Check Out the Legal Process to Register Company in Brunei
With its healthy economy and ideal business environment, Brunei is an ideal country to invest in. The Company Act laws to register company in Brunei makes it easier for foreign and domestic investors to do so. Furthermore, each applicant can enjoy the business environment in Brunei no matter what type of company they incorporate.
Why Incorporate in Brunei?
Brunei presents the right business environment for any entrepreneur willing to invest in any form of business. The country boasts an oil-rich Sultanate on a well-educated population, robust infrastructure with an accelerating foreign investment. Brunei’s central location in Southeast Asia, controlled political environment and the low-tax regime are plausible reasons to invest.
If you’re looking to register company in Brunei, you can choose to dive to the economy’s different sectors. The government has flexible laws for any foreigner planning to do business in Brunei.
Which Lucrative Industries to Look at in Brunei
Brunei’s economy is a mix of foreign and domestic entrepreneurship. The jurisdiction prides as one of the highest per capita GDP in the world. Incomes from investment abroad supplement revenue from domestic hydrocarbon production.
Brunei’s government exempts its citizens from paying personal income taxes. Furthermore, the citizens have been enjoying both free medical services and education through the university level.
Approximately 65% of the country’s GDP emanates from natural gas and crude oil production with Japan being the key export market. A potential investor looking to register company in Brunei can venture in information and communications technology and halal manufacturing.
Some of the reasons that can attract any investor in doing business in Brunei include:
- Favourable tax policy
- Solid regional connections
- Political stability
- Robust oil & gas industry
Brunei enjoys unique business and cultural considerations that form a company’s experience in the country. Therefore, when you’re planning to start a business in Brunei, you must ensure you look into the following aspects:
- Visa policies
- Tax obligations
- Business registration
- Employment considerations
- Business etiquette
The Company Incorporation Process
Any wise business owner or entrepreneur will always seek the right information to register company in Brunei. Getting the correct information means making the proper application hassle-free. With foreign investors’ entry in Brunei, consulting the right business solution service provider such as 3E Accounting is essential.
Here are some of the professional services likely to experience:
- Auditing and accounting services
- Incorporation of the company
- Corporate secretarial services
- Business license renewal services
- Legal and taxation services
If you require credible business solution services, we’re a contact away from your mobile phone.
Let’s get to the process that would require you to register a company in Brunei.
- Company Name Search and Approval
Every company must operate under a legal name. Any applicant who wants to register company in Brunei must have proposed names that suit the business’s nature. The Registrar of companies then approves the company name. If an applicant is incorporating a non-profit company ( limited company), it must have the word ‘Berhad’ (Bhd in short) at the end. When it’s a private company, then the word ‘Sendirian’ or ‘Sdn’ must come before “Berhad’ or ‘Bhd.’
- Submission of Statutory Documents
To register company in Brunei, the applicant must prepare all the statutory documents for submission to the Registrar. The following are some of the documents the applicant must submit:
- Articles of Association
- Names of directors along with endorsed consents
- Statutory declaration of compliance
- Address of the registered office
- Duplicates of the Identity cards and passports of shareholders
- The applicant pays the registration fees before applying online.
- The Registrar examines the statutory documents before issuing the certificate of incorporation through email within a single working day.
Applicants who are finding it challenging to register company in Brunei can consult 3E Accounting for professional services. You can get in touch with us through our email or over the phone and call for assistance.