Malaysia is a solid trading hub with connections and business collaborations with countries worldwide. Being part of Malaysia, Labuan is an offshore jurisdiction where foreign investors can set up import and export companies in respect to the applicable laws for this province. In terms of partners, Malaysia, including Labuan, has business trades with Asian countries, with Europe, South Africa, and America. Foreign investors who want to start an offshore company in Labuan are invited to talk to our team of company incorporation specialists in Labuan for assistance and information.
What do Labuan companies export worldwide?
Medical equipment, plastic articles, machinery, vehicles, iron and steel products, rubber, wood, mineral fuels, and organic chemicals are a few of the items exported by Labuan at an international scale. China, USA, Singapore, Thailand, and Japan are just a few of the important trading partners of Malaysia. In matters of numbers, products worth approximately $218 billion took the trading road of countries worldwide in 2017. More than 72% of the Malaysian GDP is represented by the exports of this country.
Imports in Labuan
Germany, Taiwan, USA, China, Hong Kong, Japan, Thailand, Indonesia, South Korea, and Singapore are representative business partners of Malaysia in matters of imported products. Here are a few facts about the exports of Malaysia, including Labuan:
- • chemicals, iron, steel, oil, machinery, vehicles and electronics are exported products by Malaysia;
- • Sandakan Labuan, Kuantan, Penang, Miri, Port Kelang, Muar, and Sibu are important trading ports in Malaysia;
- • the Royal Customs and Excise Departments is in charge with the import and export formalities, plus the agency that collects the duties;
- • foreign trading companies in Labuan benefit from the excellent business environment and a widespread system of roads with connections worldwide.
If you have decided for business in Labuan, and if you are interested in opening a company in Labuan, we invite you to send your inquiries to our team of advisors in Malaysia. Feel free to contact us at any time.
Our consultants are ready to assist you the process of setting up a Labuan offshore business operating in the import/export sector.
Please mind that the basic costs for starting a business in Labuan can be around $4,000 (the incorporation costs and fees) and they can increase depending on the type of business structure chosen, licensing fees, the rental of an office space, etc.