Brunei

Brunei or officially know the Nation of Brunei, the Abode of Peace is located on the north coast of island Borneo. A sovereign state that gained independence in 1971 from the UK. Most of its economy is built on the export of crude oil and natural gas in the Liquefied form. They also are a large exporter of honey and honey related products, fishes and fish products, fruits and rice.The official language of Brunei is Malay, although English and Chinese are also used. The official currency is Brunei dollar.

Facts about companies in Brunei and their incorporation

The registration fee for incorporation in Brunei is 500$, for any size of a IBC share capital.


The usual incorporation times are 2-3 business days, company names can be registered before incorporation and they may stay reserved as long as 2-3 moths. Shelf companies are also available.

The director of a company may be of any residency, and the board meetings and shareholder meeting may take place any where in the world.

Company upkeep

The usual fee for a company in Brunei is 400$ and it has to be paid every year by the date of company registration. There is no requirement to file audited accounts with the government but a company should always keep a record so that they can be opened for inspection by a director and to be able to reflect the financial position of a company.

Shares

Bear shares are not permitted. All shares of a company must be registered, they may be with or without par value. There is no minimum share value, but usually at least shares of 1$ are registered. The shares may be of any currency, but I strongly suggest to use US dollar. The shareholder may be of any residency and the minimum amount of shareholders is one.

Taxation

International business companies are free form the following forms of taxes:

• Income tax
• Capital gains tax
• Stamp duty
• Any other direct tax

Brunei has the highest human development index in Association of Southeast Asian Nations (ASAN), and also the one of the highest quality of life, GDP and one of the best tax regime in ASAN. Taking all of that in to consideration in 2014 a law took place in Brunei that allows stoning(the trowing of stones at a person until the death), if facts like these are of no interest for you, then Brunei may be a place of incorporation for you.