Brunei Market Entry

Brunei Market Entry

Basic conditions for the use of Czech goods on the market

Subchapters:

  • Market entry
  • Forms and conditions of operation on the market
  • Marketing and Communications
  • Issues of intellectual property protection
  • Public procurement market
  • Payment terms, payment ethics and resolution of commercial disputes
  • Visas, fees, specific conditions of travel to the territory
  • Employment of citizens from the Czech Republic
  • Fairs and events

Market entry

According to cheeroutdoor.com, Brunei encourages inflows of foreign investment, including 100% foreign ownership in most sectors. The country has the lowest tax rates in the region. This fact, together with a stable economic and political environment, makes the country an interesting destination for investors. A certain handicap can be the limited capacity of the domestic labor force and regulatory barriers when employing foreigners, as well as the limits given by the existing capacity, although otherwise relatively very modern, of the infrastructure. Newly founded foreign companies that obtain “pioneer” status do not have to tax their profits for a certain period. Tax holidays are directly proportional to the amount of fixed capital invested, viz. Tax system chapter or Deloitte-Tax Guide pages.

Forms and conditions of operation on the market

The most likely direct operation in the Brunei market is probably coverage within a regional operational center in, for example, Singapore or Malaysia. Another possibility, of course also applicable in the case of a regional branch, is representation by a local partner or distributor. Direct corporate entry would probably be recommended only in case of significant investment or significant engagement in the mining sector. The necessary standard in a similar case is, as in the entire region, the use of a local legal or consulting company.

Marketing and communication

Brunei is rather not a target consumer market from the point of view of Czech exports. For possible consumer-targeted marketing, tools such as Facebook or Instagram, or standard websites, would probably serve as the most practical tool. In practice, rather than targeted advertising, the most likely opportunity to reach the Bruneian market or partner appears to be the environment of international fairs attended by Bruneian specialists.

PR agencies

ADDISON

HR agencies

AMEA

Global HR/employer firms

Issues of intellectual property protection

Brunei Darussalam has been a member of the WTO since 1 January 1995 and a member of the GATT since 9 December 1993.

More on the website of the Intellectual Property Protection Office BRUIPO .

Public procurement market

Public procurement in Brunei is decentralized between individual central authorities. However, they must follow uniform rules set by the central State Tender Board and the Ministry of Finance.

Payment terms, payment ethics and resolution of commercial disputes

Information not available. However, it is worth noting the fact that Brunei has two systems of justice – civil and religious. The appeal is then submitted to the Religious Council in the case of religious matters, and to the High Court in the case of civil matters. You can then refer to the Court of Appeal. The possibility of introducing a stricter criminal code based on Sharia law is constantly being considered. In addition, all posts of judges are filled directly by the authority of the Sultan.

Visas, fees, specific conditions for traveling to the territory

The visa requirement for trips to Brunei not exceeding 30 days was abolished for holders of all types of travel documents issued in the Czech Republic in 2007. Permits for long-term stays of entrepreneurs, registration of companies and representatives in Brunei are arranged by intermediary offices. Although the amounts charged are quite high, it is otherwise difficult for a foreigner to navigate the bureaucratic tangle of local authorities.

Employment of citizens from the Czech Republic

Work permits for foreign employees are usually granted without problems. Foreign workers from Malaysia, Thailand, the Philippines, India and Bangladesh account for a third of all employees in the country. The application for a work permit for a foreign employee is submitted to the labor office, which then forwards its opinion to the immigration office. Work permits for foreign employees are valid for two years, and the labor office requires a deposit for each worker, which must be paid in cash or with a bank guarantee. This is an amount covering the one-year costs of a foreigner’s stay in the country, including a one-way return ticket to his mother country. Medical care in Brunei is of a good standard. If necessary, it is recommended to use the services of private medical facilities. Treatment is provided to foreign patients for a fee. The Sultanate of Brunei does not set any statutory minimum wage. In the case of employees with a long-term residence in Brunei or born Bruneians, the employer pays 5% of the salary to the Employee Trust Fund, and 3.5% to the Pension Pillar.

Fairs and events

There are no significant events of this kind in the country, and relevant business interactions take place at established international trade fairs.

 

Practical telephone numbers (emergency services, police, firemen, information lines, etc.)

Emergency service 991

Firemen 995

Police 993

Important web links and contacts

Internet information sources :

  • ASEAN
  • Brunei Industrial Development Authority
  • All links with information can be found at: GK SOFT
  • brudirect

Addresses of important institutions:

The Brunei Economic Development Board

Block 2D, Bangunan Kerajaan Jalan Kumbang Pasang

Bandar Seri Begawan BA 1311

Brunei Darussalam

Phone: +673 223 0111 Fax: +673 223 0063

Email: [email protected]

Website: BEDB

Brunei Market Entry