|
The ISLAMIC SULTANATE OF BRUNEI DARUSSALAM, which means "state of Brunei, the Abode of Peace", is located at the hub of Southeast Asia, on the northwestern coast of the Island of Borneo along the shores of the South China Sea. Brunei is one of the richest countries in the world also the member of APEC, WTO, UN, ASEAN and other international organizations. Its domestic economy is driven by petroleum and natural gas exploitation industry.
In 2000, Brunei passed laws permitting overseas legal person and persons to set up external tax-free holding companies, i.e. IBC (International Business Company). In order to meet the demands from Chinese-speaking Asian regions, external companies can use Chinese names.
IBCs need not pay tax. In order to provide a safe, stable and preferential financial environment to IBCs, Brunei has set up an International Financial Center and practices a dual judicial system, where international legislation and domestic legislation operate in parallel, and final appeal can be submitted to London to facilitate the operation.
Advantages
- There is an extremely stable political, economic and trading environment
- There is a platform for expanding business with the10 members of ASEAN
- Companies can open bank accounts in any part of the world
- Companies can register Chinese and English names
- No tax shall be declarable and payable
General Requirements
- There shall be at least one shareholder and director, without nationality restrictions, and the maximum number of directors is 7
- Local registered address
- It is required to appoint a local agent and company secretary
- It is required for an external company to issue registered shares
Standard Authorized Capital
Required Information and Time for Incorporation
- Chinese and English names of company
- Copies of ID cards or passports of shareholders and directors
- Registered address of company
- Registration of company (requires 10 days or so)
|
