Does anybody have experience with setting up an offshore company and bank account in Labuan (Malaysia)


Hi there,
We are a husband and wife who travel a lot and have a small company set up in Fiji. We offer services to clients all over the world, but the Fijian banking system isn’t very accommodating for a digital based business with a lot of overseas expenses.

To make our life easier we are planning to set up an offshore company and bank account in Labuan.
We have a Fijian, Belgium and Uk passport but have residency in Fiji.

Does anybody have experience with a situation like this? and any advice how to go about setting up an offshore company and bank account ideally in Labuan (or Singapore)?

1 Like
What's the best place to incorporate an online business?

Banks are not much better here in Malaysia. And Labuan needs minimum capital now if you want work permits. So not as good a deal as it used to.

If you still want referrals, better PM me instead of discussing in public.


I am working on the same thing (offshore company in Labuan with bank and PayPal accounts).
It seems one has to involve a local service provider (called …trust…) to set up a company there. Later a local secretary and a registered office is needed. I could not decide for any of the providers yet. I am still waiting for replies coming in this week (after the holiday).
It seems set-up service costs from US$ 2700. It take 2-3 working days till the bank account can be set up (assistance to do so included in those service costs). 1st year secretary and registered office are included too and cost $2400 from the 2nd year. Auditing is required to pay 3% tax on the the profit. Auditing is not required if the company opts for paying 20ooo MYR flat (around US$5000)
What are your findings, @nomadsanddrifters?


@manu: the international banks (like HSBC) should be OK, I guess. No?


Surprise, I just received this from a friend: “no physical presence is require to open an (offshore company) account with Fidelity Asia Bank”