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Ease of Doing Business in

Brunei Darussalam

Brunei Darussalam Download Profile (1797.5KB, pdf)
Region East Asia & Pacific
Income Category High income
Population 423,188
GNI Per Capita (US$) 24,892
City covered Bandar Seri Begawan

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 72 97 up
25
65.51 60.28 down
5.23
Starting a Business 84 75 down
9
86.72 86.76 down
0.04
Dealing with Construction Permits 37 33 down
4
76.06 76.46 down
0.40
Getting Electricity 21 76 up
55
87.57 71.79 up
15.78
Registering Property 134 135 up
1
50.65 50.65
-
Getting Credit 62 78 up
16
60.00 50.00 up
10.00
Protecting Minority Investors 102 118 up
16
51.67 45.00 up
6.67
Paying Taxes 89 96 up
7
72.43 70.69 up
1.74
Trading across Borders 142 143 up
1
57.69 56.88 up
0.81
Enforcing Contracts 93 115 up
22
57.25 53.54 up
3.71
Resolving Insolvency 57 97 up
40
55.11 41.05 up
14.06

Positive=Doing Business reform making it easier to do business. Negative=Change making it more difficult to do business.

DB 2017 Rank: 84

DB 2016 Rank: 75

Change in Rank: down9

DB 2017 DTF (% points): 86.72

DB 2016 DTF (% points): 86.76

Change in DTF (% points): down0.04

Standardized Company
Legal form: Private Limited Company
Paid-in minimum capital requirement: BND 0
City: Bandar Seri Begawan
Indicator Brunei Darussalam East Asia & Pacific OECD high income
Procedure – Men (number) info_outline 7.0 7.0 4.8
Time – Men (days) info_outline 14.0 23.9 8.3
Cost – Men (% of income per capita) info_outline 1.6 19.0 3.1
Procedure – Women (number) info_outline 8.0 7.1 4.8
Time – Women (days) info_outline 15.0 23.9 8.3
Cost – Women (% of income per capita) info_outline 1.6 19.0 3.1
Paid-in min. capital (% of income per capita) info_outline 0.0 12.3 9.2
  • No. Procedure Time to Complete Associated Costs
    1

    Obtain permission from husband to leave home in order to start a business

    Agency: Domicile

    According to the Islamic Family Law 61, subject to Hukum Syara’ and confirmation by the Court, a wife shall not be entitled to maintenance when she is nusyuz or unreasonably refuses to obey the lawful wishes or commands of her husband, including...(b) when she leaves her husband’s home against his wishes.
    1 day no charge
    2

    Check uniqueness of company name and reserve the name

    Agency: Registry of Companies and Business Names Division (ROCBN), Ministry of Finance

    Entrepreneurs can search by accessing www.roc.gov.bn for the availability of names by themselves. As of December 31, 2014, the online system has been able to support the payment for the name reservation. The process involves, typing in the names of the proposed companies, uploading the ID documents of the owners. The staff of the RoC reviews the forms with the ID and submits the approval. The name reservation will be valid for 30 days once company name is approved.
    1 day on average BND 5 for name application + BND 15 for name reservation
    3

    Submit incorporation documents and pay registration fees

    Agency: Registry of Companies and Business Names Division, Ministry of Finance

    The Registry of Companies issues a certificate of incorporation, two certified copies of the memorandum and articles of association, and registration forms for the Employees Provident Fund and the Collector of Income Tax. The Registry automatically notifies the Collector of Income Tax of the company’s registration.

    The documents required for incorporation are:

    -The list of directors, IDs, date of birth
    -Consent form
    -Notice of registered office address
    -Memorandum of Articles of Association signed by all directors.

    Cost: Due the amendment of the Companies Act (Chapter 39), 2014 the fee for registering an industrial company is BND 300 flat registration fee
    7 days See procedure details
    4

    Certify the Memorandum of Articles of Association and the Articles of Association

    Agency: Registry of Companies and Business Names Division, Ministry of Finance

    After getting the certificate of incorporation online, companies get the Memorandum of Articles of Association (summary of company business activities, the activities they can conduct) and the Articles of Association certified by the ROC.

    Cost: 4 BND per page of MOA and AOA
    1 day See procedure details
    * 5

    File the Return of Allotment Shares

    Agency: Revenue Division, Ministry of Finance

    The Return of Allotment Shares are usually filed at the ROC within 8 weeks of receiving the certificate of incorporation. After submitting the request, a confirmation letter is received. The request has the following information:

    - Share capital of the company
    - Shareholders
    - Shareholder proportion.

    Cost: The cost is 10 BND; the penalty of failing to comply with Section 45 of the Companies Act (Return on
    Allotment of Shares) is BND 250 per day of default.
    1 day, simultaneous with previous procedure BND 10
    * 6

    Stamp share certificates at the Ministry of Finance

    Agency: Registry of Companies and Business Names Division, Ministry of Finance

    Each shareholder has a share certificate that must be stamped by the Revenue Division of the Ministry of Finance. All of the directors/shareholders need to sign a document and get this stamp. The stamp contains a reference number and the amount that has to be paid. There needs to be a date on the share certificate in order for this document to get approved.
    1 day, simultaneous with previous procedure no charge
    7

    Make a company seal or stamp

    Agency: Seal-making shop

    A company seal is not required for most transactions, but is used in practice. Newly incorporated companies will in practice get a seal or a stamp. The company seal is used on share certificates or official documents while the stamp is used frequently for day to day activities, such as invoices.
    3 days BND 185
    * 8

    Register for Employees Provident Fund

    Agency: Provident Fund

    Companies must pay into the Employees Provident Fund for national employees. To complete the application process, companies must complete the form and submit the following documents:

    - Copy of the Certificate of Incorporation
    - Form X (particulars of the directors)
    - Identity cards of the directors
    1 day, simultaneous with previous procedure no charge

    * Takes place simultaneously with previous procedure.

    Applies to women only.