The ISO code of Brunei Darussalam is BN according to the ISO 3166 standard. The local name of the country is Negara Brunei Darussalam. Brunei Darussalam capital city is Bandar Seri Begawan. People in Brunei Darussalam speak the Malay language. On 7 September 1822, Brunei Darussalam emerged as a sovereign political entity. In the year 09/07/1822, Brunei Darussalam emerged as a sovereign political entity. The largest city in Brunei Darussalam is Bandar Seri Begawan.
Brunei Darussalam is located in the UTC +08:00 time zone, which is also called Brunei Darussalam Time or BNT. The internet country code top-level domain (ccTLD) for Brunei Darussalam is .bn. Other domains assigned to Brunei Darussalam are .asia. The International dialing code for Brunei Darussalam is 673. People in Brunei Darussalam drive on the left side of the road. Total land area of Brunei Darussalam is 5,765 km² (approx. 2,226 mi²). Brunei Darussalam is not a landlocked country. It means that is is bordered by at least one major body of water.
Brunei Darussalam is located in Asia. Brunei Darussalam is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Brunei Darussalam faces various issues, including seasonal smoke/haze resulting from forest fires in Indonesia.
Doing business in Brunei Darussalam
We offer various corporate services in Brunei Darussalam jurisdiction. These services can serve both, people coming from Brunei Darussalam and foreigners. If you plan on doing business in Brunei Darussalam you might be interested in contacting us.
To find out about starting your business in Brunei Darussalam click on company formation in Brunei Darussalam.
To find out how to open a bank account in Brunei Darussalam and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Brunei Darussalam.
Choose preferred service below or continue reading to find out more about Brunei Darussalam.
Demographics of Brunei Darussalam
The total population of Brunei Darussalam is 434,076 people. In Brunei Darussalam, the population density is 68 people per square kilometer (177 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Brunei Darussalam is 0.5416. Brunei Darussalam has approximately 206173 foreign immigrants. The median age is approximately 29.3 years. In Brunei Darussalam, 60.27 in every 100 people use internet. Brunei Darussalam has a Human Development Index (HDI) of 0.852.
The majority religion of Brunei Darussalam is Islam, Brunei Darussalam is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Brunei Darussalam.
Culture of Brunei Darussalam
People in Brunei Darussalam speak the Malay language. According to data on inbound tourists in Brunei Darussalam, 225,000 tourists arrive in the country each year. The first McDonalds in Brunei Darussalam was opened on 12 December 1992, and it was located in Bandar Seri Begawan. One of the most popular national dishes of Brunei Darussalam is ambuyat. To read more click on culture of Brunei Darussalam.
Geography of Brunei Darussalam
Brunei Darussalam is considered to be a large nation because of its total area. Its total land area is 5,765 km² (approx. 2,226 mi²). Brunei Darussalam is located in Asia. Its capital city is Bandar Seri Begawan. The length of said border is 381 km (237 mi).Total length of land borders of Brunei Darussalam is 266 kilometers (~103 miles).
The highest point of Brunei Darussalam is Bukit Pagon, with its official height being 1850 m (6,070 ft). Including land mass and EEZ, the total area of Brunei Darussalam is approximately 15,855 km² (~6,122 mi²). The most notable natural resources found in Brunei Darussalam are petroleum, natural gas, timber.To read more click on geography of Brunei Darussalam.
Economy of Brunei Darussalam
The currency of the country is Brunei dollar. The symbol used for this currency is $, and it is abbreviated as BND. 7.1% of population in the country are unemployed. The total number of unemployed people in Brunei Darussalam is 30,819. Each year, Brunei Darussalam exports around $12.75 billion and imports roughly $3.02 billion. The Gini Index of the country is 40.1. Brunei Darussalam has a Human Development Index (HDI) of 0.852.Brunei Darussalam has a government debt of 118% of the country's Gross Domestic Product (GDP), as assessed in 2012. Brunei Darussalam is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are petroleum, petroleum refining, liquefied natural gas, construction, agriculture, transportation.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Brunei Darussalam is $32,958 billion. Each year, consumers spend around $2,027 million. The ratio of consumer spending to GDP in Brunei Darussalam is 0%, and the ratio of consumer spending to the world consumer market is 0.0058. The corporate tax in Brunei Darussalam is set at 20%. VAT in Brunei Darussalam is 0%. To read more click on economy of Brunei Darussalam.
Infrastructure of Brunei Darussalam
In Brunei Darussalam, 76.2% of the population has access to electricity. There are 49,457 internet hosts in Brunei Darussalam. Brunei Darussalam has 1 airports nationwide.
The number of road motor vehicles per 1000 inhabitants in Brunei Darussalam is 12. To read more click on infrastructure of Brunei Darussalam.
Politics of Brunei Darussalam
Brunei Darussalam, is a unitary islamic absolute monarchy. With regard to political and civil freedoms, Brunei Darussalam is 3. Citizens in Brunei Darussalam experience little to no civil liberties and political rights. Citizens are not free to express themselves and do not enjoy political freedom or a representative government. Countries with this political situation are dangerous for investment, as an authoritarian government may have outsize control over economic matters. The head of the government is Hassanal Bolkiah.
According to the World Bank Group, the government effectiveness index of Brunei Darussalam is 1.08. This indicates that the government of Brunei Darussalam is effective. Citizens enjoy well-organized public and civil services, and government efficiency is high. While some services may be lacking in certain areas, the overall environment fostered by government legislation is favorable.In Brunei Darussalam, the legislative power is vested in a Legislative Council. The strength of legal rights index for Brunei Darussalam is 4. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. Brunei Darussalam is a member of the United Nations (UN). On 21 September 1984, it joined the UN as a full member state. Brunei Darussalam is a member of the World Bank. To read more click on politics of Brunei Darussalam.
Environment of Brunei Darussalam
Brunei Darussalam emits 24.4 metric tons per capita of CO2. 2780 km² of Brunei Darussalam's territory is covered in forests. and forest land comprises 48% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Brunei Darussalam is 12. To read more click on environment of Brunei Darussalam.
Company formation in Brunei Darussalam
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Brunei Darussalam.
When establishing a company in Brunei Darussalam, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Brunei Darussalam that will affect the establishment and growth of one's business. Contact us or click on company formation in Brunei Darussalam to read additional information when setting up a business.
Bank account opening in Brunei Darussalam
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Brunei Darussalam. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Brunei Darussalam, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Brunei Darussalam or contact us.