Labuan, Cyprus, or HK for digital services business

[sujoe]

CIMB minimum deposit it RM 1000 which is around 250usd. I'm getting a physical office‌ at RM 600 per month (150usd). Minimum spend of RM 50K is easily attainable if‍ you are really treating it as a business.

 

[fshore]

I think 50k minimum spend is for holding companies. Active trading companies requires higher spend.‌
Still, a bargain compared to many other places.

 

[EliasIT]

say I can do that, what bank would open an account for me?

 

[fshore]

Cimb and maybank worked a couple years ago, not sure how it‍ is today.

 

[sujoe]

Was talking to the vendor that helped me setup the company and‍ the bank account, he said OCBC Malaysia is willing to onboard non-residents remotely.

100k and 200k are⁣ reserved for nature of businesses like insurance, banking, factoring etc, otherwise its 50k. pure holding⁢ companies are actually 20k only.

 

[fshore]

Good to know, I guess they updated it recently.
Do they still require to have two‍ full time employees?

 

[nomad999]

UOB can be opened remotely for a labuan company, or at least if done by‌ your mandatory labuan secretary company.

 

[sujoe]

yes two employees are still needed,‍ except for pure holding companies

 

[EliasIT]

What vendor is this?