Labuan is an important destination for national and international investors. There are several banks in this offshore Malaysian jurisdiction. Investors can open a bank account here after providing details of their business. There are many local, private, commercial and international banks operating here. Services of company formation agents are available to set up a Labuan bank account. They can also help set up a trust company here.
Companies, investors or business owners planning to open their bank account in a Labuan bank have to provide some documents. The account opening form requires the applicant’s name, country of residence, nationality and other information. Several copies of an identification card like passport are needed. The company should be able to submit recommendation from a home country bank. Address proof can be established by submitting a document like utility bill. The bank may ask for some tax information.