Companies that are incorporated in Brunei Darussalam are governed by the Companies Act (Cap 39). Under the Act, four types of companies may be incorporated:

  • Companies limited by shares;
  • Companies limited by guarantee;
  • Companies limited both by shares and guarantee; and
  • Unlimited companies.

A private company must, by its constitution (Articles of Association), restrict the right of members to transfer shares, limit its membership to fifty and prohibit any invitation to the public to subscribe for shares or debentures.

Key Features of Brunei Private Company

Brunei Private Company

Corporate Details

General

  • Type of company

Private Company

  • Registered office and Agent

No

  • Company seal

Optional

  • Can bid government contracts

No

  • Shelf companies available

No

Directors

  • Minimum Number

One

  • Local representative

Yes

  • Disclosure of the beneficial owners¬† to the Registrar

No

Shareholders

  • Minimum Number of shareholders

Two

Other

  • Must file Annual Tax return

Yes

  • Must prepare accounts

Yes

  • Must File Annual Financial statements

Yes

  • Must appoint an Auditor

Yes

Advantages of Brunei Private Company

  • Brunei has a strong economy and currency
  • It offers several incentives for foreign Investments such as exemption of 30% of corporate tax for the period of up to 11 years.
  • Brunei has no personal Income Tax

The Valsen Advantage

  • Speedy, Efficient and consistent Services.
  • Relentless effort to obtain bank accounts.
  • Expert advice on structuring options.
  • Dedicated ongoing compliance support.