BRUNEI

To set up an offshore company in Brunei

Establishment of an offshore company in Brunei: forms of business conduction, list of documents and the process of registration. On-line and off-line registration of offshore firms in the sultanate!
Benefits of an offshore in Brunei
The full name of the Sultanate of Brunei is Negara- Brunei Darussalam. It is located on the Kalimantan island which lies in South-East Asia. The state is famous for its wealth and people`s income. Such wealth is due to oil production in Tutong as well as by huge forests that take about 75% of the area.
An offshore company in Brunei: specific details and types
Offshore firms within the Sultanate are not charged any taxes that allow decreasing costs of an entrepreneur. However, companies shall submit audit and accounting reports. The only exception is the possibility to refuse from the bank and insurance license.

The state offers 5 basic forms of business conduction:

  • Individual enterprise. Such enterprises are exempt for the corporate tax. Concerning the registration process: the owner is granted the Certificate specifying the name of the firm.
  • Partnership. This form of business implies involvement of foreign, local companies and individuals. It is allowed to join up to 20 partners and they are exempt from taxes.
  • A closed company can be a limited liability company or an unlimited company. The company shall have 2 - 50 shareholders that can be non-residents of the sultanate. The only specific aspect is the tax that amounts to 30% of the income.
  • An open company can also be a company with a different liability status and at least 7 directors. However, half of the directors shall mandatorily be citizens of the sultanate, the same requirement is set for auditors.
  • Affiliates of a foreign firm. An offshore company in Brunei can be set in the form of an affiliate. To set up a firm like that one shall have one or more shareholders residing within the jurisdiction and having authority in the affiliate.
After the form of incorporation is chosen, an offshore company can be set up.

The process of registration and documents preparation
To set up an offshore in Brunei, businessmen shall have the following documents:

  • copies of owners, shareholders passports;
  • Letter of Recommendation issued by the bank;
  • copies of utilities bills to confirm the place of residence
Please call us or leave an application, and we will take care of all the troubles related to an offshore company registration!