Application for licence to carry on labuan trust company business


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APPLICATION FOR LICENCE TO CARRY ON LABUAN TRUST COMPANY BUSINESS



IMPORTANT NOTES





  1. The completed application form and supporting documents should be submitted to:

Director General

Labuan Financial Services Authority

Level 17, Main Office Tower

Financial Park Complex

Jalan Merdeka

87000 Labuan F.T.

Malaysia


  1. Applicant may also submit a soft copy of the completed application form and supporting documents via email to business_operations@labuanfsa.gov.my.




  1. The client charter for the processing of application is 30 working days upon complete submission of documentation and information to Labuan FSA.




  1. Submission of application which does not comply with Labuan FSA’s requirement or which are unsatisfactory may be returned.




  1. The form and supporting documents serves as general requirement of the application and Labuan FSA reserves the right to request for additional information and/or documents to support the application.




  1. Any information supplied pursuant to this form will be dealt with in confidence in accordance with Section 178 of the Labuan Financial Services and Securities Act 2010.




  1. Documents may be certified by any authorised person including, but not limited to, commissioner for oaths, notary public, certified public accountants, advocates or solicitors, company secretaries and Malaysian/foreign embassies. Where documents are not in the national language of Malaysia or in English, please provide English-translated version of the documents, duly certified/notarized.




  1. This document belongs to Labuan FSA, no modification or tampering with the format or its contents is permitted.




  1. Labuan FSA has a whistle blowing policy in place where suppliers, consultants or even members of the public can report to the Designated Officers in writing as per the Whistle Blowing Disclosure Form if there is any element of wrongdoings by any staff of Labuan FSA or its subsidiaries in relation to the application or licence being awarded.




  1. For details of applicable legislations and guidelines pertaining to trust company business please visit our website at www.lfsa.gov.my.





GENERAL INFORMATION

Important: All fields are mandatory and should not be left blank
1.

Party responsible for submission of application3




Applicant’s Shareholder/Head Office




Labuan Trust Company


Others ________________

(please specify)

2.

Officer responsible for submission of application
Name :________________________

Company :___________________________
Designation :_________________________

Contact No. :___________________________
Email :________________________
Signature :___________________________

3.

How do you know about Labuan IBFC



Website




Newspaper/Media



Previous Experience




Business Referral



Labuan Trust Company




Labuan IBFC Inc. Sdn. Bhd.4



Others _________________

(please specify)

4.
Consent for disclosure of information to be used for marketing/promotional purposes by Labuan FSA and Labuan IBFC Inc. Sdn. Bhd.



Yes




No

APPLICATION FOR LICENCE TO CARRY ON LABUAN TRUST COMPANY BUSINESS

Sections 61, 71 and 74, Labuan Financial Services and Securities Act 2010
PART I : PROFILE OF APPLICANT
Important: All fields are mandatory and should not be left blank
a.

Name of Applicant
(refers to the proposed Labuan company)

b.
Type of Licence Applied

(please (√) the appropriate box)

Please tick (√) the regulated activities to be undertaken:




Trust Company (please complete Form LTC and TL)




Managed Trust Company (please complete Form LTC and TL)




Private Trust Company (please complete Form LTC and PTL)

c.

Nature of Legal Entity

(please tick (√) the appropriate box)





Labuan Company - Subsidiary





Foreign Labuan Company - Branch

d.


Proposed Paid-up Capital/Working Fund

(please specify currency used)
e.

Proposed Shareholder(s)

(each of shareholder is required to complete Part II and/or Part III)

Name of Shareholder(s)

Country of Origin

Percentage of Shareholding(s)

f.


Proposed Directors and Trust Officers5

(each of director/ trust officer is required to complete Part VI and Part VII)

Name of Directors/
Trust Officers


Nationality

Position to be Held

PART II : PROFILE OF CORPORATE SHAREHOLDER(S)
Important: All fields are mandatory and should not be left blank

a.

Name of Company/ Head Office
b.

Company Address
c.
Nature and Type of Business
d.

Incorporation/ Registration Number
e.

Date and Place of Incorporation/

Registration
f.

Date, Type of Licence and Licence Number

(if applicable)
g.

Home Supervisory Authority
(if applicable)
h.

