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Doing Business in Brunei
 
 
 

Forms of Business Organisation

In Brunei, a business may be set up under any of the following forms:

• Sole Proprietorship;
• Partnership;
• Company (Private or Public Company);
• Branch of foreign Company.

All businesses must be registered with the Registrar of Companies and Business Names. The proposed name of business or companies must first of all be approved by the Registrar of Companies and Business Names. For each name proposed a fee of B$5 is imposed.

Sole Proprietorship

• Upon arrival, a business name certificate is issued and a fee of B$30 is imposed;
• At the moment, it is not subject to corporate tax;
• Foreigners are not eligible to register.

Partnership

• May consist of individuals, local companies and/or branches of foreign companies;
• The maximum permitted number of partners is 20;
• Upon approval, a business name certificate is issued and a fee of B$30 is imposed;
• Application by foreign individuals is subject to prior clearance by the Immigration Department, Economic Planning and Development Unit and the Labour Department
before they are registered;
• At the moment, it is not subject to corporate tax.

Private Company

• May be limited by shares, guarantee or both by shares and guarantee or unlimited;
• Must have at least two and not more than 50 shareholders. Shareholders need not be Brunei citizens or residents;
• Restrict the right of members to transfer shares and prohibit any invitations to the public to subscribe for shares and debentures;
• A subsidiary company may hold shares in its parent company;
• Memorandum and Articles of Association must be filed with the Registrar of Companies and Business Names with other incorporation documents in the prescribed form;
• Upon arrival, a Certificate of Incorporation will be issued and a fee of B$25 is imposed;
• The registration fees are based on a graduates scale on the authorised share capital of the company;
• No minimum share capital is required;
• Private Companies are required to do the following:
a) Appoint auditors who are registered in Brunei Darussalam;
b) Prepare a profit and loss account and balance sheet, accompanied by the Director's Report annually;


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