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VASP license in Labuan
A VASP (Virtual Asset Service Provider) license is an official authorization for conducting legal activities related to virtual assets. Holding this license provides access to cooperation with banks and enhances trust among clients and partners.
Labuan is an offshore zone in Malaysia, known for its flexible regulation and fast, transparent licensing procedures. Additionally, the jurisdiction holds a reputable position within the Asian financial community, making it attractive for companies planning to enter the cryptocurrency market.
Contents
Requirements for Companies
VASP regulation in Labuan complies with international FATF (Financial Action Task Force) standards. The license is compatible with european MiCA provisions. It is issued by the Labuan financial services authority (Labuan FSA), which oversees the activities of relevant companies.
To obtain a license in Labuan, a company must be registered within the jurisdiction and maintain a physical presence on the island. It is also necessary to appoint at least two directors and complete the KYC/AML process.
VASP licenses are mandatory for businesses providing services related to virtual assets. This definition covers any natural or legal person engaging in one or more of the following activities:
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Exchange of virtual assets for fiat currency;
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Exchange between different types of virtual assets;
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Transfer of virtual assets;
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Custody and/or administration of virtual assets, or instruments granting control over them;
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Participation in the issuance of, and/or provision of financial services related to, the offering or sale of a virtual asset by its issuer.
VASP licensing procedure
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Company registrationFirst, it is necessary to register a company in Labuan either as a Labuan Company or Labuan Foreign Company and appoint at least two directors. Residency is not mandatory, but their impeccable reputation must be confirmed.
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Opening a corporate accountIt is also necessary to open a corporate account with a local bank and deposit the minimum authorized capital.
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Verification processInterviews with directors and key personnel may be conducted.
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Issuing a licenseAfter verification, a license for legal activity is issued.
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Specialists assistanceOur specialists at Law&Trust will assist you in collecting, translating, and notarizing documents. We will handle all interactions with the regulatory authority on your behalf.
Required document package
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Incorporation documents and information on beneficiaries
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Financial model
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AML/KYC and internal policies
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Capital details and proof of availability
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Biographies, certificates, and qualifications of key personnel
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Description of services offered and target markets
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Organizational structure and risk management plan
Documents are submitted to the regulatory authority, the FSA.
Our services
Law&Trust provides comprehensive support at all stages of obtaining a VASP license in Labuan and other jurisdictions. We offer professional consulting, help select the most suitable jurisdiction for your business, guide the company registration process, and carefully prepare the document package.
Our services include:
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Consulting on VASP licensing requirements
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Company registration in Labuan
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Preparation of the full document package for application
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Assistance with submission and communication with regulators
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Appointment of nominee directors and AML-compliant staff
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Ensuring full regulatory compliance
If you plan to develop your project internationally, legal support is essential. Our experts will help you select the optimal solution and assist you at every stage-from the initial idea to license issuance and successful business launch.
