Brunei free zones in 2023
- Brunei Darussalam authorities operate one Free Trade Zone in Brunei: the Pulau Muara Besar Export Zone;
- This Brunei free trade zone provides businesses with advantages including: i) subsidized warehousing space ii) subsidized industrial space iii) deep seawater port and iv) various tax incentives, including exemption from corporate tax for up to 15 years;
- In order to conduct operations in the Brunei FTZ, a company must apply to the Muara Besar Port Authority. The FTZ is currently crowded, but Pulau Muara Besar extension project should reduce approval delays.
| Free zone comparison | Pulau Muara Besar Export Zone |
|---|---|
| FTZs used mostly by which industry? | Petrochemical industry and pharmaceuticals |
| Average annual warehousing space rent per 1000 sq. m. | US$20,000 |
| How long to set the company up? | 20 weeks |
| How long to open company bank account? | 4 weeks |
| Quality of utilities | Excellent |
| Allowed to sign sales contracts with Brunei Clients? | Yes |
| Allowed to invoice Brunei Clients? | Yes |
| Corporate tax payable in Lebanon | 20% |
| Corporate bank account? | Yes |
| Physical office space required | Yes |
| Allowed to import raw materials? | Yes |
| Allowed to export goods? | Yes |
| Can be wholly foreign owned | Yes |
| Can the entity hire expatriate staff in Lebanon? | Yes |
| Minimum number of directors | 2 |
| Minimum number of shareholders | 2 |
| Tax registration certificate required | Yes |
| Individual shareholders allowed | Yes |
| Corporate shareholders allowed | Yes |
| Corporate director(s) allowed | Yes |
| LLC company allowed? | Yes |
| Annual audited financial statements | Yes |