Shareholders’ Fund (please specify currency and amount for the latest three (3) years)

Year

Authorised Capital

Paid-up Capital

Retained Profit/(Loss)

i.

Financial Performance

(please specify currency and amount for the latest three (3) years)
Year

Total Assets

Total Liabilities

Profit/(Loss) Before Tax

j.

Shareholder(s)

Name of Shareholder(s)

Country of Origin

Percentage of Shareholding(s)

k.

Board of Director(s)

Name of Director(s)

Nationality

Nature of Appointment

(executive or non-executive)
l.

Any Other Information Relevant For Consideration of the Application
PART III : PROFILE OF INDIVIDUAL SHAREHOLDER(S)
Important: All fields are mandatory and should not be left blank

a.
Salutation

b.
Name
(as per NRIC/passport)

c.

Date and Place of Birth
d.

Gender




Male




Female
e.
Nationality


f.
NRIC Details

(for Malaysian)

Old IC No.:

NRIC No.:

g.

Passport Details

(for Non-Malaysian)

Passport No.:

Expiry Date:

Country of Issue:

Issuing Authority:

Length of residence in Malaysia:

Any work permit applied prior to this application:

No Yes (please provide certified true copy of the work permit)

h.

Financial Net worth

  1. Net Worth Statement by Qualified Accountant; or


Currency and

Amount

Total Assets


Total Liabilities


  1. Bank Statement



Name of Bank

Type of Account

Statement Date

Currency and Amount

i.

Curriculum Vitae of Individual Shareholder

Section A: Education(s)

Type of Qualification/ Certification

Name of College/University/Others

Year Qualification Obtained


Section B: Professional Qualification(s)

Type of Qualification/ Certification

Name of Institution

Year Qualification Obtained


Section C: Membership of Professional Body(s)

Type and Details of Membership

Name of Institution

Year Membership Obtained


Section D: Past and Current Work Experience(s)

Date

(dd/mm/yy)

Name of Employer

Designation

Key Areas of Responsibilities

From

To

Section E: Directorship Held in Other Company(s)

Name of Corporation

Place of Incorporation

Date of Appointment

(dd/mm/yy)

Nature of Appointment

(executive or non-executive)

Section F: Supporting Documents for Individual Shareholder(s)

(Please √ at the appropriate box and provide reason(s)/justification(s) for any non-submission)
No
Documents
To be completed by Applicant

For Labuan FSA use

1.

Certified true copy of NRIC (Malaysian) or passport (non-Malaysian)

2.
Certified true copy of relevant academic and professional certificates

3.
Two (2) referral letters from institutions and/or professional bodies

4.
Net worth statement by qualified accountant or certified true copy of bank statements indicating the latest amount of funds available


PART IV: PROFILE OF DIRECTOR/TRUST OFFICER

Important: All fields are mandatory and should not be left blank
a.

Position to be Held


b.
Salutation

c.
Name
(as per NRIC/passport)

d.
Date and Place of Birth


e.
Gender




Male




Female
f.
Nationality

g.
NRIC Details

(for Malaysian)

Old IC No.:

NRIC No.:

h.

Passport Details

(for Non-Malaysian)

Passport No.:

Expiry Date:

Country of Issue:

Issuing Authority:

Length of residence in Malaysia:

Any work permit applied prior to this application:




No




Yes (please provide certified true copy of the work permit)
i.

Curriculum Vitae of Director/Trust Officer

Section A: Education(s)

Type of Qualification/ Certification

Name of College/University/Others

Year Qualification Obtained

Section B: Professional Qualification(s)

Type of Qualification/ Certification

Name of Institution

Year Qualification Obtained

Section C: Membership of Professional Body(s)

Type and Details of Membership

Name of Institution

Year Membership Obtained

Section D: Past and Current Work Experience(s)

Date

(dd/mm/yy)

Name of Employer6

Designation

Key Areas of Responsibilities

From

To

Section E: Directorship Held in Other Company(s)

Name of Corporation

Place of Incorporation

Date of Appointment

(dd/mm/yy)

Nature of Appointment

(executive or non-executive)

Section F: Supporting Documents for Appointment of Director/Trust Officer

(Please √ at the appropriate box and provide reason(s)/justification(s) for any non-submission)
No
Documents
To be completed by Applicant

For Labuan FSA use

1.

