What are the types of companies in Brunei?

There are various types of companies in Brunei. These may include: 1st Person Company: It is a company established and managed by one person. The owner of the company assumes all responsibilities and receives the profits of the company.

2. Limited Liability Company (LLC): The most common type of company. It is established by the coming together of at least two partners. The liability of each partner is limited to the capital invested. Such a company must be registered with the Brunei Trade and Industrial Registry.

3. Joint Stock Company: It is a company established by the coming together of at least seven partners. While partners participate in the profits and losses of the company, their liability is limited to the capital they invest. The joint stock company must be registered with the Brunei Trade and Industrial Registry.

4. Collective Company: It is a company established by the coming together of at least two partners. Partners participate equally in the management and decision-making processes of the company. The collective company must be registered with the Brunei Trade and Industrial Registry.

5. Branch Company: This is a type used when a foreign company opens a branch in Brunei. The branch operates as an extension of the parent company's activities.

6. Cooperative Company: It is a type of company where partners come together and cooperate without profit. Cooperatives can be established in a specific sector or to serve a specific purpose. Each of these types of companies operates under Brunei law and regulations and is subject to certain procedures for establishing companies. It is important to contact the Brunei government or competent authorities for further details and requirements regarding company formation.