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Register Company in Brunei

August 26, 2023

[av_section min_height=” min_height_pc=’25’ min_height_px=’500px’ shadow=’no-border-styling’ bottom_border=’no-border-styling’ bottom_border_diagonal_color=’#333333′ bottom_border_diagonal_direction=” bottom_border_style=” padding=’default’ custom_margin=’0px’ custom_margin_sync=’true’ av-desktop-custom_margin=” av-desktop-custom_margin_sync=’true’ av-medium-custom_margin=” av-medium-custom_margin_sync=’true’ av-small-custom_margin=” av-small-custom_margin_sync=’true’ av-mini-custom_margin=” av-mini-custom_margin_sync=’true’ svg_div_top=” svg_div_top_color=’#333333′ svg_div_top_width=’100′ svg_div_top_height=’50’ svg_div_top_max_height=’none’ svg_div_top_opacity=” svg_div_bottom=” svg_div_bottom_color=’#333333′ svg_div_bottom_width=’100′ svg_div_bottom_height=’50’ svg_div_bottom_max_height=’none’ svg_div_bottom_opacity=” fold_type=” fold_height=” fold_more=’Read more’ fold_less=’Read less’ fold_text_style=” fold_btn_align=” color=’main_color’ background=’bg_color’ custom_bg=” background_gradient_direction=’vertical’ background_gradient_color1=’#000000′ background_gradient_color2=’#ffffff’ background_gradient_color3=” src=’https://www.fionzaglobal.com/wp-content/uploads/2023/08/atlantis-resort-bahamas-1470×600-1-300×122.jpg’ attachment=’2070′ attachment_size=’medium’ attach=’scroll’ position=’top center’ repeat=’stretch’ video=” video_ratio=’16:9′ overlay_enable=’aviaTBoverlay_enable’ overlay_opacity=’0.5′ overlay_color=’#000000′ overlay_pattern=” overlay_custom_pattern=” custom_arrow_bg=” fold_overlay_color=” fold_text_color=” fold_btn_color=’theme-color’ fold_btn_bg_color=” fold_btn_font_color=” size-btn-text=” av-desktop-font-size-btn-text=” av-medium-font-size-btn-text=” av-small-font-size-btn-text=” av-mini-font-size-btn-text=” fold_timer=” z_index_fold=” css_position_z_index=” av-desktop-css_position_z_index=” av-medium-css_position_z_index=” av-small-css_position_z_index=” av-mini-css_position_z_index=” id=” custom_class=” template_class=” aria_label=” av_element_hidden_in_editor=’0′ av_uid=’av-p9blm2′ sc_version=’1.0′]

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Fionza Consultants offers comprehensive support for clients looking to register a company in Brunei. Our services encompass Brunei company registration, corporate bank account setup, and managing accounting and tax responsibilities. We provide a seamless, one-stop solution to help you establish your business in Brunei within legal parameters.

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Company Registration – 2 Week
Local Director? – No
Bank Account Opening -3 Weeks
Travel Required – No
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It’s great to know that Fionza Consultants can assist with company registration in Brunei. Establishing a company in Brunei can indeed be a streamlined process, but it’s important to ensure you follow all the legal and regulatory requirements. Based on the information you provided, here’s an overview of the services offered by Fionza Consultants:

Company Registration: Fionza Consultants can assist with the registration of your company with the Registry of Companies and Business Names in Brunei. This is a fundamental step in establishing a legal business entity in the country.
Local Company Secretary and Registered Address: Having a local company secretary and a registered address is often a legal requirement in many jurisdictions, including Brunei. This ensures compliance with local regulations, and Fionza Consultants can help you fulfill these obligations.
Nominee Director: In some cases, especially for foreign-owned companies, a nominee director may be required. This individual acts as a local representative but does not necessarily have a significant role in the daily operations of the company.
Corporate Bank Account Opening: Fionza Consultants can assist with the process of opening a corporate bank account in Brunei. This is essential for managing your business finances, accepting payments, and conducting transactions.
Financial License Applications: Depending on the nature of your business, you may require specific licenses or permits. Fionza Consultants can guide you through the application process to ensure compliance with Brunei’s regulatory framework.
Annual Accounting and Tax Services: Maintaining accurate financial records and complying with tax regulations is crucial for any business. Fionza Consultants can provide accounting and tax services to help you meet your annual obligations.

