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registration of legal entity

Стоимость регистрации Стоимость со второго года Количество директоров Налог на прибыль Оплаченный УК Бухгалтерская отчетность
22500.00 USD 15000.00 USD 1 0-18.5 0.00 Да

Registration of a company in Brunei

It is doubtfully whether somebody knows details about such a state, or to be more precise, the Sultanate as Brunei. But nevertheless, its name sounds familiar. It is due to the fame of the Sultan of Brunei, who is now one of the richest men in the world.

So what can be briefly narrated about Brunei? By the way, the full name of the country is Negara Brunei Darussalam, that presents it as the "Abode of Peace".

First of all, let's describe the political system. Brunei is the sultanate, a constitutional monarchy headed by the Sultan, and it must be confessed, allowing him to lead a rather luxurious life. The extraction of oil in Tutong is considered to be the basis of his wealth.

Strict Muslim way of life of locals as well as the official operation of the State Ministry of Religious Affairs are the reality of Brunei, where every step should be made in accordance with the norms of Islamic morality. Moreover, the regulatory function of religion is not limited to private life of a person, but also to the social order. However, at the same time, Bruneians tolerance towards other religions and representatives of foreign countries who feel themselves quite free on the territory of the Sultanate can not be underestimated. 

Brunei occupies the north-western coast of the island of Kalimantan (also known as Borneo), which is located in Southeast Asia. The city of Bandar Seri Begawan is the capital of the Sultanate.

The administrative structure of the state is represented by 4 districts. Brunei is famous for its forests, which occupy almost 75% of the land.

The equatorial maritime climate of Brunei is sometimes tolerated difficultly by visiting tourists. But it should also be noted that dry and wet seasons change each other quite smoothly, without turning this process into critical.

Brunei Dollar (BND) is the Sultanate's currency, that is quite stable and reliable. And this is one of the reasons for the fact that more and more businessmen are willing to register an offshore company in Brunei.

The main forms of doing business in Brunei

  • Severalty ownership;

  • Partnership;
  • Public (private) company;
  • Branch of a foreign company.

Offshore in Brunei, regardless of its form, shall be carried in the Registrar of Companies and the Database with the names of companies.

Now let’s consider the peculiarities of each of these organizational and legal forms.

  • The simplest form of business is a sole proprietorship, or, as it was defined above, - Severalty ownership. Such offshore in Brunei is not subject to corporate tax. Registration of sole proprietorship in Brunei provides for the issuance of the certificate to the owner indicating the name of the company. It should be noted that foreign entrepreneur can not establish such type of company in Brunei.
  • Partnership is a form of business, assuming participation in it of natural persons, local companies, and branches of foreign companies. Not more than 20 partners can be part of the partnership. In relation to the given form of business in Brunei corporate tax is also not provided. For establishment of partnership by non-resident of the jurisdiction permission from special bodies, namely the Department of Immigration, Economic Planning and Development and the Ministry of Labour, is required.
  • Possibility to choose the character of liability (limited and unlimited) on shares and guarantees is provided for private company. The company can have from 2 to 50 shareholders. And they do not have to be residents (citizens) of the Sultanate. Open sale of shares is not provided, as well as transfer of shares to third parties. Presence of the shares of the parent company in the subsidiary is allowed. For private company there are no restrictions on the minimum size of the authorized capital. Tax rate of 30% is provided for the company's profits.
  • Similarly to the above form public company can also have limited and unlimited liability. It is allowed to sell its shares publicly. The company should have from 7 shareholders, residency of whom does not matter. The shares of the parent company can be in possession of subsidiary. At least half of the directors of the company should be citizens or residents of the jurisdictions. Minimum share capital is not provided. Auditors of the company (their appointment is required) shall reside in Brunei and submit annual reports to the appropriate authorities.
  • As mentioned above, the offshore registration in Brunei can have the form the branch of the foreign company. At least one of the directors of the branch must be resident of Brunei and have the authority to represent the interests of the branch in the territory of jurisdiction. All certified and translated, if necessary, into English documents are transmitted to the Registrar of Companies.

