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Type of Business Entities

The Registry of Companies and Business Names registers business and incorporate companies under any of the following forms:


Sole-ProprietorshipPartnership ​Company
Definition​A business owned by one person​A business firm/ organization of two or more business partners​A business form which is a legal entity separate and distinct from its shareholders and directors
Owned by
​One person​Generally between 2 to 20 partners. A partnership of more than 20 partners must incorporate Private Company

Private Company has at least 2 shareholders and a maximum of 50 shareholders.

Public Company               

Public Company has at least 7 shareholders/members.
Legal Status
​Not a separate legal entity

Owner has unlimited liability

Can sue or be sued in individual’s own name

Can also be sued in business names

Owner personally liable for debts and losses of business
​Not a separate legal entity

Partners have unlimited liability

Can sue or be sued in firm’s name

Cannot own property in firm’s name

Partner’s personally liable for partnership’s debts and losses incurred by other partners
​A separate legal entity from its members and directors.

Members have limited liability

Can sue or be sued in company’s name

Can own property in company’s name

Members not personally liable for debts and losses of company
Registration requirement
​Age 18 years or above.

Brunei Citizens and Permanent Residents only.

Undischarged bankrupt cannot manage business without court or Official Receivers’ Approval
​Age 18 years or above.

Brunei Citizens and Permanent Residents only.

Undischarged bankrupt cannot manage business without court or Official Receivers’ Approval
​Age 18 years or above

Minimum of 2 directors. (if 2, At least one of the directors shall be Ordinarily Resident in Brunei Darussalam)

Undischarged bankrupt cannot manage business without court or Official Receivers’ Approval

At least two shareholders
Fomalities and expenses
​Quick and easy to set up

Easy to administer and manage

Registration cost is minimal

Less administrative duties to adhere to
​Quick and easy to set up

Easy to administer and manage

Registration cost is minimal

Less administrative duties to adhere to
​More costly to set up and maintain

More formalities and formalities to comply with

Annual Returns must be filed as Statutory Requirement of General Meetings, directors, share allotments, etc.
Set-up fee
​$30 for the registration fee​$30 for the registration fee​$300 for the incorporation fees
Continuity of the business entity​Exists as long as the owner is alive and desires to continue the business​Exists subject to Partnership Agreement​A company has perpetual succession until wound up or struck off
Closing of the business​By owner – Cessation of business​By partners – Cessation of business or dissolution of partnership
  • ​Winding up – Voluntarily by members, compulsorily by the High Court

  • Striking Off