Brunei Darussalam, officially the State of Brunei Darussalam or the Nation of Brunei, the Abode of Peace, is a sovereign state located on the north coast of the island of Borneo, in Southeast Asia. Apart from its coastline with the South China Sea, it is completely surrounded by the state of Sarawak, Malaysia, and in fact it is separated in 2 parts by Limbang, which is part of Sarawak. It is the only sovereign state completely on the island of Borneo, with the remainder of the island belonging to Malaysia and Indonesia. Brunei’s population is around 400,000.

Key Corporate Features

  1. Director
    • At least 1 Director, whether an individual or a company.
    • No restriction on the nationality of the Director.
  2. Shareholder
    • At least 1 Shareholder, whether an individual or a company.
    • No restriction on the nationality of the Shareholder.
  3. Share Capital
    • Minimum paid-up capital is USD1.
    • Standard authorized capital is USD1,000,000.
  4. Taxation
    • It is not required to pay income tax, capital gains tax, stamp duty or other direct tax.
    • Brunei Darussalam has a double tax treaty with Indonesia and a limited treaty with the United Kingdom, however tax credits apply to resident companies only. Brunei offshore companies will not qualify for tax benefits under these treaties.
  5. Reporting Requirement
    • There is no requirement to file audited accounts with the authorities.
    • However, an annual return has to be filed with the authorities.
  6. Time Taken to Incorporate
    • About 4 days
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