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Open a Bank Account in Labuan (Malaysia)
$1,250.00
The Labuan International Business and Financial Centre is a reputable free trade area located in the Federal Territory of Labuan, an island off the coast of the state of Sabah in East Malaysia. Labuan is becoming one of the major financial hubs of Asia due to its pro-business regulation, low taxes and compliance with international standards on due diligence and transparency.
We can help you open bank accounts in Labuan.
Accounts are available for individuals.
We work with 3 different banks in Labuan.
Each bank has different eligibility requirements, types of accounts available and onboarding processes.
We invite you to carefully review each banks requirements and services below to better understand if their banking services meet your needs:
- Bank Account option 1 (Corporate)
- Citibank (Corporate)
- MayBank International Labuan Branch (Corporate)
Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal 'back and forth' and a smooth account opening process.
Bank Account option 1
Account Details
| Eligibility | Offshore Companies, Onshore Companies, Local Companies |
| Min Deposit | USD 10,000 |
| Currencies | USD, JPY, SGD, EUR, GBP |
| Cards | No |
| Remote | Yes |
| Off-shore non-resident | Yes |
| Other Services | Transactional Banking |
For businesses operating offshore or non-resident companies seeking to establish corporate banking relationships in Labuan, we collaborate with a mid-size financial institution renowned for its expertise in serving international clientele. With decades of industry experience, this bank has positioned itself as a key player in supporting global businesses across a variety of sectors. This bank welcomes companies incorporated in numerous offshore jurisdictions without the stricter requirements, such as business nexus in the South Asia - East Asia regions, unlike larger institutions within Labuan. Catering to a diverse range of industries, the bank is well-versed in supporting investment and asset holding companies, as well as businesses engaged in sectors such as trade, professional services, e-commerce, among others. Whether you operate in consultancy, marketing or international trade, this bank offers tailored services to meet your corporate banking needs. Their corporate accounts are available in various major currencies, such as USD, JPY, SGD, EUR and GBP and the bank supports SWIFT transactions. Transactions will be carried out with the assistance of a dedicated personal relationship manager. In addition to traditional banking services, the bank also offers Islamic banking options, including Shariah-compliant investment products and Islamic trade financing solutions. Minimum relationships start from USD 10,000. The account opening process can be handled entirely remotely, eliminating the need for travel to Labuan. We will guide you through the preparation of the necessary KYC documentation and provide comprehensive support to ensure a seamless and efficient bank account application process. If you are interested in opening a corporate bank account in Labuan, contact us today to assess your eligibility and initiate the account opening process!
Citibank
Account Details
| Eligibility | Offshore Companies, Onshore Companies, Local Companies |
| Min Deposit | USD 250,000 |
| Currencies | Multicurrency |
| Cards | No |
| Remote | Yes |
| Off-shore non-resident | Yes |
| Other Services |
MayBank International Labuan Branch
Account Details
| Eligibility | Offshore Companies, Onshore Companies, Local Companies |
| Min Deposit | USD 25,000 |
| Currencies | USD, EUR, CAD, CHF, GBP, HKD, SGD, JPY, THB, AED |
| Cards | No |
| Remote | Yes |
| Off-shore non-resident | Yes |
| Other Services |
They focus more on Labuan incorporated entities.