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Administration services

In terms of the management of general administration for a Labuan Company, our clients can be assured we will handle the compliance elements, so they can focus on their marketing efforts. Our administration services include:  

Accounting (including technical accounting) through our in-house IT system

  • Keeping track of receivables and payables
  • Establishing business accounts by original currency (multiple currency)
  • Producing accounts for various financial reporting purposes, including management reports, financial reports for stakeholders/auditors and statutory reports

Treasury and cash flow management

  • Enabling the control of cashflow for receipts and payments, as well as general expenditures, by executing proper payments procedures
  • Suggesting a budget to control the level of cash and solvency margin
  • Ensuring due compliance with Anti-Money Laundering controls

Statutory and regulatory compliance

  • Preparing and submitting reports to LFSA and other regulators
  • Issuing updates on new Laws and Guidelines applicable to the Labuan entity
  • Performing compliance checks and working with regulators and internal auditors on compliance matters

Administration and human resources

  • Providing professional executive manpower for the Labuan entity with local knowledge and technical know-how
  • Offering human resource management where applicable – covering recruitment, registration, payrolls and appraisals

Record keeping

  • Keeping records in hard or electronic copies, in a well-structured manner
  • Securing records and ensuring they are kept confidential
  • Producing procedures for the keeping of records, which are based on applicable laws and guidelines, as well as complying with the provisions of AML/CFT
Materials
Challenge Group Presentation
Agricultural Insurance
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News
07.06.2017
The event is a joint effort between Labuan IBFC and the Labuan International Insurance Association, an association representing the insurance and risk management industry in the jurisdiction. The conference will highlight the benefits of self-insurance, with special focus on captive insurance...
11.01.2017
On10th January, Insurance Institute of London (IIL) held a lecture on a new reinsurance player in the Russian market – Russian National Reinsurance Company (NRC). Mr. Nikolay Galushin, the president-chairman of NRC, was invited to update the London market on NRC’s current opportunities...