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Brunei

Brunei Flag

Country: Brunei
Region: Asia-Pacific
Currency: Brunei dollar (BND) (B$)
Languages: Brunei Malay
Time Zone: UTC +8

Phone Code: +673

Communications: OK

Formation Cost: 2700 - 4300 USD$
Formation Time: 4 - 7 days
Maintenance cost: 1000 - 2200 USD$

Executive Summary: Traditionally, the constitutional sultanate of Brunei was a busy commercial centre, with strong ties with the United Kingdom and Singapore, and crude oil and natural gas production accounting for nearly half of GDP. The establishment of the International Financial Centre in 2000 has helped to diversify the economy, and has brought financial services to the fore, providing regimes for banking, insurance, investment funds and trust management. The Financial Centre offers "offshore" facilities under separate legislation to that governing the domestic sector. Domestic companies (except for sole-proprietorships and partnerships) are subject to a 21% rate of corporate income tax, although there is no personal income tax, or export, sales, payroll or manufacturing taxes. Import duties are imposed, although they are generally waived for the majority of basic goods, and those intended for industrial use. Commonly used business forms include the sole proprietorship, the partnership, the private company, the public company, and the branch. The jurisdiction has tax treaties in place with a number of countries, including the United Kingdom, Indonesia, China, and Singapore, Vietnam, Bahrain, Oman, Japan, Pakistan, Malaysia, Hong Kong, Laos and Kuwait .

Suitable for: Aviation, Trading Goods, Intellectual Property/Licensing, E-gaming
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
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Vehicle Types: Limited companies, public limited companies, sole proprietorships, branches, trusts and limited partnerships

Capital primary business districts: Bandar Seri Begawan

Good Relationships: Bangladesh, China, Japan, Malaysia, Singapore, United Kingdom

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Light

Tax Burden - Individual: Very Light

Headline tax rates: CIT 22%, PIT 0%, VAT 0%

Treaty Jurisdictions: Bahrain, China, Hong Kong, Indonesia, Japan, Kuwait, Laos, Malaysia, Oman, Pakistan, Singapore, United Kingdom, Vietnam

TIEA Jurisdictions: Australia, Canada, Denmark, Faroe Islands, Finland, France, Greenland, Iceland, Norway, Sweden

Information Links:

 

 

 

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