How To Register Small Business In Brunei

Arguably the simplest form of a business entity sole proprietorships are quick to set up carry less administrative duties and do not pay corporate tax.

How to register small business in brunei. Therefore the registry may exceed our client s charter tpor in approving applications. Business registration typically involves several checklist items including registering your business structure. Overview of business in brunei a small nation on the island of borneo brunei is an oil rich sultanate in the middle of southeast asia. Setting up a business can now be done online in a single step upon creating and logging into your account at www roc gov bn. Doing business 2020 brunei darussalam improves its ease of doing business score from 69 6 to 70 1 in world bank s doing business report 2020 continue reading.

Incorporation of a company or registration of a business name. How and where you need to register depends on your business structure and business location. Please call our general helpline 673 2380505 for more information. What most new business owners don t realize is that registering your business isn t simply a matter of taking a trip to your local county offices and you re done. By the 24 th december 2017 all brunei ibcs as well as brunei offshore companies were fully closed as declared by the brunei registry the brunei government took this step in order to promote and protect the local businesses in brunei.

Brunei free zone companies are usually conducting repackaging or light manufacturing activities for products then re exported in malaysia indonesia philippines and singapore. Register your business to make it a distinct legal entity. A business owned by one person that person being 18 years or older and a citizen or permanent resident of brunei. Capital 100 0 darussalam east asia pacific doing business 2020 brunei darussalam. As a result all the foreign investors had to shut down or sell their businesses thereby reducing the foreign investor s confidence and reliance over this.

Starting a business brunei darussalam figure starting a business in brunei darussalam score procedures 85 3 time 95 0 cost 99 5 paid in min. The registry of companies and business names would like to apologise as the registry is currently assessing our standard operating procedures sop. You can now register a business or incorporate a company online in a single step. How do i register my business is one of the most commonly asked questions from new small business owners.