Public Company Sdn BhdBrunei
What it takes to form, own and run a public limited company in Brunei, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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Where shares in a company are held by a nominee, such nominee shall disclose the identity of each person on whose behalf those shares are held.
The registry’s and the law’s own pages do not mention it.
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at the rate of 18.5% of the chargeable income of every company
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Yes
What it takes to form
- A notary
- Not stated
The registry’s and the law’s own pages do not mention it.
- A resident director
- Required
- Paying up the capital
- Not in our records
Own it
Who may own and run it
- Directors
- At least 2 · one must live there · individuals only
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Minimum of 2 directors.
- Shareholders
- At least 7
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Where shares in a company are held by a nominee, such nominee shall disclose the identity of each person on whose behalf those shares are held.
- Members
- At least 7
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Any seven or more persons or, where the company to be formed will be a private company, any two or more persons
- A local company secretary
- Not stated
The registry’s and the law’s own pages do not mention it.
- A local registered agent
- Not required
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A company shall, as from the date of its incorporation, have a registered office within Brunei Darussalam
Each year, at the registry
- Annual registry fee
- BND 50
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On lodging any annual return of a company
- Accounts on the public record
- Yes
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Except where the company is a private company, the annual return shall include a written copy, certified by a director or the manager or secretary of the company to be a true copy, of the last balance sheet
- Audit for a small company
- Required
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Every company shall at each annual general meeting appoint an auditor or auditors to hold office until the next annual general meeting.
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
Not in our records No dates for the Sdn Bhd are in our records.
What is public
- Directors
- Public
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be open to the inspection of any member of the company without charge and of any other person on payment of $1
- Shareholders
- Public
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be open to the inspection of any member of the company without charge and of any other person on payment of $1
- Beneficial owners
- To the authorities only
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be open to the inspection of any member of the company without charge and of any other person on payment of $1
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Varies · 18.5%+7 regimes
18.5% of chargeable income of every company (Ministry of Finance FAQ). Threshold relief under Income Tax Act s.35(4): first $100,000 of chargeable income at 25% of the applicable rate, the next slice at 50% (the page words the next slice as $150,000 and as $100,001 to $150,000, so its upper limit is not recorded); newly incorporated companies get the first $100,000 exempt for 3 years of assessment (s.35(5)). Oil and gas production 55%. Sole proprietors, partnerships and personal income are not taxed.
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at the rate of 18.5% of the chargeable income of every company
Special regimes that may apply
- Pioneer enterprise — tax relief (Investment Incentives Order, 2001, Part II) other · 100% exempt
A company certified as a pioneer enterprise for a declared pioneer industry and pioneer product Investment Incentives Order, 2001 (S 48/2001), sections 6 and 14 - Pioneer service company — tax relief (Investment Incentives Order, 2001, Part III) other · 100% exempt
A company certified as a pioneer service company in respect of a specified qualifying activity Investment Incentives Order, 2001 (S 48/2001), sections 19 and 20 (applying sections 8 to 16) - Post-pioneer company — concessionary rate (Investment Incentives Order, 2001, Part IV) other
A company approved as a post-pioneer company, in respect of its qualifying activities Investment Incentives Order, 2001 (S 48/2001), sections 22 and 23 - Expanding enterprise — tax relief (Investment Incentives Order, 2001, Part V) other
An established enterprise holding an expansion certificate for an approved industry and product Investment Incentives Order, 2001 (S 48/2001), sections 32 and 34 - Export enterprise — tax relief on export profits (Investment Incentives Order, 2001, Part VII) other · 100% exempt
A company holding an export enterprise certificate, in respect of qualifying export profit Investment Incentives Order, 2001 (S 48/2001), sections 42 and 49 - International trading company — export income relief (Investment Incentives Order, 2001, Part IX) other · 50% exempt
An international trading company certified under Part IX, in respect of qualifying export income Investment Incentives Order, 2001 (S 48/2001), sections 65 and 69(2) - Exemption of non-resident shipowners and air transport operators (Income Tax Act, section 10(1)(l)) other · 100% exempt
A non-resident carrying on the business of shipowner or charterer or of air transport, where the Collector is satisfied that the country of residence grants an equivalent exemption to Brunei residents Income Tax Act (Chapter 35), section 10(1)(l)
Whether a company qualifies depends on its activity and conditions set in each statute.
- CFC rules in Brunei
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Strike-off on the company's own application to the Registrar (Companies Act Cap. 39 s.287B: made by the directors or a majority of them, 30-day letter, Gazette notice and 60 days, dissolved on Gazette publication of the strike-off), or winding up under the Insolvency Order.
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287B. (1) The Registrar may, on the application by a company and on payment of the prescribed fee, strike the company's name off the register
- Statutory fee
- Not in our records
Every business in Brunei
VAT
- VAT or sales tax
- None levied
The Revenue Division of the Ministry of Finance and Economy administers income tax, withholding tax and stamp duty; its list of taxes contains no VAT, GST or general sales tax, so levied is recorded as no. Customs import and excise duties exist but are not a consumption tax on domestic supplies.
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Type of Taxes Income Tax ... Stamp Duty
Payment and banking services
None of the services whose lists we hold names Brunei. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Public limited companyDerived our grouping, the same words in every country
- Name in law
- Public Company (Sdn Bhd)
- ISO 20275 code
- 2DGOSecondary GLEIF, Entity Legal Forms code list