How to Register a Sole Proprietorship in Brunei

Do you want to register a sole proprietorship in Brunie? Here is everything you need to know about the registration process and the taxation system.

Anja Simic
Written by Anja Simic
August 12, 2021
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The Nation of Brunei is a country placed on the northern seashore of Borneo's island in Southeast Asia. Among the Southeast Asian countries, Brunei has the second-highest human development index, and it is the fourth-highest oil producer in Southeast Asia. Brunei is accessible by air, sea, and land transport. 

Disclaimer: Be aware that this article is not a substitute for legal advice. Please always check official websites or seek legal advice before you take action.

Sole proprietorship in Brunei

The simplest form of business in Brunei is the sole proprietorship. This type of business entity isn't subjected to corporate tax. The owner of a sole proprietorship is fully responsible for the business's debts and liabilities. There is no difference between the owner and the manager. 

How to register a sole proprietorship in Brunei

The registration process is very simple and straightforward, and it takes no longer than a week.

Business registration

First of all, you should request activity approval from the Ministry of Finance and Economy and then check the availability of the business name. To do that, you can create an account at the site above. You should fill an online form and provide all the required information:

  • ID 
  • Emails and contact information 
  • Consent to act as director form 
  • Form X 
  • Memorandum and Articles of Association signed

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Open a bank account

The next step is to open a bank account and make online payments at ROCBN. After that, you will receive an email with a business certificate. 

Taxation system in Brunei

Brunei has the smallest amount of taxes in the area. There is no personal income tax, and there are no export, sale, payroll, or manufacturing taxes.

A business citizen in Brunei is subjected to income tax on its income received from or gathered in Brunei. A non-resident business owner is only charged on its income occurring in Brunei. 

​For the first B$100,000, the tax rate is at 18.5%, and there is no VAT.

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