Labuan Fund Management License
Labuan Fund Management License
Labuan mutual fund as governed under Part III of the Labuan Financial Services and Securities Act 2010 (LFSSA).
About Labuan Fund Management License
Labuan Fund Management License s are those whose securities are offered for subscription to any member of the general public. Labuan Fund Management License s may commence business after being registered with the Labuan Financial Services Authority (Labuan FSA) with an approved prospectus of the Fund Management.
Labuan Fund Management Legal Requirements
The entity making the application is an Labuan company under Labuan Financial Services and Securities Act 2010 (LFSSA) Company includes:
|Director’s Requirements||The licensee will need at least 2 (two) natural person Fit and Proper Directors of any jurisdiction.|
The Fund Management will need at least one shareholder.
Corporate shareholding is allowed and 100% foreign ownership is permitted.
|Compliance Officer||The Licensee must establish and maintain an appropriate and effective compliance function within the firm which operates independently of all operational and business line functions and senior or supervisory management.|
No person shall carry on business as a custodian of a Fund Management unless it is a:
A fund administrator who is carrying on fund administration activities.
|Auditor||The Licensee, within one month after becoming licensed, The Authority may approve any person to be an approved auditor.|
- Annual obligations: Maintain such accounting records and financial statements available for examination by the Registrar or any person authorized under his hand at its principal place of business or registered office in Labuan;
- Notify Minister within a reasonable period of any of the following changes:
- Changes in any Key Functionary in the Fund.
- Change in the registered office address
- Change of its agent in Labuan
Change in name or address of-
- each director of the fund, if the fund is a company
- each trustee of the fund, if the fund is a trust
- Each general partner of the fund, if the fund is a limited partnership.
- Appointment, resignation or removal of a Director or officer
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The Valsen Advantage
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