Brunei

Brunei

Official Name:   The Nation of Brunei, the Abode of Peace

                Bandar Seri Begawan

          Malay

             Brunei dollar (BND)

 

OUR SERVICES;                      

  • Consultation (in person, online, phone)
  • Helping to prepare your documents
  • Start to finish your company registration process
  • Immigration services

Brunei

The country of Brunei is located in eastern Malaysia (Sabah and Sarawak) on the northwest coast of Borneo and, is bounded on the north by the South China Sea and on the west and east by the state of Sarawak. Brunei is best known for the name of the Brunei king and his legendary wealth. It is located on the northwest coast of Borneo and has a hot and humid tropical climate. Brunei is made up of two coastal enclosures. The (larger) western part is hilly; The eastern land is mostly mountainous and forested.
Brunei is divided into four provinces, which also include 38 cities.
The four provinces of the country are: Brunei-Muara, Belait, Tutong, Temburong.
Its main river is Brunei, and the country’s highest point is the Bukit Pagon (on the Malaysian border) at an altitude of 1850 meters. Annual rainfall varies from 250 cm on the coast to 500 cm in the mountains.
Brunei’s economy is based on exports of oil, timber, rubber and natural gas to Japan. Extraction of abundant oil and natural gas reserves has made Brunei one of the highest per capita incomes in the world, most of the country’s food needs are supplied and imported.

General Questions 

How long does it take to register a company in Brunei?
21 weeks

What is the authorized capital for registering a foreign company?
One million dollars

How much does it cost to register a company in Brunei?
About $ 19560

Is Brunei also tougher on foreigners?
Islamic law is practiced in Brunei. You are not allowed to drink alcohol or eat pork in any public place.

What are the advantages of getting a Brunei passport?
Brunei’s passport is also the only one in the world that allows visa-free access to China, Russia, the Schengen area, the United Kingdom and the United States, which are five permanent members of the UN Security Council. Brunei is also the only Muslim-majority country in the world to allow citizens to enter the United States without a pre-arranged travel visa.

Does the citizenship of the previous country have to be revoked in order to obtain the citizenship of Brunei?
Yes. Brunei does not accept citizenship of two countries at the same time.

Is it possible to obtain a residence permit in Brunei with the birth of a child?
Birth in Brunei does not automatically grant citizenship.

The benefit of company registration in Brunei

  • Has economic stability and currency stability
  • Having agreements with 15 countries in the field of economic trade and reduction of customs tariffs between them
  • Government incentives for foreign investment such as lower corporate income tax, import tax exemption for certain goods and raw materials and machinery
  • Register a company online quickly and easily
  • International offshore companies are not taxed in Brunei.
  • It is not mandatory to submit an audited financial statement.
  • Complex and comprehensive financial structures
  • There is no agreement on the balance of information with other important countries in the world

The disadvantage of company registration in Brunei

  • In December 2014, the Brunei government completely shut down all offshore and foreign companies to support domestic companies and businesses, and this action of the government destroys the trust of foreign investors and distrust in the business and judicial practice of Brunei.
  • A number of countries, such as Canada and France, have been removed from the list of customs exemption contracts, but a number of European countries, such as Portugal and Colombia, are still bound by the agreement.

Type of company in Brunei

  • Resident LLC
  • Brunei PL
  • Foreign Branches
  • Free zone LLC

The company registration process

  • Register a name for the company electronically and get its confirmation
  • Pay administrative fees for name verification
  • Preparation and regulation of articles of association (name, type of company, goals of the company, names of shareholders, amount of shares, names of managers)
  • Opening a bank account at HSBC Bank Brunei and transferring capital to the company account
  • Applying for a residence permit in Brunei online or at the Brunei Embassy
  • File a tax return in Brunei and obtain a tax code for the company