Cost of registration | The cost of the second year | Number of Directors | Corporate tax rates | Payment of Charter Capital | Financial statements |
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22500.00 USD | 15000.00 USD | 1 | 18.50% | 0.00 | Yes |
Negara Brunei Darussalam or the Islamic Sultanate of Brunei Darussalam known as the Nation of Brunei, the Abode of Peace is a Southeastern Asian country on the north coast of the island of Borneo. It is bordered by the South China Sea and Malaysian territory. The capital of Brunei is Bandar Seri Begawan and the nation of Brunei is home to over 400,000 people. The nation’s official language is Malay but English is also a recognized official language (in the field of business and the language of instruction in the educational system), other languages include Chinese and Arabic. The official currency is the Brunei dollar (BND). The government of Brunei is that of Unitary Islamic absolute monarchy. The Companies Act of 1984 governs the company registration and formation activities in Brunei. The authority responsible for company formation and registration in Brunei is The Registry of Companies and Business Names (ROCBN), Ministry of Finance. Benefits of Company Formation in Brunei
Business in Brunei: Taxation
Business in Brunei: Types of Companies
All certified and translated documents, if necessary into the English language are to be submitted to the Registrar of Companies. Bookkeeping in Brunei
Companies are required to submit financial statements annually. In a case, where the company have licenses like that of insurance or banking, it is not obliged to submit auditing and accounting reports. Company Formation Requirements
How to Register a Company in Brunei: The Registration ProcessStep 1. Law and Trust works with the client to get the company’s name and activity approval from the ROCBN; Step 2. Law and Trust works with the client to secure the Memorandum of Association (MOA); Step 3. Law and Trust collects, prepares and files the necessary incorporation documents on behalf of the client to the relevant authorities for approval; Step 4. Law and Trust works with the client to open a corporate bank account in Brunei; Step 5. Law and Trust deliver the certificate of incorporation personally to the client or via courier service. Brunei Company Formation FAQsHow long does it take to complete the company formation process in Brunei? It takes from twelve weeks to complete the company registration process in Brunei. How much does it cost to register a company in Brunei? The cost of registering a company in Brunei is US$22500, the total cost includes the preparation of legal documents, company registration, payment of all taxes and fees at the time of registration and legal address for the company (a year). Does a Brunei company have to file accounts or financial tax return statements? Yes, It is mandated to file accounts and financial tax return annually, but it is not necessary for audit requirement. Does a Brunei company need a legally registered office and registered agent? A company registered in the Sultanate of Brunei must have a legally registered office and agent. Why Incorporate with Law&Trust International?Benefits of company registration, formation, and incorporation services with Law&Trust International in Brunei includes: Full range of related services: Provision of a full range of legal, corporate, government, and business intelligence related services in Brunei. A detailed overview of our services includes full legal support of the company registration procedure, obtaining a legal address, interaction with the official government authorities of the jurisdiction, state fees, legal address of the company for a year, production and registration of company stamps and advising the client as part of the registration process. Opening a bank account and the cost of these services are discussed during the consultation. Professionals and expertise of Law: Worldwide registration and legal maintenance of companies, accounting services, and audit, tax planning and optimization, trademark and patent registration. Law and Trust provide clients with the best company incorporation services. Domestic service: Law&Trust ensure our services cover every region in Brunei. Be rest assured that no matter where the new company intends to incorporate in Brunei, we’ve got the location covered. Free initial advice: Free consultation from the lawyers of Law&Trust International regarding strategies or the provision of services for analyzing and developing a legal position on an issue the client raises in Brunei. Confidentiality: Law&Trust makes use of modern technological features to keep the records and details of every client safe. Efficiency and productivity: Strategically providing up to date personalized services to help your business succeed. Ready for Company Incorporation?If you are interested in registering and incorporating a company in Brunei, contact Law & Trust International by simply sending an email or call now to take your business to the next level! |
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Square | 5 765.00 |
Population | 408 786.00 |
Capital | Bandar Seri Begawan |
Unemployment | 3.70 |
Telephone code | 673 |
Place in the world in corruption | 44 |
location | Southeastern Asia, bordering the South China Sea and Malaysia |
Climate | Tropical; hot, humid, rainy |
Literacy rate | 92.70% |
USD exchange rate | 1.26 |
GDP per capita | 9 |
Credit rating | N/R |
The judiciary | The 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 authority | Head 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 authorities | Legislative council, appointed by the Sultan, 29 members |
Opportunity to purchase ready-made companies | Yes |
The use of the Cyrillic alphabet in the name | No |
Local registered office | Yes |
Organizational and Legal Forms | International 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 name | Limited or Ltd |
Local registered agent | Yes |
Standard currency | USD |
Bearer shares | No |
The usual size of the authorized capital | US$50,000 |
Possibility to issue shares without par value | No |
VAT | No |
Basic corporate tax rate | 18.50% |
Capital gains tax | No |
Currency control | No |
Corporate tax rates details | International Trading Company (IBC) is tax exempt. Updated February 2018: Rate for oil and gas companies is 55%. |
Stamp duty | No |
Minimum number of directors | 1 |
The requirement for residency directors | No |
Director of legal entities are allowed | Yes |
The data reveals to the local agent | Yes |
Data field to the public registry | No |
The requirement for the presence of the Secretary | Yes |
Requirement to the residense of the Secretary | Yes |
Requirements to qualification of the Secretary | No |
Legal entity as the Secretary | No |
Minimum number of shareholders | 2 |
Data is entered in the public register | No |
Shareholders residency requirement | No |
Information about the beneficiary is disclosed | No |
Information may be disclosed to the local agent | No |
Shareholders-legal entities are acceptable | Yes |
The requirement for filing reports | Yes |
Open access to reports | No |
Statutory audit | No |
The requirement for filing Annual Return | No |
Open access to the Annual Return | No |
The requirement for reports | Yes |
Treaty on avoidance of double taxation (States which signed) | 12 |
Membership in the OECD | No |
Is it offshore according to Russian legislation | No |
TM Comprehensive Study | TM Registration Request | TM Registration Certificate | Total | ||||
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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. |