Taxes in Brunei

In Brunei, the offshores are not levied with:

- income tax;
- export/import and other types of fees;
- corporation tax.

Especially favorable ground is created in the Sultanate for companies involved in telecommunications and e-commerce. This means zero tax base, which  is replaced to some extent by stamp duties. This policy is aimed at attracting foreign investment.

Bookkeeping in Brunei

Companies shall submit financial statements.

In case the company does not enjoy such types of licenses as insurance or banking, it is not obliged to submit auditing and accounting reports.

Registration of offshore company in Brunei will take minimum time and effort. We will take care of all the work on preparation of documents. If you are planning to register offshore company in Brunei, our experts will do it as soon as possible. We can easily advise you on the offshore areas of Brunei. Buying company in Brunei means to start a successful international business today.

Set of documents
   
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Nominee director and shareholder
 

Price: +7500 USD

 
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General information
Square5 765.00
Population408 786.00
CapitalBandar Seri Begawan
Unemployment3.70
Telephone code673
Place in the world in corruption44
locationSoutheastern Asia, bordering the South China Sea and Malaysia
ClimateTropical; hot, humid, rainy
Literacy rate92.70%
USD exchange rate1.26
GDP per capita9
Credit ratingN/R
The judiciaryThe Supreme Court, the Judicial Committee of the Privy Council (in London, the court of last resort in civil cases); Sharia courts considering the laws of Islam
Executive authorityHead of government: Sultan and Prime Minister. Government: Board of Cabinet, chaired and appointed by the monarch, deals with executive matters; Religious Council (members appointed by the monarch); Privy Council (members appointed by the monarch)
Legislative authoritiesLegislative council, appointed by the Sultan, 29 members
Corporate information
Opportunity to purchase ready-made companiesYes
The use of the Cyrillic alphabet in the nameNo
Local registered officeYes
Organizational and Legal FormsInternational Business Company (IBC); International Limited Partnership; International Trust; Sole proprietorship; Partnership; Private Company (Sendirian Berhad); Public Company (Berhad); Branch of Foreign Company
Indication of BPA in the nameLimited or Ltd
Local registered agentYes
Shares and share capital
Standard currencyUSD
Bearer sharesNo
The usual size of the authorized capitalUS$50,000
Possibility to issue shares without par valueNo
Taxation
VATNo
Basic corporate tax rate0-18.5
Capital gains taxNo
Currency controlNo
Corporate tax rates detailsInternational Trading Company (IBC) is tax exempt. Updated February 2018: Rate for oil and gas companies is 55%.
Stamp dutyNo
Director and Secretary
Minimum number of directors1
The requirement for residency directorsNo
Director of legal entities are allowedYes
The data reveals to the local agentYes
Data field to the public registryNo
The requirement for the presence of the SecretaryYes
Requirement to the residense of the SecretaryYes
Requirements to qualification of the SecretaryNo
Legal entity as the SecretaryNo
Shareholder and beneficiary
Minimum number of shareholders2
Data is entered in the public registerNo
Shareholders residency requirementNo
Information about the beneficiary is disclosedNo
Information may be disclosed to the local agentNo
Shareholders-legal entities are acceptableYes
Reporting
The requirement for filing reportsYes
Open access to reportsNo
Statutory auditNo
The requirement for filing Annual ReturnNo
Open access to the Annual ReturnNo
The requirement for reportsYes
Treaty on avoidance of double taxation (States which signed)12
Membership in the OECDNo
Is it offshore according to Russian legislationNo
Trademark Registration
TM Comprehensive Study TM Registration Request TM Registration Certificate Total
First Class Additional Class First Class Additional Class First Class Additional Class First Class Additional Class
351.00 333.00 1170.00 630.00 333.00 297.00 1854.00 USD 1260.00 USD
«TRADEMARK» refers to «Wordmark», «Logo» or «Wordmark + Logo»

Prices include all professional and official fees. If the change of official duties or exchange rates prices may vary.

In Brunei, Trademark Comprehensive Studies are for word marks only.
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