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[av_heading heading=’How long to register company in Brunei and open a corporate bank account?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llrkrtwq’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Fionza Consultants guarantees swift Brunei company registration in just 2 weeks. Upon receiving the necessary due diligence documents from directors and shareholders, we will promptly check the availability of your desired company name and commence the preparation of essential incorporation documents.

Rest assured, our registration process is entirely remote, ensuring hassle-free and non-travel solutions throughout.

Once the setup is finalized, we will efficiently dispatch your new company’s documents, including the Certificate of Incorporation and the Memorandum and Articles of Association, to your preferred address.

In addition to company registration, Fionza Consultants will facilitate the opening of a corporate bank account for you within 4 weeks, all without the need for travel.

Our aim is to provide convenient non-travel banking solutions, ensuring a seamless experience for our clients.

Within a mere 6 weeks from the commencement of our engagement, your company will be fully established and primed for business. Trust Fionza Consultants for a swift and efficient registration process tailored to your needs.
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[/av_one_full][av_one_full first min_height=” vertical_alignment=’av-align-top’ space=” row_boxshadow=” row_boxshadow_width=’10’ row_boxshadow_color=” custom_margin=” margin=’0px’ av-desktop-margin=” av-medium-margin=” av-small-margin=” av-mini-margin=” mobile_breaking=” mobile_column_order=” border=” border_style=’solid’ border_color=” radius=” min_col_height=” padding=” av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” svg_div_top=” svg_div_top_color=’#333333′ svg_div_top_width=’100′ svg_div_top_height=’50’ svg_div_top_max_height=’none’ svg_div_top_flip=” svg_div_top_invert=” svg_div_top_front=” svg_div_top_opacity=” svg_div_top_preview=” svg_div_bottom=” svg_div_bottom_color=’#333333′ svg_div_bottom_width=’100′ svg_div_bottom_height=’50’ svg_div_bottom_max_height=’none’ svg_div_bottom_flip=” svg_div_bottom_invert=” svg_div_bottom_front=” svg_div_bottom_opacity=” svg_div_bottom_preview=” fold_type=” fold_height=” fold_more=’Read more’ fold_less=’Read less’ fold_text_style=” fold_btn_align=” column_boxshadow=” column_boxshadow_width=’10’ column_boxshadow_color=” background=’bg_color’ background_color=” background_gradient_direction=’vertical’ background_gradient_color1=’#000000′ background_gradient_color2=’#ffffff’ background_gradient_color3=” src=” background_position=’top left’ background_repeat=’no-repeat’ highlight=” highlight_size=” fold_overlay_color=” fold_text_color=” fold_btn_color=’theme-color’ fold_btn_bg_color=” fold_btn_font_color=” size-btn-text=” av-desktop-font-size-btn-text=” av-medium-font-size-btn-text=” av-small-font-size-btn-text=” av-mini-font-size-btn-text=” animation=” animation_duration=” animation_custom_bg_color=” animation_z_index_curtain=’100′ parallax_parallax=” parallax_parallax_speed=” av-desktop-parallax_parallax=” av-desktop-parallax_parallax_speed=” av-medium-parallax_parallax=” av-medium-parallax_parallax_speed=” av-small-parallax_parallax=” av-small-parallax_parallax_speed=” av-mini-parallax_parallax=” av-mini-parallax_parallax_speed=” fold_timer=” z_index_fold=” css_position=” css_position_location=” css_position_z_index=” av-desktop-css_position=” av-desktop-css_position_location=” av-desktop-css_position_z_index=” av-medium-css_position=” av-medium-css_position_location=” av-medium-css_position_z_index=” av-small-css_position=” av-small-css_position_location=” av-small-css_position_z_index=” av-mini-css_position=” av-mini-css_position_location=” av-mini-css_position_z_index=” link=” linktarget=” link_hover=” title_attr=” alt_attr=” mobile_display=” mobile_col_pos=’0′ id=” custom_class=” template_class=” aria_label=” av_uid=’av-ckamii’ sc_version=’1.0′]

[av_heading heading=’Can a foreigner register company in Brunei?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llrkvn8z’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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The Brunei government highly values foreign direct investment (FDI) as a pivotal catalyst for its vision of fostering a vibrant and enduring economy. As a testament to this commitment, Brunei welcomes FDI with open arms, permitting 100% foreign ownership.

