Labuan Financial Services and Securities Act 2010 · Updated to 15 Oct 2022 · Part I
5. Business in, from or through Labuan
Feedback & supportA person licensed to carry on any of the activities under this Act shall carry on such activities only in, from or through
person
“person” includes a corporation, partnership, a body of persons, corporate or unincorporated and a corporation sole;
Labuan except that a licensed entity may carry on such business in Malaysia outside Labuan as may be permitted by the Authority from time to time:
Provided that nothing in this section permits a licensed entity from carrying on any regulated activities under the Capital Markets and Services Act 2007 [Act 671], where such regulated activities are carried on in Malaysia other than Labuan.
licensed entity
“licensed entity” means a person licensed or registered to carry on any activity under any Part;
Notwithstanding subsection (1), a mutual fund, a fund manager and a fund administrator established, licensed or registered, as the case may be, under Part III shall be deemed to be carrying on business in Labuan notwithstanding that the business is carried on wholly outside Labuan or outside Labuan from a place of business or registered office within Labuan and the expression
mutual fund
“mutual fund” or “fund” means a Labuan company, a corporation incorporated under the laws of any recognized country or jurisdiction, a partnership, a protected cell company, a foundation, or a unit trust which— (a) collects and pools funds for the purpose of collective investment with the aim of spreading investment risk; and (b) issues interests in a mutual fund which entitles the holder to redeem his investments that is agreed upon by the parties and receive an amount computed by reference to the value of a proportionate interest in the whole or part of the net assets of the aforesaid types of entities, as the case may be, and includes an umbrella fund whose interests in a mutual fund or units are split into a number of different class funds or sub-funds and whose participants are entitled to exchange rights in one part for rights in another;
“carrying on business from Labuan” includes carrying on business outside Labuan from a place of business or a registered office within Labuan.
office
“office” includes the principal place of business, a branch, an agency, a mobile place of business, a place of business set up and maintained for a limited period only, an electronic terminal and any other place of business;