Foreign investment in finance companies, as well as in remittance business, is subject to local incorporation.
"ANNEX III - Section A 
Sector: Financial Services
Sub-Sector: Finance companies
Obligations Concerned: Market Access for Financial Institutions (Article 11.5)
Level of Government: Central
Measures: Finance Companies Act (Chapter 89)
Description: A finance company must be established as a company incorporated in Brunei Darussalam." (ANNEX III - SCHEDULE OF BRUNEI DARUSSALAM, Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP))
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"PART I - PRELIMINARY [...]
Interpretation.
2. In this Act, unless the context otherwise requires � [...]
�financing business� means the business of � (a) borrowing money from the public, by acceptance of deposits and issuing certificates or other documents acknowledging or evidencing indebtedness to the public and undertaking to repay the money on call or after an agreed maturity period; (b) lending money to the public or to a company on the basis that the public or the company undertakes to repay the money, whether within an agreed period of time or not, or by installments, and shall include the business of financing hire-purchase  transactions arising out of hire-purchase agreements, where the money used, or to be used, for such business is borrowed from the public; 
[...]
�public company� means a company incorporated in Brunei Darussalam other than a private company. 
[...]
PART II - LICENSING OF FINANCE COMPANIES
Application for licence.
6. (1) As from the date of the coming into operation of this Act, any public company proposing to conduct financing business or Islamic financing business in Brunei Darussalam shall, before commencing any such business, apply in writing to the Authority for a licence under this Act. [...]"(Finance Companies Act, 2013 [CAP. 89])
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" 5. (1) No person shall carry on any money-changing business unless he is in possession of a valid money-changer's licence.
[...]
6. (1) No person shall carryon any remittance business unless he is in possession of a valid remittance licence.
[...]
7. (1) Any person who desires to obtain a licence shall make an application to the Authority in such form as the Authority may require. 
2) Upon receiving an application under subsection (1), the Authority shall consider the application and may grant a licence with or without conditions o rrefuse to grant a licence without assigning any reason therefor. [...]" (MONEY-CHANGING AND REMITTANCE BUSINESSES ACT, as amended)
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"I. Application for Remmitance Licence
The following sets-out the Authority's expectations when considering applications for a remittance licence under section 7 of the Money-Changing and Remittance Business Act [...]
Licensing criteria:
General criteria
An applicant must be incorporated as a company in Brunei Darussalam and fullfill governance and ownership requirements set out below:
Governance and Ownership Requirements:
Applicants must be incorporated in Brunei Darussalam and have at least two directors.
- If there are only two directors, one of the executive directors must be a citizen of Brunei Darussalam and the other director must be ordinarily resident in Brunei Darussalam.
- If there are more than two directors, one of the executive directors must be a citizen of Brunei Darussalam and at least two of the other directors must be ordinarily resident in Brunei Darussalam.
Where a company is locally owned, more than 50% of the equity shareholdings must be beneficially owned and effectively controlled by citizens of Brunei Darussalam and a majority of the board of directors of the company must be citizens of Brunei Darussalam. [...]" (Brunei Darussalam Central Bank, "Guide to Brunei's Darussalam Financial Sector: Opprtunited in the Financial Sector", January 2024)
ANNEX III - SCHEDULE OF BRUNEI DARUSSALAM, Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
Finance Companies Act, 2013 [CAP. 89]
MONEY-CHANGING AND REMITTANCE BUSINESSES ACT, as amended
Brunei Darussalam Central Bank, "Guide to Brunei's Darussalam Financial Sector: Opprtunited in the Financial Sector", January 2024
[<a href="https://www.mfat.govt.nz/assets/Trade-agreements/TPP/Annexes-ENGLISH/Annex-III.-Brunei.pdf">CPTPP</a>],[<a href="https://www.agc.gov.bn/AGC%20Images/LAWS/ACT_PDF/cap089.pdf">Act</a>],[<a href="https://www.agc.gov.bn/AGC%20Images/LAWS/ACT_PDF/Chp.174.pdf">Act</a>],[<a href="https://www.bdcb.gov.bn/SiteAssets/Guide%20to%20Brunei%20Darussalam%20Financial%20Sector%20(as%20of%202%20January%202024).pdf">Guide</a>]