Brunei - Establishing an Office Brunei - Establishing an Office
There is no restriction on total foreign ownership of companies incorporated in Brunei Darussalam. The Companies Act requires locally incorporated companies to have at least one of the two directors—or if more than two directors, at least two of them—to be ordinarily resident in Brunei Darussalam. The Companies Act allows the board to be totally non-resident; however, the company concerned would have to apply to the appropriate authorities for permission and justify such a decision. Notwithstanding whether the company is locally or foreign owned and managed, the rate of corporate income tax is the same.
All businesses in Brunei must be registered with the Registry of Companies and Business Names at the Ministry of Finance and Economy. Except for sole proprietorships and partnerships, foreign investors can fully own incorporated companies, foreign company branches or representative offices. FDI from multi-national corporations may not require a local partnership in setting up a subsidiary of their parent company in Brunei. However, at least one company director must be a Brunei citizen or permanent resident in Brunei Darussalam.
More information on incorporation of companies can be found on the Ministry of Finance and Economy’s website.
The Authority for Info-Communications Technology Industry (AITI) offers assistance to local ICT small- and medium-sized enterprises (SMEs) to connect with potential ICT partners and customers. The AITI website provides additional information on these services.