How To Register Small Business In Brunei
You can now register a business or incorporate a company online in a single step.
How to register small business in brunei. 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. 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. Brunei free zone companies are usually conducting repackaging or light manufacturing activities for products then re exported in malaysia indonesia philippines and singapore. 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. The registry of companies and business names would like to apologise as the registry is currently assessing our standard operating procedures sop.
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. Such companies can benefit from up to 15 years of tax holidays. How do i register my business is one of the most commonly asked questions from new small business owners. 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.
Foreigners can register limited liability companies in the single free trade zone of brunei the pulau muara besar free trade zone. A business owned by one person that person being 18 years or older and a citizen or permanent resident of brunei. 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. 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.
Business registration typically involves several checklist items including registering your business structure. Register your business to make it a distinct legal entity. 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. Capital 100 0 darussalam east asia pacific doing business 2020 brunei darussalam.