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Question: What kind of procedure is necessary to set up a marketing office?
2-5. Other General Questions
Answer: Prior to the establishment of marketing office, the Company need to have a Labuan operational office first (with full time staff working at the Labuan operational office). To proceed with the application of marketing, the following are required :- a) Marketing business plan that illustrates the purpose of the setup of marketing office, its target market/target segment, activities that will be performed at the marketing office, and a three (3) years financial projection (statement of comprehensive income and statement of financial position) of the company with the expansion through the marketing office. b) Tenancy Agreement of the Labuan Operational Office. c) Organization Chart of the Labuan operation office & marketing office. d) Biodata of the managerial person(s) at the marketing office. e) Address, telephone number, fax number, and Office In-Charge name of marketing office. NOTE:- Additional information may be requested by Labuan FSA to facilitate the processing of the application. The marketing office is strictly use for marketing purpose only, such as meeting with client or potential client. No operational function or bookkeeping shall be conducted in the marketing office. Annual government fee for marketing office is RM7,500 (payable by client upon marketing office approval granted, and subsequently payable by 15th January each calendar year). The marketing office must be an independent office in a premise. (separate door entrance) and must have a presentable signboard outside the office which contain company name & company number. Reporting Requirement for Marketing Office • Marketing office is require to submit a Half-Yearly Reporting which contain the Marketing Office’s organization chart & business activities conducted for the past six (6) months, to Labuan FSA on or before the 15th of the following month. (i.e: Reporting Period 1st Jan 20XX to 30th June 20XX, is require to submit to LFSA by 15th July 20XX). • Provide notification to Labuan FSA within thirty (30) days on any changes to the address of the marketing office being affected including its business plan.