Sole-ProprietorshipBrunei
What it takes to form, own and run a sole trader 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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Age 18 years or above. Brunei Citizens and Permanent Residents only.
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Sole proprietorship or partnerships registered as Business Names.
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
Not in our records A notary, A resident director, Paying up the capital: none of these is in our records for the Sole-Proprietorship.
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 1 · at most 1 · one person may form it alone
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Age 18 years or above. Brunei Citizens and Permanent Residents only.
- A local company secretary
- Does not apply
- A local registered agent
- Not stated
The registry’s and the law’s own pages do not mention it.
Each year, at the registry
Not in our records Annual registry fee, Accounts on the public record, Audit for a small company, Audit: none of these is in our records for the Sole-Proprietorship.
Important dates
When each obligation falls due, as the authority states it.
Not in our records No dates for the Sole-Proprietorship are in our records.
What is public
Not in our records What the register shows the public is not in our records for the Sole-Proprietorship.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
No tax on profit · 0%
No corporate or personal income tax is levied on sole proprietorships or partnerships registered as business names, nor on personal income (Ministry of Finance corporate-tax FAQ).
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Sole proprietorship or partnerships registered as Business Names.
- CFC rules in Brunei
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
Not in our records Route, Statutory fee: none of these is in our records for the Sole-Proprietorship.
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
- Sole traderDerived our grouping, the same words in every country
- Name in law
- Sole-Proprietorship
- ISO 20275 code
- VHOWSecondary GLEIF, Entity Legal Forms code list