There are also no geographical limitations when it comes to opening a Labuan Bank Account. This means that even individuals who reside in other parts of the country can use the account. In addition, you can always transfer funds to your account, and you can also apply for a new one anytime you, please. This is because the bank has branches in various cities. You need to check their online website for more information and details.
The bank allows its users to enjoy many facilities and advantages offered by international banks like transacting through it, ATM cards, check and cash advance services. Moreover, you can avail of the benefits of offshore accounts like the ability to invest in stocks, options, futures, bonds, and mutual funds. Most businesses also seek accounts in these banks to get some tax waivers that otherwise are not available to them in banks in their countries.