To encourage and facilitate FDI, Brunei extends a range of incentives and support mechanisms. These invaluable resources are accessible through various channels, including the FDI Action and Support Centre, the Economic Development Board, and the Ministry of Foreign Affairs and Trade.

However, it’s important to note that while Brunei promotes foreign investment, foreign companies are required to have at least one director who is either a citizen, permanent resident, or residing in Brunei. This ensures a balance between international participation and local involvement in economic activities.

In summary, Brunei offers a conducive environment for FDI, promoting 100% foreign ownership, and provides essential support and incentives through key government agencies. Nonetheless, local representation remains a prerequisite for foreign firms as a means to foster collaboration with the local community.
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[av_heading heading=’How to register company in Brunei?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llrkxia9′ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

Step 1: Choosing the Right Business Entity

Before diving into the incorporation process, our dedicated consultants will assess your business objectives and activities. Based on this understanding, we’ll recommend the most suitable business entity for you. We’ll also guide you on determining the optimal paid-up share capital, business structure, relevant legislations, and any necessary licenses for your operations.

Step 2: Reservation of Your Company Name

Fionza Consultants will take care of reserving your preferred company name with the Registrar of Companies.

Step 3: Preparation of Essential Documents

To proceed with the incorporation, you’ll need to furnish us with a list of mandatory Know Your Customer (KYC) documents, including director names and identification proof. Once we have all the necessary documents, we’ll draft and notarize your company’s Memorandum and Articles of Association. While Brunei recognizes English as the official language for business and education, translation into Malay by a certified translator is optional. However, if needed, we can provide you with a certified translator. Depending on your business activity and corporate structure, we’ll also draft articles of incorporation, a business plan, and other required incorporation documents.

Step 4: Filing for Company Registration

Local laws mandate a registered office, which our team can provide. In specific cases, a registered agent may be necessary, and we’ll arrange for one accordingly. We will then proceed with the registration filing with the Registry of Companies and Business Names. Upon approval, Fionza Consultants will promptly courier the Certificate of Incorporation, Memorandum and Articles of Association, and other relevant documents to your chosen address, all in English. You’ll also receive your company registration number.

Step 5: Opening a Corporate Bank Account

After successful registration, we will guide you through the corporate bank account opening process. Fionza Consultants maintains strong relationships with reputable banks in Brunei, ensuring a smooth introduction of your business to each bank’s relationship manager and compliance team. Typically, this process takes around four weeks, often without the need for directors and shareholders to travel. If travel becomes necessary, we can arrange for a representative to accompany you to the bank meeting. Alternatively, we’ll negotiate with the banks for a conference call or request a waiver. Once your account is established, we’ll courier the internet banking token and access codes to your preferred address. Our portfolio of banking partners includes esteemed institutions like Baiduri Bank, RHB Bank, Maybank, and Standard Chartered.

Step 6: Financial Reporting and Taxation Obligations

Beyond the setup phase, Fionza Consultants remains your trusted partner, providing essential accounting and tax services to ensure your business operates legally and remains compliant with regulatory obligations. Our experienced consultants will prepare your firm’s financial statements, corporate tax returns, and manage bookkeeping on your behalf. Corporate income tax in Brunei generally stands at 18.5%, and non-resident companies are mainly taxed on locally sourced income or profits earned through local operations. Annual financial statements are due by 30 June of the assessment year.

Rest assured, our dedicated consultants will be available to address any queries or concerns regarding your company’s obligations.

Count on Fionza Consultants for a seamless and expertly guided path to incorporating your business and establishing a bank account in Brunei.
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[av_heading heading=’Types of business entities in Brunei’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llrl0bnk’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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When it comes to choosing the right business structure in Brunei, you have several options, each with its own unique features in terms of personal liability protection, tax implications, ownership flexibility, management requirements, and compliance obligations. Fionza Consultants is here to assist you in making the most suitable choice for your business, taking into consideration factors such as your business activities, tax responsibilities, and the nationalities of your shareholders and directors. Our expert consultants will also provide comprehensive information on the necessary requirements for establishing these entities.

