Run a Business
Once your business is up and running, you may have different needs and requirements in order to keep your business running smoothly and efficiently. Familiarise yourself with the available services and current procedures to save you time.
Access to Finance
- You may now have easier access to credit, with financial institutions better able to assess your credit exposure and worthiness through comprehensive credit reports compiled by the Credit Bureau. Learn more about the Credit Bureau and the type of credit information contained in your credit report.
Maintaining a good credit report is important. Financial institutions will use it to assess how you manage your financial responsibilities and your credit worthiness, in order to decide whether or not to grant you credit facilities. Verify and rectify the information shown in your credit report by requesting your Self-Inquiry Report (SIR). Learn how to obtain your Self-Inquiry Report here.
- Learn how you can use your belongings as collateral to gain credit for growing your business, with the new national Collateral Registry system.
- DARE’s Microcredit Financing Scheme offers a loan of up to B$15,000 with no collateral required and a repayment period of up to 36 months. Find out whether you are eligible and how to apply.
- Brunei Darussalam offers a favourable tax climate. Businesses operating in Brunei Darussalam are exempted from paying taxes on Personal Income, Payroll, Goods and Services, and Capital Gains. Learn more about the applicable taxes your business may be required to pay.
- Employees Trust Fund contributions – locally known as Tabung Amanah Pekerja or “TAP” – are mandatory for all businesses. Learn more about TAP services or log on to your TAP company account and pay contributions online via the e-Amanah system.
- If your company earns under B$1million in revenue per year you are also exempted from the submission of audited financial statements, but you will still be required to file income tax returns and contribute to your employees’ provident fund.
- Tax Returns can be filed online by a registered tax agent through the System for Tax and Revenue Services (STARs), saving you time to focus on your business. Learn how it works and stay updated on the latest tax news and announcements here.
- You are automatically registered to both e-Amanah and STARs upon registration of your business.
- A flat tax rate of 1% has been introduced to encourage export, applicable only for companies which registered as Sdn Bhd or Bhd under the Companies Act (Cap 39) upon request to the Revenue Division, Ministry of Finance and Economy. To find out more information, click here.
Importing & Exporting
- Whether you are a start-up, online business or are involved in large scale import-export activities, logistic efficiency has a big impact on your business. We have a 5-step import-export process through Muara Port. Find out how it works and what you have to do here.
If you are planning to engage in importing and exporting activities or the transiting of goods in Brunei Darussalam, your business must either be registered with the Royal Customs and Excise Department (RCED) or you will need to appoint a registered forwarding agent. Check the average cargo clearance times by registered agents here.
- Access trade-related services via the Brunei Darussalam National Single Window (BDNSW), which provides a single platform for you to apply for your import-export permits, obtain declaration approval and apply for Port Clearance.
Some goods are prohibited from import-export, while certain restrictions or controls apply to other types of goods.
Trading and logistics activities will have a cost impact on your business. Find out the applicable duties, port tariffs and indicative shipping and forwarding charges, to help you plan better.
Goods for trade samples, demonstrations and exhibitions qualify for temporary importation for a period of 3 months. Find out more on the documents, approvals and security required, as well as the criteria for temporary exportation.
If you are looking to export your products from Brunei Darussalam, you may need to apply for a Certificate of Origin. A Certificate of Origin (COO) is a document to establish evidence on the origin of the goods imported into any country. Find out more and how to apply here.
Sales & Trade Promotion
- If you are planning to offer a sale or promotion to your customers you will need approval from the Department of Economic Planning and Development (JPKE). Learn more here about how to apply.
- Trade promotion events such as expos, pop-up sales or bazaars, provide popular platforms to promote your products and services. Find out here how to apply to organise expo and trade events.
- Should you encounter a dispute with a customer, the Consumer Affairs Division under the Department of Economic Planning and Development may assist in mediating and resolving the consumer complaint. Learn more about the process here.
The Small Claims Tribunal provides a quick and low-cost forum for resolving small claims between buyers and sellers of sums not exceeding $ 10,000. Understand what constitutes as a claim and what you should consider before filing a claim.
- In the event you need to engage mediation and arbitration services to resolve a commercial dispute, find out more about the facilities available at the new Brunei Darussalam Arbitration Centre (BDAC).
- Brunei Darussalam’s Commercial Court was established in 2016 to facilitate speedier resolution to any commercial disputes, allowing you to return to business as usual. Learn more about the Commercial Court here.
- If your business is in financial distress and unable to pay its debts, you are likely facing insolvency.
The Insolvency Order 2016
is a new legislation that aims to rescue companies in financial distress by placing emphasis on company rehabilitation and protection for creditors and debtors.