Update 17 February 2015
For any incomplete or incorrect information provided by the applicant, the Authority will reject the application and the application fee shall be forfeited. This is also applicable if the application is being withdrawn by the company.
Please be informed that effective 1 January 2015, all work permit application (new and renewal) must be supported by the company’s business plan. All other required documentations remain unchanged.
As a guide, the minimum information required for business plan should include the following details:
(i) Profile of the Labuan company;
(ii) Description of business activity;
(iii) Manpower requirement;
(iv) Financial forecast for three years;
(v) Other relevant information that may support the application.
For applicant that is originated from the High Risk and Deficiency Jurisdictions identified by FATF, interview session is mandatory prior to any recommendation made by the Authority to the Immigration Department. While, applicant originated from other jurisdiction may also be subjected for an interview session if required.
Renewal of work permit is not guaranteed as it will depend on the need of the holder. The company must be able to provide documented evidence that the company is operating and not dormant thus the need for the work permit. Example of supporting documents required includes audited account or management account, evidence of invoices, business contract and agreement, correspondences with clients and other document that the company may want to provide to support the application.
In addition to the above, the renewal of work permit application must be submitted to Labuan FSA atleast one month prior to its expiry date. In the past, Labuan FSA noted that some trust companies submit renewal application one week before its expiry date and sometimes even less. To avoid any inconveniences to your client, the trust company is advice to renew their clients work permit early to avoid any additional cost or administrative burden to the client.