| Business Type | Sole-Proprietorship | Partnership | Company | Cooperatives |
| Definition | A business owned by one person | A business firm/ organization of two or more business partners | A business form which is a legal entity separate and distinct from its shareholders and directors | An autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.
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| 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. | Members of the association
Registered under the Cooperative Societies Act Chapter 84
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| 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 Cannot own property in firm's name Partner's personally liable for partnership's debts and losses incurred by other partners | A separate legal entity from its members and directors. Members have limited liability Can sue or be sued in company's name Can own property in company's name Members not personally liable for debts and losses of company | A separate legal entity from its members
Can sue or be sued in cooperative's name
Can acquire, hold and dispose of properties
Can enter into contracts
Members liability limited to the extent of their capital contribution in the society
No person shall be admitted to membership who is legally or mentally disabled or who is a bankrupt or against whom a conviction stands for an offence punishable with imprisonment
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| Registration requirement | Age 18 years or above. Brunei Citizens and Permanent Residents only Undischarged bankrupt cannot manage business without court or Official Receivers' Approval | Age 18 years or above. Brunei Citizens and Permanent Residents only Undischarged bankrupt cannot manage business without court or Official Receivers' 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 Receivers' Approval At least two shareholders | Age 18 years or above
Brunei Citizens and Permanent Residents only
Consists of at least thirty persons
Person who is legally or mentally disabled or who is a bankrupt or convicted of an offence punishable with imprisonment are not qualified for membership and not allowed to manage the business
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| 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 | Costlier 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 | Capital is contributed by all the members
Established by those with common interest and needs
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| Set-up fee | $30 registration fee | $30 registration fee | $300 incorporation fee | $15 registration 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 | Exists as long as the members have the desire to continue to run the cooperative
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| Closing of the business | By owner – Cessation of business | By partners – Cessation of business or dissolution of partnership | Winding up – Voluntarily by members, compulsorily by the High Court Striking Off | Winding up - Voluntarily by members and by an order of the Registrar
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