Brunei Offshore Company

[Xerkki]

Hi.

Considering to have some business in Asia.

Is Brunei offering anymore tax exempt companies where directors/shareholders are not disclosed?
If it is, how much does this kind of company cost (incorporation and annual fees)
Is it easy to open bank account with Brunei company (experiences?)?

 

[JohnLocke]

This https://www.tax-news.com/news/Brunei_Signs_OECDs_Multilateral_Tax_Compact____75226.html may be old news but of interest for you.

 

[Sols]

IIRC, Brunei stopped registering new IBCs years ago. All you are left with now are‌ Sdn Bhd which are taxed at 18.5% on a territorial basis. Compared to the old‍ IBCs, setting up a Sdn Bhd is much more costly and complex.

 

[Xerkki]

Ok. Thank you for your answers. Too bad that Brunei is also out from IBC‌ companies.

 

[JohnLocke]

@Sols do you believe there may be Ready-Made companies available for Brunei? Just crossed my‌ mind.

 

[Sols]

The limited experience I have had with Brunei points‍ to Hong Kong, Singapore, and even Labuan being far more popular. With IBCs gone, there⁠ doesn't seem to be any advantage in most cases with going with Brunei.