About Labuan Company PayPal Account Authentication
We will explain how to use PayPal Malaysia to those who start business activities in Malaysia using a Labuan PayPal account.
In particular, since it is expected that PayPal accounts will be required for those involved in IT-related businesses, we will provide information on how to authenticate PayPal Malaysia under the name of Labuan company.
Labuan company authentication does not pass from the application screen
First of all, “PayPal Malaysia” registration itself can be done very easily, but in order to continue using your PayPal account, you will need to submit an official document with (1) company name, (2) registered address, and (3) issuance date.
However, unlike the Malaysian company, Labuan company documents cannot be successfully authenticated using the PayPal Malaysia manual.
Certainly, there is a page for uploading various authentication documents on the application screen, but even if you try to upload from there, approval will not be accepted for reasons of document deficiency.
Kindly note that even if you notify email support that you register Labuan company, you will not be able to proceed with the process simply by repeating mechanical responses.
Explanation from PayPal Malaysia
The explanation from PayPal Malaysia is as follows:-
“Proof of business address. This can be a bank statement, utility bill, insurance statement or any document issued by official organization that states your business name, your business address and the issue date of the document. Please note that issue date must be within 6 months time.“
Therefore, it is explained that all the following documents are required.
・Form 9 (* Not applicable to Labuan company documents)
・Form 49 (* Not applicable to Labuan company documents)
・Memorandum/Article of Association
・Certificate of Incorporation or equivalent
Unfortunately, because the above documents are related to Malaysian companies, Labuan companies do not have such documents.
How to pass the Authentication of Labuan Company
|How to pass the Authentication of Labuan Company|
|◇ Call the support desk||Kindly call the support desk.|
|◇ Obtain a dedicated email address||A dedicated email address will be issued by the person in charge.|
|◇ Send necessary documents by email||Kindly send the following 5 types of documents by email.|
|◇ Completion of authentication procedure||The authentication procedure is complete.|
In order to complete the authentication process under Labuan company name, kindly call the support desk and inform operator that you register Labuan company not Malaysian Company. Then you will be given a dedicated email address for sending the document file. If you send an e-mail with the following five types of documents to the e-mail address, the authentication procedure will be completed successfully.
|List of the necessary books for authentication|
|・Form 7 (Certificate of Incorporation)|
|・Form 13 (Allotment of Shares)|
|・Form 23 (Registered Office Address)|
|・Form 25 (Particulars of Directors and Secretaries)|
|・M & A (Memorandum/Article of Association)|
Kindly note that after registering PayPal Malaysia, the following restrictions apply for receipt before authentication.
・Sales prior to activation as an authenticated account can be withdrawn after the 20 days suspend period has elapsed.
・After submitting the required documents, if you are authenticated as a business account, even after being certified as a business account, sales before certification will be suspended for 20 days from the date of sale.
・If the amount of fund accumulated in the suspend reaches a certain level before the business account is authenticated, sales will be bounced (the standard for a certain amount cannot be determined by us).
For above these reasons, for those who are considering using PayPal Malaysia for business purposes in the name of Labuan Company, in order to avoid suspend regulations, we will complete the required document authentication procedure immediately after opening the PayPal account and receive funds It is recommended that you perform after the authentication is completed.
Please feel free to contact us to obtain the necessary documents as soon as you send an e-mail to our staff.