Step by Step Procedure to Set Up a Business in Bahrain

Foreign investors are choosing Bahrain to expand their business due to its growing economy, tax benefits, and the support the Bahrain government provides for exports and manufacturing. Investors are choosing Bahrain because it acts as a gateway to the Gulf region. Opportunities in Bahrain are vast, whether it is a start-up or a multinational company. Bahrain is a good choice to expand your business network.

How to Set up Your Business in Bahrain?

The Ministry of Industry and Commerce is the authorized department that handles business registration in Bahrain. Foreign investors should acquire a commercial registration certificate to start a business in Bahrain. The business setup process in Bahrain varies based on the nature of the business and also based on the ownership structure.

After choosing the type of business you will need to follow these steps to complete the registration process in Bahrain.

Security Clearance

The Ministry of Clearance would do the background check to provide the security clearance. You need to provide ID proof and documents of the business owners and directors. The required documents will be passport copies, KYC forms, and Authorization letters.

Registration of Business Name

The company name should be chosen properly, and make sure that the chosen name is not already registered or confusingly similar to a registered one. Ministry of Industry and Commerce (MOICT) will check the availability of the name. If the name is similar to any other business, then it will be rejected so proper trademark search should be done for the approval of the business name.

Submission of Memorandum and Articles of Association

This must be prepared based on the business structure and should be notarised by the Ministry of Justice. These documents are submitted to provide details regarding the company structure, operating procedure, share capital, and objectives.

Obtain a Company Address

You should have a registered office in Bahrain to carry out your business operations. You can choose a physical workspace, a shared workspace, or a virtual office. Get approval from the relevant authorities for the chosen workspace.

Corporate Bank Account

You need to open a company bank account by providing the relevant documents for your business operation such as the Memorandum and Articles of Association. Make a minimum capital deposit which is required for the chosen business structure. The minimum deposit will vary based on the business structure.

Approval from the Ministry of Industry and Commerce(MOIC)

This is the final approval that you should obtain to complete the business setup in Bahrain. This approval is to make sure that your business is compliant with the regulations of the country and has legal permission to do business. You need to provide the bank details and a notarized memorandum for this approval.

What are the Documents Required to Set up your Business in Bahrain?

Application form for company registration
Copy of Memorandum of Association
Copy of Articles of Association
ID proof
Power of attorney

What are the Advantages of Setting Up Your Business in Bahrain?

There is no restriction for choosing the work location you can choose the area that suits your business.
Operating cost is less
Good infrastructure for business
In most business sectors there is 100% foreign ownership and thus you can select your partner.
Market Stability
Low tax rate when compared to other regions
Business maintenance requirements are low when compared to other GCC countries.

Hire the Best Business Consultant to Set Up Your Business in Bahrain.

Investors are looking for business development opportunities and Bahrain is the right choice for this, choose any business structure to expand your network. While setting up a business several factors must be considered such as the registration process, tax implication, and types of companies available. To carry out the business setup easily in Bahrain you need to hire a business consultant.

Jitendra Consulting Group, Bahrain is one of the best business consultants in the GCC region. Our team consists of many legal professionals who have expertise in setting up offshore companies globally. This would provide our clients with the opportunity to enjoy the benefits of the integrated network. Jitendra Consulting Group, Bahrain has worked with several organizations in different parts of the world, to set up their operations as a free zone company, offshore company, or LLC. We assist our clients with the official procedure of trade license, bank account formalities, providing local sponsors, formation of offshore companies, or providing IP-related services.