BRUNEI
We have a team of skilled professionals ready to assist you with all your business needs—so you can focus on expanding in Brunei.
WHY BRUNEI?
- Strategically located in Southeast Asia, Brunei serves as a gateway to ASEAN markets.
- Political stability is ensured by a long-standing monarchy, a low-crime environment, and an English-common-law system.
- Brunei boasts a high standard of living, free healthcare and education, and a highly educated, mostly English-speaking population.
- The government actively supports foreign investment through the Brunei Economic Development Board (BEDB), offering one-stop assistance for permits, licensing, and investor services.
ADVANTAGES
- Low-Tax Environment: No personal income tax, and competitive corporate tax rates with generous incentives.
- Resource-Rich Economy: Oil and gas dominate Brunei’s economy, contributing significantly to GDP and export revenues.
- Modern Infrastructure: Well-developed roads, ports, and airports with ongoing upgrades to support growth.
- Business Support: Skilled workforce, low utility rates, and a one-stop center for business processes streamline establishment and operations.
SIMPLE TAX REGIME
- Personal Income Tax: None. Brunei does not levy personal income tax.
- Corporate Income Tax (CIT): Flat rate of 18.5% on net profits; exemption for the first BND 100,000 in the first three years for new companies; MSMEs with turnover ≤ BND 1M may be exempt.
- Industry-Specific Rates: Oil and gas companies are taxed at 55% under Petroleum Profits Tax.
- Other Taxes:
- No VAT or GST.
- Stamp duty on property and legal documents (e.g., 2% on property transfers).
- No capital gains, inheritance, or gift taxes.
- Withholding Taxes: Dividend, interest, and royalty withholding may apply (generally between 2.5% to 10%), with applicable exemptions under DTAs.
TAX SLABS – INCOME & CORPORATE TAX RATES
- Unified Corporate Tax Rate: 18.5% on net profits.
- Special Petroleum Tax: 55% on oil and gas sector profits.
BRUNEI COMPANIES
Our experts guide you through every stage of establishing and managing a company in Brunei:
- Registration & Licensing: Quick company formation via a one-stop center, with support from BEDB.
- Optimal Tax Structuring: Guidance on qualifying for incentives, exemptions, and preferential tax treatment especially in priority sectors like manufacturing, tourism, ICT, and renewable energy.
- Ongoing Compliance: Assistance with annual filing, taxation, and regulatory obligations.
- Supporting Infrastructure & Workforce: Facilitating access to utilities, sites, workforce training, and other necessary infrastructure.
Contact Us
Get in touch with the right people to get the right help in setting up your business in Brunei.
Contact us at:
enquiries@chandrawatpartners.com