DWe have offshore account opening services in Brunei and anonymous bank accounts with numbered debit cards in Asia, America and Europe. These are aimed at companies, individuals and major corporations.
Everything you need to know to set up an operating company with a bank account.
• There are prison terms for disclosing customer bank details to third parties (and possibly fines).
• Banks are not at all subject to strict customer due diligence regulations (old FATF recommendation 5 / new FATF recommendation 10).
• Banks are partially obliged to maintain sufficient records of customer and transaction data for law enforcement (old FATF recommendation 10 / new FATF recommendation 11).
• Banks and / or other covered entities are required to report large transactions in currency or other monetary instruments to designated authorities.
• The national administration does not have sufficient powers to obtain and provide banking information on request.
• There are undue notification and recourse rights against the exchange of banking information upon request without requirements.
<br>• Dividend payment: No unilateral relief for double taxation through a tax credit system.
<br>• Interest payments: No unilateral relief for double taxation through a tax credit system.
• The jurisdiction DOES accept the circulation of large bills / cash notes of your own currency (value over 200 EUR / GBP / USD).
• Bearer shares are not available / not circulated.
• Serial LLC / Shielded Cell Companies are available.
• Trusts with escape clauses are not prohibited.
Brunei It is no longer on the FATF List of countries that have been identified with strategic AML deficiencies.
The last Mutual Evaluation Report related to the implementation of the rules against money laundering and terrorist financing in Brunei was carried out by the Financial Action Task Force (FATF) in 2005. According to that Evaluation, Brunei was considered Compliant in 3 and Fully complied with in 16 of the 40 + 9 FATF Recommendations. Partially compliant or not compliant with 1 of the
6 main recommendations.
Overall Non-Compliance Score for FATF Standards in Percentage: 71,5%. (100% = all indicators rated as not met / low level of effectiveness; 0% = all indicators rated as completed or highly effective).
Automatic information exchange is extremely secretive in Brunei.
Brunei is not a signatory to the Multilateral Competent Authority Agreement (MCAA), which provides the
multilateral legal framework to participate in the automatic exchange of information (AEOI) of
compliance with the OECD Common Reporting Standard (CRS)
The international banks and digital are available.
Real bank operations: 90%.
Type of visa: BND, US $, €.
Joint accounts: SI.
Remote management account: To consult.
Wealth administration Depending on the qualification of the company.
Rates: It depends on the type of account.
Credit / debit cards in local currency.
Crypto-friendly banks: It depends on the correspondent bank.
Portfolio availability: It does not depend on the correspondent bank.
Ability to issue letters of credit: YES.
Foster Swiss is an international company registered in Switzerland aimed at providing financial and compliance advice on a variety of topics related to company formation
and commercial banking internationally. We are specialized in the implementation of businesses in different jurisdictions, which means that we offer value-added services helping our clients in their expansion abroad.
Some of these services include:
Advice and consultancy,
visas, offices, nominated director / shareholder / secretary,
accommodation if necessary… to name a few.
Check with your assigned consultant for more information.