The Islamic Sultanate of Brunei Darussalam is situated on the northwest coast of the island of Borneo and on the coastline of the South China Sea with its boundary attached to the Malaysian state of Sarawak. Brunei’s political system is based on the country’s written constitution and the tradition of the Malay Islamic Monarchy. Supreme executive authority vests in the Sultan.
There is no exchange control and no restrictions on the movement of funds to or from Brunei.
The type of company incorporated is International Business Company (IBC). An IBC has the power to perform all acts and engage in all activities necessary to the attainment of the object of IBC subject to the provisions in the order. However, an IBC cannot trade or own real estate within Brunei or undertake banking, insurance, investment advice or management of mutual fund business unless licensed to do so under appropriate orders. It cannot invite investments from public unless the Registrar has given prior written consent.
IBC does not pay income tax, capital gains tax, stamp duty or other direct tax.
Double Taxation agreements
Brunei has a double tax treaty with Indonesia and a limited treaty with the United Kingdom, however, tax credits apply to resident companies only. An IBC will not qualify for tax benefits under these treaties.
Only one shareholder is required whose details are not maintained on public records. Registered shares, preferential shares, redeemable shares and shares with or without voting rights are allowed. Disclosure of Beneficial ownership to the Authorities is not required.
Minimum number of directors is one. They could be of any nationality including corporate directors. Details of the director are not available for public inspections.
There is no requirement to file accounts with the registrar or do audits.
Incorporation time is in the order of ten to twelve days. We do have ready-made companies on stock.
Name of a company should end with Limited, Corporation, Incorporated, Societe Anonyma, Sociedad Anonima, Berhad, Sendirian Berhad, Gesellschaftmitbeschrankter Haftung, or their relevant abbreviations.
Names Requiring consent or License
Any name that is identical or similar to an existing company, or any name that suggests the patronage of His Majesty the Sultan and Yang Di-Pertuan or that of a member of the Royal Family, the Government or local authority of Brunei or other country. The word Brunei shall only be used appearing in brackets.
Names containing the words- Royal, Bank, Building Society, Insurance, Assurance, Trust Company, Trustee Company, Chamber of Commerce, Chartered, Cooperative, Imperial, Municipal or a word conveying a similar meaning.
Registered Office and company secretary
A Brunei company MUSTmaintain a registered office address within the Brunei and must also appoint Brunei resident as the company secretary. Our charges are inclusive of these services.
REGISTRATION AND MAINTENANCE FEES
Our registration fee for a company with a share capital less than USD1,000, 000 is USD1450. The fee covers first year license fee, first year registered agent fee and first year charge for the provision of registered office. If there is a Chinese name in addition to the English name, there is an additional charge.
The registration fee covers initial set up and first year maintenance costs. Practically, it represents all the costs incurred in the first year.
Annual Maintenance Fee
Annual maintenance fee for second year and thereafter is USD950, which covers annual license fee, annual registered agent fee and annual registered office fee.
Documents and Information required:
1. Name of the proposed company
2. A Photocopy of the passport of each director and shareholder
Documents Given to the Clients after Registration
1. Original copy of Certificate of Incorporation
2. Two (2) copies of Memorandum and Articles of Association
3. Original singed Memorandum of the Registered agent appointing the First Director(s)
4. Original Instrument of Transfer
5. Consent to act as director(s)
6. First Board Resolutions
7. Application of allotment of shares
8. share certificates
9. Register of Members /Directors / Secretaries
10. Chop and Seal
Payment Term and Payment Methods
Upon receipt of your order, we will issue an invoice to you for your settlement. We require full payment in advance.
We accept cash, TT and Hong Kong Dollar check and credit card (by Paypal). Please click here for payment methods.