Labuan Private Fund

Labuan mutual fund as governed under Part III of the Labuan Financial Services and Securities Act 2010 (LFSSA).

About Labuan Private Fund

Labuan private funds are mutual funds whose securities are not offered to the general public and are owned or held by:

  • Not more than 50 investors where the first time investment of each of such investors is not less than RM250,000 equivalent in any foreign currency; or
  • Any number of investors where the first time investment of each such investors is not less than RM 500,000 equivalent in any foreign currency.

Labuan Private Fund Legal Requirements



Element Requirement(s)
Entity Requirements The entity making the application is an Labuan company under Labuan Financial Services and Securities Act 2010 (LFSSA) Company includes:

  1. Company;
  2. LLP;
  3. PCC
  4. Any other similar body formed under the laws of Labuan
Director’s Requirements The licensee will need at least 2 (two) natural person Fit and Proper Directors of any jurisdiction.
Shareholder requirements The Private Fund 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.
Custodian No person shall carry on business as a custodian of a private fund unless it is a:

  1. Bank Licensee
  2. Labuan Trust Company
  3. A qualified and authorised trustee or custodian of private funds under the laws of any recognised country or jurisdiction and has received written permission from the Authority to carry on business as a trustee or custodian of a private fund.
Auditor The Licensee, within one month after becoming licensed, The Authority may approve any person to be an approved auditor.
Minimum Capital Requirements The Applicant must have the prescribed minimum subscription and is able to meet the prescribed minimum net liquid capital requirement in cash or readily marketable securities.

The prescribed minimum subscription is RM250,000 (USD 63,000)

Ongoing Obligations

  1. 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;

  2. Ensure compliance with the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 and Guidelines on Anti-Money Laundering and Counter Financing of Terrorism which is relevant to Labuan FSA
  3. 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-

    1. each director of the fund, if the fund is a company
    2. each trustee of the fund, if the fund is a trust
    3. Each general partner of the fund, if the fund is a limited partnership.
    4. Appointment, resignation or removal of a Director or officer

About Valsen Fiduciaries

Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.

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The Valsen Advantage

  • We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
  • Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
  • We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
  • We have a full in-house compliance support for all compliance requirements with the regulator and service providers

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