Application Procedures for an International Takaful Operator
14 Jun 2013 | Friday
The MIFC Secretariat is the single point of contact for ITO licences.
The required application form and documents shall be submitted to the MIFC Secretariat to be processed. The MIFC Secretariat will facilitate the process of acquiring approval from the relevant authority.
|
Approval Authority |
Types of Application |
Forms Required |
Documents Required |
|
Bank Negara Malaysia |
ITO Licence |
1. Business plan |
Upon obtaining approval for an ITO licence, the ITO will be incorporated under the purview of the 'Companies Commission of Malaysia' (CCM).
Immigration, Tax and Foreign Equity Ownership
The MIFC Secretariat will facilitate the ITO applicants on matters pertaining immigration, tax and foreign equity ownership-related matters. The required forms and documents shall be submitted to enable the MIFC Secretariat to liaise with and/or notify the respective authorities. The relevants forms can be downloaded through the links below.
|
Approval Authority |
Types of Application |
Forms Required |
Documents Required |
|
Immigration Department of Malaysia |
Immigration related matters (employment pass, visa approval, etc) |
Application Form for Appointment of Expatriate Officer |
1. Cover letter from the financial institution |
|
Inland Revenue Board (IRB) |
Tax exemption or deduction granted through the MIFC initiative |
|
Application letter with details on income / expenses for tax exemption / deduction |
With regards to FIC applications, the MIFC Secretariat does not process the application but serves as a reference point for FIC-related matters.
