How to open a corporate account in Labuan in 2024

Entrepreneurs who plan to open a bank account in Labuan, we recommend reading this article. It was written to draw your attention to a summary of what should be taken into account when opening a bank account in Labuan.

Identity verification

When opening a corporate account with a Labuan bank, you must know that all banks require verification of the identity and obtaining an information about your company.

We draw your attention to the fact that the policies and procedures of banks regarding opening an account for a company in Labuan may change from time to time. Financial and banking institutions pay closer attention to opening accounts for high-risk companies and businesses with high level of sanctions. In various banks, this list may be different.

Account opening requirements

Each bank has special requirements for opening a bank account. The following is an indicative list of what is needed to open a corporate account with a Labuan bank:

  1. You need to comply with KYC requirements of the bank (a proof of identity of the client, a solvency and potential risks);
  2. To prepare tax identification numbers of all shareholders/founders/signatories (if any);
  3. To fill out forms for opening a business account in Labuan;
  4. To provide notarized copies of the AOA and Certificate of company registration.

After the approval of application for opening an account with a Labuan bank, you will be informed of all details.

Account opening procedure

If you decide to register a business in Labuan and open an account for a Labuan company, take a closer look at the following:

  • Account opening is available in these currencies: USD, EUR, GBP. Also, it is possible to open a multi-currency account;
  • The average account opening period is 2-3 weeks;
  • The availability of investment accounts.
  • An initial deposit (minimum) and monthly average balance are 10,000 USD;
  • A personal visit is required.


YB Case advisors has provided qualified support in opening accounts in various jurisdictions. Our experts can provide you with professional assistance in a corporate account opening with Labuan banks, as well as professional advice on setting up a company in Labuan.

If you have additional questions, please use the contacts listed on our website.

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