1. Sole Proprietorship

The simplest business structure in Brunei, a sole proprietorship, is essentially an extension of the owner’s legal identity. However, it comes with a significant drawback: the owner bears personal liability for all business obligations. While this offers operational simplicity, it can pose challenges when closing the business since business transfer is not permitted, leading to a lack of continuity.

Sole proprietorships are subject to taxation at personal income tax rates. This might seem appealing due to the absence of personal income tax, but only local citizens and permanent residents can register sole proprietorships. Therefore, foreign investors are ineligible to establish this type of business.

2. Partnership

Partnerships in Brunei must consist of a minimum of two partners but cannot exceed twenty partners. This structure is not considered a separate legal entity, leaving partners exposed to unlimited liability for the business’s debts and obligations, much like sole proprietorships. Like sole proprietorships, partnerships can only be registered by local citizens and permanent residents.

3. International Limited Partnership

International Limited Partnerships in Brunei are flexible structures with at least one or more general partners. In the event of winding up, general partners can be personally liable for the company’s debts and obligations. One of these general partners must own a licensed entity in Brunei. However, limited partners are exempt from personal liability and face no nationality requirements. Limited partners, however, cannot actively participate in the business.

This corporate structure is well-suited for trading and holding activities, especially if you don’t intend to deal with local clients. A resident director is not mandatory, and a minimum share capital of US$2 is required to establish an International Limited Partnership.

4. Corporations

Corporations are separate legal entities from their shareholders and directors, providing them with limited liability protection. Incorporating a corporation involves more stringent requirements and compliance obligations than other structures, but Brunei has been simplifying these steps to improve the ease of doing business. Corporations need at least two directors, with half of them being ordinarily residents, two shareholders, and they must file annual returns and reports. The minimum capital requirement for both structures is only US$1.

Public corporations face stricter requirements, requiring at least seven local resident shareholders and undergoing statutory audits. However, they have the advantage of issuing and transferring stocks, making it easier to raise capital.

5. Brunei Free Trade Zone Company

This specialized form of a limited liability company operates within the Pulau Muara Besar Free Trade Zone. These companies enjoy tax exemptions while still being allowed to engage with local clients. They require one less director and shareholder than standard corporations.

6. Branch Office

Branch offices in Brunei are essentially extensions of foreign registered companies, representing them locally. The parent company assumes unlimited liability for the branch office’s losses and debts. Establishing a branch office requires a resident director, a local registered office, and a local agent. Branch offices are subject to standard corporate tax, withholding tax, and annual financial statement filing.

We hope this information helps you in selecting the most appropriate business structure for your needs in Brunei. If you need further assistance or guidance, please don’t hesitate to reach out to Fionza Consultants.
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When it comes to the critical aspects of accounting and tax compliance for your company in Brunei, entrusting these responsibilities to Fionza Consultants ensures peace of mind and efficiency. Our team of dedicated consultants will expertly manage your firm’s financial statements, corporate tax returns, and audits, all without the need for you to be physically present.

Outsourcing your accounting and tax obligations to Fionza Consultants also offers the advantage of cost reduction, coupled with the assurance of punctual reporting and timely filings. Before we commence our engagement, our proficient accounting team will keep you well-informed about all the essential deadlines and expectations. Subsequently, we will proactively prepare all the necessary filings to guarantee compliance with the specified deadlines.

Annual Reporting Requirements

Typically, the financial fiscal year for a Brunei entity runs from 1 April to 31 March. Most companies incorporated in Brunei, including limited liability companies, are obligated to submit an annual financial statement. This filing is conducted through The System for Tax Administration and Revenue Services, a platform introduced by the Revenue Division of the Ministry of Finance. The deadline for this filing is set for 30 June of the assessment year. Additionally, companies are required to submit an estimated record of chargeable income returns within 3 months of their financial year-end.

Corporate Income Tax

Brunei’s corporate income tax rate stands at 18.5%. For non-resident companies, taxation applies to income sourced locally or profits earned directly from business operations within the country. However, free trade zone companies enjoy tax exemptions.

Sole proprietorships and partnerships are exempt from income tax.

Withholding Tax

There is no withholding tax imposed on dividends distributed to shareholders. However, director’s remuneration may be subject to a withholding tax rate of 20%. On the other hand, royalties paid to non-resident entities are subject to a 10% withholding tax rate.

It’s worth noting that Brunei has established various income tax treaties to prevent double taxation, which may result in reduced withholding tax rates on royalties under specific treaty agreements.

