STARTING A BUSINESS (SAB) : REGISTERING YOUR BUSINESS AND COMPANY - PowerPoint PPT Presentation

REGISTRY OF COMPANIES AND BUSINESS NAMES DIVISION MINISTRY OF FINANCE AND ECONOMY BRUNEI DARUSSALAM STARTING A BUSINESS (SAB) : REGISTERING YOUR BUSINESS AND COMPANY NAME 28 th March 2019 Date : Registry of Companies & Business Names Division Venue : Bridex Hall 2, Jerudong Level 1, Ministry of Finance Ministry of Finance Building Commonwealth Drive BB3910 Brunei Darussalam www.roc.gov.bn

TYPES OF BUSINESS ENTITIES Type of Business Entities BU S INES S ENT IT IES BUSINESS NAMES ACT COMPANIES ACT (CAP. 92) (CAP.39) SOLE - PARTNERSHIP COMPANY PROPRIETORSHIP www.roc.gov.bn

Sole Proprietorship (Pemilik Tunggal)  Known as Sole trader or Proprietorship  One owner  Simple  Unlimited liability  Personally responsible for all losses & debts www.roc.gov.bn

Partnership (Perkongsian )  Business Entity having 2 – 20 partners  Partners are personally liable for the partnership’s debts and losses incurred by themselves • A partnership is not a separate legal entity from its owners www.roc.gov.bn

Company (Syarikat )  It has a legal personality  Can be defined as ‘Artificial person’  It can sue or be sued in its own name  Identifiable by the words “ Sdn Bhd ” and “ Bhd ”  Subject to pay to Corporate Income Tax. www.roc.gov.bn

Types of Business Entities Registration Business Entity Legislation Registration fees requirements 18 years or above. • Sole - Brunei Citizens and Permanent • Residents only. Proprietorship Undischarged bankrupt Business Names • BND$30.00 cannot manage business Act, CAP . 92 without court or Official Receivers’ Approval Partnership Age 18 years or above • Minimum of 2 directors. (if 2, • At least one of the directors shall be Ordinarily Resident in Company Brunei Darussalam) Companies Act, (Sendirian BND$300.00 Undischarged bankrupt cannot • CAP . 39 manage business without Berhad/Berhad) court or Official Receivers’ Approval At least two shareholders • www.roc.gov.bn

Post Registration of Business Names Apakah yang perlu dibuat selepas pendaftaran?  Update any changes to the Registry of Business Names  Changes will be reflected in Certificate of Registration www.roc.gov.bn

Post Incorporation of Company Hold Annual General Meeting Filing of Annual Returns Updates on any changes Appoint Auditors www.roc.gov.bn

Online Registration System Users can log on to www.roc.gov.bn www.roc.gov.bn

How to register your Business www.roc.gov.bn

Thank you More information www.roc.gov.bn / www.mofe.gov.bn Enquiries info.rocbn@mofe.gov.bn +673-2-380505 (General Line) +673-2-380503 (Fax) www.roc.gov.bn