Bahrain is becoming a huge attraction for good investment opportunities from the past few years. According to the World Bank report of 2019, Bahrain has ranked as one of the best places for doing investment and starting a business.
Investors from all around the world are now confident that Bahrain offers a very good investment environment, which brings us to the importance of forming a company in the kingdom of Bahrain.
Bahrain is a kingdom which is made up by a group of islands; it is located in the stretch of the Qatar peninsula and the north-eastern coast of Saudi Arabia. The govt. of Bahrain is very business friendly and it welcomes FDI in Bahrain with open arms. As a result, the economic laws of the Kingdom have been significantly liberalized. Also, the policies of Visa & immigration are made easier to encourage business development and ease the process of setting company in Bahrain.
Private companies especially from IT, tourism, Education, Banking, Healthcare and financial services & insurance (BFSI) are flourishing in Bahrain.
Bahrain focuses on the development and offers a business-friendly environment that is cosmopolitan, safe and unsurpassed in the Arabian Gulf.
Steps to set up a small business in Bahrain
To start a business in Bahrain, the company incorporation procedure of Bahrain must be followed. Following steps will help you to set-up your business in Bahrain:
- Registering a company name: First, you need to register your company name which would identify your business forever. The Ministry of Industry and Commerce (MOIC) has mentioned some guidelines which should be followed while selecting a business name. An entrepreneur is free to propose up to 4 business names at a time.
- Commercial registration of the company: The commercial registration papers are released by the Bahrain Investment Centre; they issue the papers after checking & ensuring that there is no fault in the initial stage. These papers are given after paying the required fees.
- Licensing and approval process: Licensing and approval are required when a company or business does not get their Commercial Registration papers right away. Thus owners need to follow this additional step for registering company in Bahrain.
- Other Approvals: Once the company is registered successfully, the next step is to open a company bank account, and then lease an apartment for office space, and then hire Bahraini employees.
Establishing a business in Bahrain guarantees a huge earning potential, benefits of various tax exemptions, convenient facilities, state-of-the-art infrastructure, and liberalized public policies along with free trade barriers.