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Over 700 registrations made through ROCBN

A TOTAL of 733 registrations have been made through the online Registry of Companies & Business Names (ROCBN) since the start of its phase-by-phase implementation in January this year.

 This was announced yesterday at a briefing organised by the Ministry of Finance on Online Companies and Business Names Registration & Record Keeping (Business) Order, 2015 held at the Kuala Belait Convention Centre which was attended by more than 100 local business owners in the Belait District.

Officials representing the Registry of Companies and Business Names Division and the Revenue Division were present to speak about the recent developments of both divisions particularly on the online ROCBN and the Record Keeping (Business) Order 2015 and discussed of how they can benefit to the local business owners whether they’re companies or sole proprietorship.

Speaking to the Bulletin, Hajah Nurliati binti Haji Md Idris, the Director of Registry of Companies & Business Names Division, said the briefing was part of the ministry’s outreach programmes that are aimed at promoting the online registry, which is currently in phase two of its implementation.

Since the implementation of the first phase on January 1, 2015, which focused on incorporating new companies (Sdn Bhd), Private Limited Company (Syarikat Sdn Bhd) Public Limited Company (Syarikat Berhad) and foreign branches under the Companies Act Chapter 39; 416 companies have successfully been incorporated through the online ROCBN whereas during the second phase of implementation since July 2015 it allowed the registration of 317 new Business Names (which consists of sole proprietorship and partnership under the Business Names Act Chapter 92).

The Director of Registry of Companies & Business Names Division spelt out the various benefits of registering on the new registry which will slowly phase out the previous registration through www.eregistry.agc.gov.bn which was implemented in 2006.

“For starters, the registry acts as a one-stop platform for businesses so that they may carry out their registrations in a hassle free environment. No queues, no papers and supported by cashless technology where they can carry out registration payments just by using a credit card,” said Hajah Nurliati. She said that this is also caters to the frontline and the backend staff with the reduction of physical payments and the omission of declaration documents (which used to require businesses to obtain via court coupled with a fee).

“After successful registration, they will also obtain their certificate of incorporation through e-mail and like all electronic certificates issued on the registry, it can be downloaded and printed by the registrants” informed the director to add on the already comprehensive advantages of registering through the online ROCBN. To illustrate the ease of payment methods, out of the 356 payments made since the start launch of the registry, the briefing informed that 86 per cent of them is made via credit and debit cards.

As the division’s priority is the realisation of its vision towards being the trusted corporate registry and the mission to provide quality services to the business community and other stakeholders, the director explained that with the implementation of a complete registry of businesses in Brunei Darussalam, it could be a gateway towards creating more opportunities amongst the business community.

“Any company (local or foreign) may purchase company information to be downloaded about any registered companies they wish especially those looking for business opportunities aligned with their goals,” added the director while informing that this is good for companies who are looking to set up joint ventures or to just to look for potential clients in a specific industry.

“With the advancements of today’s technology, it is crucial to take advantage and make use of the services and the implementation of the online registry is an example of such progress with the hopes of also becoming a catalyst in motivating and cultivating interests in developing the entrepreneurship and business sector, that holds potential in contributing to the Sultanate’s economic growth” she added.

She said this initiative is in support of the government’s desire to create a more conducive, business-friendly environment and pro-investment which is always on the move to innovate and provide better, efficient service delivery.

Similar briefings will be held in the Brunei-Muara and Tutong districts. For more information, the public can visit the website www.mof.gov.bn.

Also present at the event were members of the Legislative Council for the Belait District YB Haji Mohd Shafiee bin Ahmad and YB Haji Mohd Yusof bin Haji Dulamin, Chairman of the Kuala Belait-Seria Municipal Board Haji Ali bin Matyassin.

 

[Courtesy: Borneo Bulletin, 8th October 2015]

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