Keep your books audit-ready all year.
We provide accounting and bookkeeping for Labuan entities: ledger maintenance, management accounts and year-end financial statements prepared under an accepted international accounting standard (such as IFRS, or where adopted MFRS/MPERS), ready for statutory audit.
Make an enquiryBooks are where the compliance stack begins.
Through the first financial year, the obligations build on one another. Records that correctly explain every transaction, statements that meet the reporting standard, an audit, a tax filing, and a substance position, all of which has to reconcile.
We keep the books for Labuan companies, trusts and foundations as part of your corporate services, recording and reconciling transactions across multiple currencies. We then prepare financial statements under an accepted international accounting standard, so the same figures carry cleanly through to audit, tax and substance.
See what we handleOne set of books, carried through to audit and tax.
QX Trust Co. Ltd is a Labuan Managed Trust Company headquartered in Labuan IBFC. We keep the books and coordinate the audit, tax and substance as your licensed operator, not through an intermediary. We serve you in English, Chinese and Malay.
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Labuan FSA licensed
LMT0081
Our Labuan licence
EN + ZH + MS
Language desks
Labuan IBFC
Headquartered
What we handle on the books.
Six parts of the accounting cycle, run by one team so the figures stay consistent across every statutory report.
Bookkeeping and ledger
Ongoing transaction recording, bank reconciliations and trial balance preparation. The general ledger is kept current so nothing piles up for a year-end scramble.
Multi-currency accounting
Ledgers maintained in USD, SGD, HKD, EUR and other currencies alongside MYR, with the foreign-exchange treatment required by the applicable reporting standard.
Management accounts
Monthly or quarterly accounts to an agreed format. Useful for group reporting and for evidencing substance through documented local expenditure.
Financial statements
Annual financial statements prepared under an accepted international accounting standard (such as IFRS, or where adopted MFRS/MPERS), depending on the size and nature of the entity, ready for the appointed Labuan auditor.
Audit coordination
The audit pack assembled and handed to an approved auditor, with audit queries managed through to signed accounts. We sit between you and the auditor.
Records and retention
The ledger and supporting documents held in Labuan, available for inspection by any director, and by Labuan FSA where the Authority so directs, and retained for the period the law requires so the figures can be reviewed at any point.
From onboarding to year-end accounts.
Four steps to take over the books and carry them through to signed statements, run by the team that keeps them afterwards.
Scoping and onboarding
A short conversation on entity type, transaction volume and existing records. We agree the bookkeeping frequency, the reporting format and how documents reach us before we take over the books.
Chart of accounts and migration
We set up the chart of accounts, migrate any existing records and reconcile opening balances. A secure document-exchange route is established between you and the engagement team.
Ongoing bookkeeping
Transactions are recorded and reconciled on the agreed cycle, management accounts go out on schedule, and queries are flagged early so they are resolved well before year-end.
Year-end and audit
We prepare the financial statements under an accepted international accounting standard (such as IFRS, or where adopted MFRS/MPERS), hand the audit pack to the appointed auditor, and manage the audit through to signed accounts and the tax filing.
Frequently asked.
Direct answers on records, standards, audit and how the figures connect across reports.
What accounting records must a Labuan company keep?
A Labuan entity must maintain accounting records that correctly explain its transactions and financial position. In practice this means a general ledger, bank statements, invoices, contracts, payroll records and supporting documents. The records are kept in Labuan, at the registered office, and must be available for inspection by any director, and by Labuan FSA where the Authority so directs.
What accounting standards apply to Labuan entities?
Labuan FSA permits financial statements to be prepared under an accepted international accounting standard (such as IFRS, or where adopted MFRS/MPERS). The choice follows the size and nature of the entity, and we confirm the appropriate framework during scoping.
Do Labuan companies need an audit?
Whether an audit is required depends on the entity's licence or activity and its tax treatment under the Labuan Business Activity Tax Act 1990. Trading activity taxed at 3 percent is charged on audited net profits, so audited accounts are needed. We confirm the position during scoping before any work begins.
How long must accounting records be retained?
Accounting records for a Labuan entity are retained for the period required by law and kept available for inspection. In practice we hold the general ledger and supporting documents for at least six years, aligned with anti-money-laundering record-keeping obligations, so the figures can be reviewed by the auditor or by Labuan FSA at any point in that window.
Can QX Trust handle bookkeeping in multiple currencies?
Yes. Labuan entities frequently operate in USD, SGD, HKD, EUR and other currencies alongside MYR. We maintain multi-currency ledgers, apply the foreign-exchange treatment required by the reporting standard, and consolidate for group reporting as part of the standard scope.
How does bookkeeping connect to substance and tax reporting?
The same numbers feed three reports. The financial statements support the audit, the audited figures support the tax filing, and documented local expenditure supports the substance position. Because we keep the books and coordinate the audit, tax and substance reporting, the figures stay consistent across every statutory submission.
Need bookkeeping for a Labuan entity?
Tell us about the entity and the transaction volume. We scope the work, take over the books, and carry them through to audited statements.
Make an enquiry