About OCP

The One Common Portal (OCP) is an initiative by the Ministry of Finance and Economy (MOFE) which aims to bring MOFE online services together onto a single platform and provide a more seamless user experience for the corporate community to manage their corporate obligations throughout the business lifecycle from setting up a company or business to managing tax affairs.

About ROCBN

About Registry of Companies and Business Names division (ROCBN)

The Registry of Companies and Business Names (ROCBN) was established in 1959 under the Attorney General's Chambers. In April 2012, the Registry of Companies and Business Names was transferred to Ministry of Finance and Economy.

Vision
To be the trusted corporate registry

Mission
Providing quality services to the business community and other stakeholders

Functions

  • To administer the Business Names Act (Chapter 92) and Companies Act (Chapter 39)
  • To establish a register of documents and information and provide access to these documents
  • To promote public awareness on any matter under the purview of the Registry
  • To represent the Government internationally in matters relating to the registration and regulations of business entities.

Roles
To facilitate the registration of business and the incorporation of companies.

List of Assistant Registrars
Position Date of Appointment

Dyg Erma Sufinie binti Ali Rahman
Finance Officer

Assistant Registrar 27th April 2016

Dk Asmaa Hani binti Pg Omarali
Finance Officer

Assistant Registrar 27th April 2016

Awg Lim Sei Kee
Finance Officer

Assistant Registrar 27th April 2016
Types of Business Entities

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

Sole-Proprietorship Partnership Company
Definition
  • A business owned by one person
A business firm/organization of two or more 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
  • Partner’s personally liable for partnership’s debts and losses incurred by other partners
  • Not a separate legal entity
  • Partners have unlimited liability
  • Can sue or be sued in firm’s name
  • Partner’s personally liable for partnership’s debts and losses incurred by other partners
Registration requirement
  • Age 18 years or above
  • Brunei Citizens or Permanent Residents only.
  • Undischarged bankrupt cannot manage business without court or Official Receiver’s Approval
  • Age 18 years or above
  • Brunei Citizens and Permanent Residents only.
  • Undischarged bankrupt cannot manage business without court or Official Receiver’s 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 Receiver’s Approval
Formalities 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 to comply with
  • Annual Returns must be filed as Statutory Requirement of General Meetings, directors, share allotments, etc.
Set-up fee
  • $30 registration fee
  • $30 for registration fee
  • $300 for incorporation fee
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 of compulsorily by the High Court
  • Striking Off