By partnering with Fionza Consultants, you can confidently navigate the accounting and tax landscape in Brunei, ensuring compliance with all regulations and optimizing your financial operations.
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Brunei, as an ASEAN member, enjoys robust political and economic connections with economies like Japan, Hong Kong, and Australia, benefitting from advantageous trade agreements. It is viewed as an appealing jurisdiction for conducting business.

In terms of corruption, Brunei ranks favorably at 35th out of 180 countries on the 2020 Corruption Perceptions Index by Transparency International, indicating a relatively low level of corruption.

The country’s political landscape is dominated by an absolute monarchy, with the Sultan serving as both head of state and government. Political participation is limited, reflected in a low political rights score of 7/40 on Freedom House’s 2021 Freedom in the World Index. Additionally, Brunei’s implementation of controversial Shariah laws, including the criminalization of homosexuality, has drawn international criticism.

Economic Considerations

Brunei boasts a robust economy, primarily driven by its substantial reserves of oil and gas, contributing significantly to its GDP.

The nation’s diversification efforts include a focus on the growing halal industry, which presents attractive opportunities for foreign investors. However, heavy reliance on oil exports poses a potential risk to economic growth, as highlighted in a Bloomberg report.

Social Considerations

While Malay is the official language in Brunei, English proficiency is widespread, particularly in education where English serves as the medium of instruction.

From a safety perspective, Brunei is considered a low-threat location for crimes, with crimes against expatriates being uncommon, making it a relatively safe environment for business operations.

Despite these advantages, Brunei faces a relatively high unemployment rate, standing at around 9.25%, according to Statista.

Technological Considerations

Brunei is actively working toward becoming a smart nation through its Digital Government Strategy, focusing on policies to guide its transition into a digital economy. Infrastructure upgrades, such as optic fiber and 4G networks, along with the development of an IoT-based network, are part of this initiative.

The nation has a strong internet penetration rate, reaching 95% of its population in 2019.

Legal Considerations

Brunei employs a dual judicial system comprising secular and Sharia courts, with Islamic law integrated into its legal framework.

Local legislation makes Brunei-based offshore companies exempt from local taxation schemes, making Brunei offshore company registration an attractive option for businesses.

The country places a strong emphasis on banking secrecy regulations, with Brunei’s bank secrecy rules ranking among the most stringent globally, according to the Tax Justice Network.

Environmental Considerations

Brunei has pledged its commitment to addressing climate change by signing The Paris Agreement in April 2016.

The nation actively participates in ASEAN Cooperation on Environmental Education, including initiatives like the ASEAN Plus Three Youth Environment Forum, aimed at raising environmental awareness among youth.

While Brunei does not face major environmental pollution issues, it is working on controlling air pollution, which is a growing concern, according to the Department of Environment, Parks and Recreation.
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[av_heading heading=’FAQ’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-2bz8ju’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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There are many good businesses to establish in Brunei given that it has access to natural and petrochemical resources, high level of internet penetration and high levels of education and literacy.

This has allowed business from agricultural, to oil refinery and production and high-tech information communication technology based businesses to all be good businesses locally.

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While there are no paid-up capital requirements when beginning a business in Brunei, Fionza Consultants will recommend setting aside at least US$5,000 as your paid-up capital to fund your overhead expenditures as well as initial deposit for corporate bank account opening.

As for Fionza Consultants’ engagement fees, this depends on the exact services required from Fionza Consultants. Our fees are inclusive of government fees and all fees will be clearly stated in our engagement letter prior to the start of the engagement. Fionza Consultants believes in transparency with our valued clients and there are no hidden fees.

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It offers low taxes and a stable socio-political environment. Even though its ranking on the World Bank’s Ease of Doing Business Index is considerably low at 66th, its individual ranking on the ease of starting a business is 16th, and it is the easiest location in the world to secure capital, making it a good place to do business.

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Yes, interested parties may apply for an account on the Registry of Companies and Business Names website.

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The nation uses the Bruneian dollar (B$).

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Yes, Singaporean currency is customary tender in Brunei due to the Currency Interchangeability Agreement of 1967. Likewise, you can use Brunei money in Singapore.

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Even though their official language is Malay, English is a recognized language and is thus widely spoken.

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Register Company in Brunei

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