Brunei employment visas in 2021
Healy Consultants assists our Clients to obtain a residency permit allowing them to work in Brunei Darussalam following successful incorporation of their company. Our Brunei business formation support experts will prepare and submit the necessary documents and quality application to the Brunei Immigration and National Registration Department on behalf of our Client.
Brunei is a welcoming country for foreign investors. The Sultanate promotes company creation in Brunei outside of the oil and gas industry, so it is easy for entrepreneurs to obtain a Brunei working visa for both themselves and their employees.
Different type of visas available in Brunei Darussalam
Foreign nationals looking to move to Brunei Darussalam to take up employment in the country must first secure an employment visa approval.
- Following Brunei company formation, employers looking to hire expats are required to:
- Obtain a quota license from the Brunei Labor Department;
- Apply for a 2 year employment pass with the Department of Immigration and National Registration for each employee;
- Employers should note the Brunei employment permit is complex to renew after 2 years for employees on low-skilled positions;
- Malaysian and Singaporean citizens are exempted from visa requirement, although an application must still be filed by their employer.
- The required documents when submitting an employment visa application include:
- A duly filed employment pass and visa application form;
- A copy of the employment offer or letter from the sponsor;
- A copy of the company labour license and company corporate documents;
- A colour photocopy of applicant’s passport and two passport-size photos;
- A security bond covering a one-way airfare to the employee’s country of origin.
- Following approval of the employment visa, the employee will then be required to:
- Obtain the work permit at their nearest Brunei Consulate or Embassy;
- Undergo a health screening test;
- Apply for a smart identity card if employment is to last over 3 months.
Foreign nationals looking to travel to Brunei Darussalam for either i) short-term unremunerative business visits or ii) tourism purposes, must obtain a visitor visa prior to visiting the country.
- This type of visa is only valid for 3months and must be obtained from Brunei Embassy or consulate abroad;
- Citizens of any of these countries are however exempted from visitor visa requirements for 14 to 90 days depending on country;
- The following documents must be presented together with the visa application:
- A valid passport valid for at least 6months beyond date of entry to Brunei;
- Two passport-size photos taken in the last 3months;
- A letter of introduction or sponsorship, for applicants visiting Brunei for business purposes;
- A travel itinerary including a return ticket.
Brunei corporate banking options
Healy Consultants assists our Clients with opening a corporate bank account in Brunei without travel. Our fee for this service is US$2,950 and within 4 weeks we will provide a corporate bank account number and two weeks later we will activate internet banking on behalf of our Client. Our experienced banking team will prepare all required documentation and submit them to your preferred bank. We will also attend the bank interview on your behalf.
Healy Consultants banking services in Brunei
- Healy Consultants Compliance Team can open an international corporate bank account within 3-4 weeks of Brunei business formation, and there is no need for the Client to travel to Brunei to complete the formalities. Following Brunei businesss bank account approval, the preferred bank will directly and independently email our Clients the corporate bank account number;
- Other services provided by Healy Consultants include assistance with securing corporate finance in the form of a loan, overdraft or simply preferential credit terms are other corporate banking related aspects of doing business in Brunei;
- Brunei banking provides finance to Brunei registered companies provided the following conditions are met i) good business-plan ii) availability of collateral assets iii) experience of business owners iv) last 3 years audited financial statements v) realistic feasibility study and a vi) project strength and weaknesses analysis (SWOT) study;
- To support their new business in Brunei, Healy Consultants assists Clients with trade finance tasks including i) bank guarantees ii) letters of credit iii) finance against trust receipt and iv) document against payment and against acceptance.
Corporate banking options in Brunei
- Brunei banks provide to both Bruneian residents and nonresidents the full range of corporate bank account facilities including multiple currencies accounts, internet banking, telephone banking, checking accounts, savings accounts, debit and credit cards, fixed term deposits, and wealth management services;
- Only six international banks maintain a presence in Brunei, including i) HSBC ii) Maybank iii) Citibank iv) RHB v) UOB and vi) Standard Chartered. To receive the best internet banking and customer service in Brunei, Healy Consultants recommends using the services these banks for all corporate bank account solutions;
- The only three local banks in Brunei are i) Baiduri Bank Berhad ii) Bank Islam Brunei Darussalam Berhad and iii) Perbadanan Tabung Amanah Islam Brunei. We do not recommend them to our Clients, due to their virtually inexistent presence outside of Brunei.
Exchange controls and other regulations
- The Bruneian Dollar is pegged to the Singaporean Dollar at a 1-1 fixed exchange rate. Singaporean dollars can be used without restriction in Brunei, and reversely;
- Brunei Darussalam does not apply exchange controls on investments and profits repatriation from the Sultanate;
- In an effort to re-address its tax-haven reputation, Brunei has implemented since 2012 more stringent anti money laundering regulation including i) mandatory declaration of all assets from both resident and nonresident owners of a Brunei bank account ii) search and seizure powers for the Brunei Financial Intelligence Unit and iii) exchange of information with foreign tax and police authorities.