Brunei is an ideal country for starting a new business since it has a healthy economy that has been growing steadily over the past two decades. Its inflation rate has remained low at 1.5%, and the taxation system is also very favourable for investors. There is no tax on personal income, capital gains, sales, manufacturing, payroll, or on exports. The process of company registration in Brunei has been made convenient and quick for new investors and can be done in a single day.
Company Registration Processes in Brunei
The Companies Act, 1984 governs all company formation and registration processes in Brunei. The Registry of Companies and Business Names (ROCBN), the ministry of finance is the responsible authority.
The Benefits of Company Registration in Brunei
– Your company will become a legal entity which will make you more trustworthy to clients
– You will get more funding options
– Your brand value will increase
– There will be tax gains for you
– You will legally become the owner of your business
– You can market your products and services
– Other businesspeople cannot use your firm name
– If you are a foreign investor, you will get total ownership and control
You need to decide about what kind of entity you are going to register as since each business structure has different requirements and implications.
You can choose a business entity from the following types of companies:
– Limited liability company
– International limited partnership
– Free Zone company
– Public limited company
– Sole proprietorship
– Branch or agent office of an outside organization
Company Registration in Brunei in Easy Steps
1. The first step is to get the company name approved by the registrar of companies. A limited company that is not a non-profit company must have the word ‘Berhad’ (Bhd in short) at the end. If the company is private, then the word ‘Sendirian’ or ‘Sdn’ must come before ‘Berhad’ or ‘Bhd’.
2. Next, submit the required documents to the registrar (Articles of Association, Memorandum, Names of directors along with signed consents, Statutory declaration of compliance, Address of the registered office, Duplicates of the identity cards and passports of shareholders)
3. The required registration fees are paid, and the application is submitted online
4. The registrar examines all documents and after verifying issues a certificate of incorporation through email in a single working day.
How we can help you
If you are considering forming a business or you need expert help with company registration in Brunei, LegalGenius™ is ready to assist you with its skilled team of lawyers, consultants and tax experts. We are committed to making the process as stress-free and streamlined as possible for you, and we will take care of all your document preparation and administrative tasks regarding the registration forms, payment of government fees, local address registration, banking support, etc., whilst always keeping your exact objectives and unique vision in mind throughout the process.
Please use our Company Formation Wizard if you would like to set up your registered company in Azerbaijan or if you would like to know the costs involved prior to proceeding with our exceptional services. For other queries and special requests for complex or customised company formation services, please contact us at legal@7geniusgroup.com