About Labuan Offshore Bank Opening Support and Management Service

Bona Trust Corporation will provide Labuan Offshore Bank Opening Support and Management Service.

Labuan Offshore Bank


1. Main features of Labuan corporate account

After Labuan incorporation, it is necessary to open a settlement account for corporations (If you do not have a corporate account, you cannot settle commercial transactions, so there is no point incorporate  the company).

When opening a corporate account, which bank should be selected should be considered, but before that, it is also important you use “onshore or offshore,” or “how to use both onshore and offshore”.

Since the needs are different for business settlement and investment settlement, we will give advice at the time of Labuan incorporation.

There are 3 main points when opening a corporate account:

· What kind of business is handled by this company, what kind of product is dealt with, who is purchasing products from which country to which countries?

· How is the annual turnover of this company, how often is payment from anywhere in the country, how often is the deposit amount per turn every month? Also, how often the company remit to anyone in what country every month, how much is remittance per turn?

· Who is the UBO (Ultimate Beneficial Owner) of this company? What is the structure of the directors and shareholders, and what kind of work experience do each person have?


2. About accounts can be opened and supported (partly)

We can support for opening corporate account as follows:-

Comparison with Banks
MALAYSIA ONSHORE BANK
BANK SBANK OBANK UBANK A
Initial DepositUSD 10,000USD 10,000USD 10,000USD 10,000
Physical PresentYESYESYESYES
Minimum Balance RequirementUSD 10,000USD 2,000No RequirementNo Requirement
Value AddedCorporate Debit CardCorporate ATM CardN/ACorporate Credit Card
Internet BankingYESYESYESYES
Documentation ResumeResumeResumeResume
LABUAN OFFSHORE BANK
BANK KBANK ABANK FBANK M
Initial DepositUSD 10,000USD 10,000USD 10,000USD 25,000
Physical PresentNONOYESYES
Minimum Balance RequirementUSD 10,000USD 10,000USD 10,000USD 25,000
Value AddedN/AN/AN/AN/A
Internet BankingYESNOYESNO
Documentation 1) Bank Reference Letter
2) Business Plan
3) Resume
1) Bank Reference Letter
2) Business Plan
3) Resume
1) Bank Reference Letter
2) Business Plan
3) Resume
1) Bank Reference Letter
2) Business Plan
3) Resume
Singapore Bank
BANK OBANK R
Initial DepositUSD 30,000USD 80,000
Physical PresentYESYES
Minimum Balance RequirementUSD 30,000USD 80,000
Value AddedCorporate Debit CardN/A
Internet BankingYESYES
Documentation1) Business Supporting Documents
2) Resume
3) Bank Questiionnaire
1) Resume
2) Bank Questionnaire

3. Corporate Bank Account Overview

For Labuan corporate account overview, kindly refer to “Corporate Bank Account Overview” for the difference between onshore bank and offshore bank.


4. Corporate Bank Account Opening

For details on how to proceed with specific procedures concerning Labuan corporate accounts opening, necessary documents, etc., kindly refer to “Corporate Bank Account Opening“.


5. About Labuan Company PayPal Account Authentication

For details on how to authenticate your PayPal account in the name of Labuan company, kindly refer to “About Labuan Company PayPal Account“.

Should you have any queries, please do not hesitate to contact us.


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