Certified true copy of NRIC (Malaysian) or passport (non-Malaysian)

2.

Certified true copy of relevant academic and professional certificates

3.
Two (2) referral letters from institutions and/or professional bodies

(not applicable for appointment within the group of companies)

PART V: STATUTORY DECLARATION BY DIRECTOR/TRUST OFFICER
ON FIT AND PROPER PERSON


Important: All fields are mandatory and should not be left blank

I, ……………………………………………..NRIC/Passport No:……………………………….., a proposed director/trust officer of…………………………………………………..(name of the Labuan company), do hereby solemnly and sincerely declare that:


  1. I have read Section 4 of the Labuan Financial Services and Securities Act 2010 (LFSSA) and the Guidelines on Fit and Proper Person issued on 23 March 2010 (the Guidelines).



  1. to the best of my knowledge and belief in making this declaration and/or submitting the attached documents in relation to this declaration, that I am a fit and proper person based on the criteria stated under the said Section 4 of LFSSA and the Guidelines.




  1. the information given in this declaration and in the attached documents (if any) are accurate, true and complete.




  1. I understand that if it is found that I have made false declaration herein and/or in the attached document (if any), Labuan FSA is entitled to take any legal action including disqualifying myself from acting in the capacity expressly mentioned herein.


And I make this solemn declaration conscientiously believing the same to be true and by virtue of the provisions of the Statutory Declaration Act 1960.



Subscribed and solemnly declared by the above named …………………….




At ……………………………….

……………………………….

In the State of ……………………..

Signature

This …day of …. 20..






Before me,

…………………………..

(Commissioner for Oaths/Notary Public)


PART VI: DECLARATION OF TRUE AND CORRECT INFORMATION SUBMITTED

Important: All fields are mandatory and should not be left blank


I……………………………………………………...NRIC/Passport No:……………...........................................

the…………..…………………….………(position in the applicant’s shareholder/head office) of……………………….....................................................................................................(name of the applicant’s shareholder/head office), do hereby solemnly and sincerely declare that:

  1. all information submitted in this application including all attachments, forms, documents and forwarding letters are:

    1. submitted pursuant to the provisions of Section 61(1) of the Labuan Financial Services and Securities Act 2010 (LFSSA).

    2. accurate, true and correct and that all estimations provided are fair and reasonable.

  2. I am aware that if I make any misrepresentation herein this application, it is an offence punishable pursuant to Section 192 of the LFSSA.

  3. a printed signed copy of this application which reflects the same information provided in this application is being kept at the office of my principal or our appointed Labuan trust company being the agent approved by Labuan FSA.


And I make this solemn declaration conscientiously believing the same to be true and by virtue of the provisions of the Statutory Declaration Act 1960.



Subscribed and solemnly declared by the above named ……………………..................




At ………………………………...........

……………………………….

In the State of …………………….......

Signature

This …....day of …................... 20......





Before me,

…………………………..

(Commissioner for Oaths/Notary Public)


APPLICATION FOR LICENCE TO CARRY ON LABUAN TRUST COMPANY/MANAGED TRUST COMPANY BUSINESS

PARTICULARS OF THE APPLICATION

Important: All fields are mandatory and should not be left blank

Section A: Business Plan

a.


Objectives of Establishment





b.



Type of Products/ Services



c.

Target Market



d.

Target Industry/Sector



e.

Territorial Scope


f.

Management team



g.


Proposed Address of Management Office /Marketing Office




h.


Business Operational and Strategic Plan





i.

Risk Management and Internal Controls




j.

Marketing Strategy




k.

Manpower Planning




l.



Proposed Trust Manager

(only applicable to Managed Trust Company)




m.



External Auditor, Internal Auditor and Compliance Officer




PARTICULARS OF THE APPLICATION

Important: All fields are mandatory and should not be left blank

Section A: Business Plan

n.


Financial Year End, Currency and Accounting Standards for Financial Statements




Section B: Three Years Financial Projection




Year 1

Year 2

Year 3

Projected Number of Companies Incorporated










Statement of Comprehensive Income

Currency:

Year 1

Year 2

Year 3












Statement of Financial Position

Currency:

Year 1

Year 2

Year 3












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