How To Register Small Business In Brunei

Business registration typically involves several checklist items including registering your business structure.

How to register small business in brunei. The registry of companies and business names would like to apologise as the registry is currently assessing our standard operating procedures sop. 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. 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. 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. With a small population of less than half a million people brunei is very dependent on its well developed oil and gas industry and aims at the diversification of its economy.

Incorporation of a company or registration of a business name. Register your business to make it a distinct legal entity. 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. 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. Such companies can benefit from up to 15 years of tax holidays.

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. 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. Foreigners can register limited liability companies in the single free trade zone of brunei the pulau muara besar free trade zone. 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. 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. Please call our general helpline 673 2380505 for more information. A business owned by one person that person being 18 years or older and a citizen or permanent resident of brunei. Therefore the registry may exceed our client s charter tpor in approving applications.