Begin Company Registration Services in Brunei Now
Get company registration services in Brunei as the country supports businesses and enterprises of every type to line up, operate and contribute to its economy. Despite its geographical size, Brunei is laden with bounties of all kind together with beguiling nature likewise as heat and respectful voters.
Why Set Up Business in Brunei?
It has a healthy economy and an abundance of oil fields. The individuals of Brunei area unit enjoying a decent life like free attention, well-established education system and cheap housing theme. Brunei has amicable governance and pleasant tropical weather. Operating a business in Brunei can leave you with a passion for peace and respect in every facet of living. It’s a peaceful country with lots of opportunities for everybody to explore and perceive the sweetness of Brunei. It’s conjointly a rustic that has twin jurisdiction that gives offshore facilities likewise as domestic business facilities.
Business Benefits for Company Registration in Brunei
Among the benefits that await entrepreneurs are tax exemption. Brunei also aids the development of micro, small and medium enterprises with a corporate tax exemption for gross sales not exceeding B$1 million per assessment year. For companies that do exceed the B$1 billion mark, they enjoy a competitive corporate income tax rate of 18.5%. The businesses delving in exports, should local sales does not exceed 20% of the total turnover. The companies will be taxed at a flat rate of one per cent. Export businesses are subject to the types of exports approved by the Brunei government. English is widely spoken in Brunei. Then, finding a local workforce to work for a foreign enterprise would be a piece of cake.
Business Set-Up Process
Once a potential entrepreneur is intrigued by the tax benefits of operating a business in Brunei, the entrepreneur would have to decide the type of business structure to set up in Brunei. The most common business set up in Brunei is a sole proprietorship, partnership and company which could be a private company or a public company. Once an individual has decided on what type of business entity to register as, registering a business in Brunei is now easier as one can do it online.
The process is also pretty straightforward. The business owner would have to create an account, filling up an application, uploading the necessary documents and making the required payment. Depending on the nature of the business, some businesses or enterprises require a letter of approval from the regulating authorities. For instance, someone is to set up a food and beverage business. Then, the business owner must obtain a Halal certificate. Also, opening a clinic would require approval and support letter from the Ministry of Health.
Get Professional Advice
It is best for potential business owners to seek professional advice from those who know the local atmosphere. Get in touch with us for Brunei company registration services or any relevant assistance.