
Jan. 1, 2021
Jan. 2, 2021
Jan. 3, 2021
Jan. 4, 2021
Jan. 5, 2021
[Requests from existing clients]
For clients who have already used our service and have received payment confirmation, we will respond until the last business day of the year 2019. December 30 (Wednesday) is the last business day for banking and administrative relations, and the beginning of the year 2021 is informed that it will start business from January 4 (Monday).
[Requests from new clients]
Inquiries from new clients will be handled sequentially, but in order to respond to existing customers with priority, it may take some time to reply.
In addition, the case that needs to be processed by the end of this year 2020 was held on Dec. 15 (Tuesday), and new applications were suspended. You can consult with us and accept new requests, but kindly note that in principle it will be handled after next year 2021.
For clients who contact us via the inquiry form on the website during the year-end and New Year holidays, we will respond to you as soon as the new year’s business resumes.
December is already entered in mid-term, and this year is about to end. This year 2020 was a year with so many accidents and events due to the influence of the coronavirus (COVID-19) that has involved the world since the New Year.
Thank you for your understanding and continued warm support in 2021.
∟ 2-1. Certificate of Education Must be the original English certificate from the school seal stamped on it. The embassy will certify.
∟ 2-2. Family register original copy (For Dependent Pass) The English translation of the family register must be the original and the English-translated documents requested by ITMB. The embassy will certify.
3. The passport-sized ID photo used for the visa sticker must have a blue background (currently, white background photos are not available).
Previously, visa stickers were only valid for photos with a white background, but now only those with a blue background are valid.
If you do not meet the above document requirements, you will not be able to renew or obtain work permit, so kindly prepare in advance before you visit Labuan.
Then, release quarantine measures (The staff will go to the hotel to collect the PCR application documents, so kindly hand over them. After that, the Ministry of Health permits the exemption of Quarantine, then you can go out)
✖ If Positive
If subjective symptom, then to hospital If no subjective symptom, then to 2 weeks quarantine
【Original (Bahasa Melayu)】
Those who have been judged as negative will be released from the obligation to quarantine and will be able to obtain or renew your Labuan Work Permit. However, once you return to Kuala Lumpur (or West Malaysia), you will be subject to 2 weeks quarantine obligation again.
*If you violate it, you will be subject to a fine of RM1,000 or a lawsuit, so kndly be careful in your actions.
The Malaysian Immigration Bureau has announced some procedures for restarting some services after May 4, overstay before and after the Movement Control Order (MCO), and procedures for expiring residence permit (announced on May 2 * last updated on May 6).
The main points are as follows: –
1. Overstay between January 1, 2020 and 14 business days after the end of the MCO:
-> If you have return flight ticket to your home country, you will not need to be listed on the blacklist or charged a fine, and you will need to extend your stay for a special pass. You can leave Malaysia without applying for a pass to apply if it occurs. If you do not leave within 14 business days after the end of the MCO, you need to consult with the embassy of your country concerned and obtain documents proving the justification for not being able to leave the country. If that is not possible, legal action will be taken and blacklisted.
2. If the residence permit (pass) expires after February 1, 2020:
-> You can apply for a residence permit at each immigration office within 30 days after the end of the MCO period.
* Kindly Note : If you are currently stay in Malaysia and your Work Permit or Dependent Pass has expired during the MCO period, please visit Labuan Immigration Bureau within 30 days counted after MCO to apply for your Visa.
Currently, all flights between Kuala Lumpur and Labuan are out of service. It is expected to resume in mid-May, but if you cannot visit Labuan within 30 days for this physical reason, Bona Trust Corporation will issue a letter stating the reason and proceed with the procedure.
As we all know, the Federal Malaysia has been lockdown on March 18 at AM0:00 and Movement Restriction Order (MCO) has been enforced.
The MCO was expected to end by April 14, however the deadline was extended by another 2 weeks, and the regulation will be applied until April 28.
Now, there are a few clients whose work permit have expired in the MCO, and we investigated the measures.
At this time, there is no instruction from the Labuan Immigration Department regarding practical procedures, but the Malaysian Immigration Department’s view is as follows.
“In view of current situation, all foreigners in Malaysia whose pass has expired During this period only may leave malaysia without any special pass provided they possess a valid passport.“
The following are Frequently asked questions and answers from Malaysian Immigration Bureau officially, kindly refer to it: –
Kindly Note: The following contents are information for expatriates. If you have any questions regarding Labuan Work Permit or Dependent Pass, please contact your Company Secretary Service Provider (Labuan trust company).
All applicable clients will be dealt with case by case in consultation with Labuan Immigration Department.
Other important notices for Lockdown against COVID-19
In Malaysia, the MCO (Movement Control Order) has been implemented for 2 weeks from March 18 to March 31, with restrictions imposed on land closures (Lockdown) and going out restrictions.
Today, 2 weeks MCO has been extended, and the border has been closed until April 28.
Kindly note the following: –
・ For those who is planning to travel to Malaysia: Please change the schedule after April 14. Currently, the border has been locked down and entry is prohibited.
・ For those who is staying in Malaysia: Please do not go out until April 14. If you need to obtain or renew your Work Permit or Dependent Pass, please change the schedule after April 15 and contact us.
As we all know, the Federal Malaysia has been lockdown on March 18 at AM0:00 and Movement Restriction Order has been enforced.
Also, residents in all federal territories are required to stay at home for 2 weeks in principle.
(Mid Valley Mega Mall has become like a ghost town – one of the largest shopping malls in Asia, March 20 at 20:30)
However, some people in Malaysia are not fully compliant with movement restrictions.
Under such circumstances, Abdul Hamid Bador, Malaysian Inspector General of Police (IGP), announced that only about 60% of Malaysians comply with this restrictions.
As a countermeasure above, the government has deployed more than 8,600 policemen and 504 obstacles nationwide to ensure compliance with movement restrictions.
More personnel will be deployed during the movement Control period through March 31.
The Malaysian government will start deploying the army to help enforce the Restriction of Movement Order on Sunday, March 22.
Malaysia will deploy the Army to support police in enforcing tough restrictions to halt the spread of the COVID-19, Defence Minister Ismail Sabri Yaakob said on Friday.
The country reported 130 new cases on Friday, taking its toll to 1,030, the highest standard for any Southeast Asian country.
If the situation worsens, the police force would put a heavier emphasis and start detaining people who are not adhering to the Restriction of Movement Order.
Currently, if citizens are found to not adhere to the Restriction of Movement Order, they can be “jailed for up to 6 months“, fined “RM1,000 (US$226)“, or both.
Police have already found a Malaysian man in his 30s attending a mosque rally. He has been arrested for violated Movement Control Order. The man is arrested under Section 186 of the Penal Code for obstructing a public servant in discharge of his public functions, which carries a maximum 2 years’ jail or a fine up to RM10,000 or both upon conviction.
Although defined as “citizens” in government announcement, we also warn our clients to refrain from going unnecessarily and urgently because foreigner may also be eligible.
* Currently in lockdown situation in Malaysia, but 55 Malaysians in Iran and 94 in Italy will be flown home on special mission flights (Government chartered flight) on March 22 and 23 at Kuala Lumpur International Airport respectively. We must strive to prevent the spread of infections within the territory by strictly not going out from home.