Labuan Company Formation Documents - Accolade Group

Features of Samoa Company:

01.

It may use "(L)" as part of its name. An offshore company may also have as part of its name the word "Berhad" or "Bhd" but must then add the word "(L)".

02.

There are no minimum share capital requirements. The share capital may be denominated in any currency except Malaysian Ringgit. Separate classes of shares may be created with differing rights to dividends or otherwise. A minimum of one shareholder is required to establish a company. Shareholder can be individuals or corporations. Shareholders need not be resident.

03.

Companies require a minimum of one director which may be natural persons or a corporation. Directors need not be resident although a resident Director is recommended to ensure the tax residency of the offshore company.

04.

There must be a secretary who is an officer or a corporation of a Labuan Trust Company.

05.

Every company must have a registered office in Labuan which is the office of a Labuan Trust Company where all statutory books of the company must be kept.

06.

The Directors of an offshore company may convene meetings of members in such manner and at such time and places within or outside Labuan as the Directors consider necessary or desirable.

07.

In general, audit is optional (however, see Taxation below). However, proper accounts must be maintained as will sufficiently explain the transaction undertaken and the financial position of the company.

08.

An annual return in the prescribed form made up to a date not earlier than 14 days before the date of lodgment is required to be lodged each year and not later than 30 days prior to the anniversary of the date of incorporation of the company.