Bahrain is a classic offshore and attracts investors from abroad, since there is no direct taxation in this state. A corporation established on the territory of the kingdom does not pay income tax and tax on its turnover. Foreign entrepreneurs, most often, choose the WLL Company form for their enterprises, which corresponds to a society with a limited type of liability.
The corporate environment is regulated by the Law on Business Enterprises, passed in 2001. Local legislation is quite loyal to foreign businessmen, however, it provides for the presence of a resident co-founder in a foreign company. Usually, this person actually runs the firm, while the non-resident partner finances the structure.
The establishment of a company in Bahrain consists of the following several stages.
The whole procedure is not that complicated, so there are no serious difficulties for foreign entrepreneurs.
First of all, a foreign investor should find out whether non-residents in Bahrain are allowed to engage in the activities that he has chosen for himself. For example, foreign businessmen cannot work in the field of insurance and banking services. In addition, a number of industries require a special license permit.
1 person can act as the founder of the enterprise, however, it will be necessary to hire a manager who must be a resident. When registering, the amount of the authorized capital is clearly determined, the time frame during which it will be paid is indicated, and in what order. For an LLC in Bahrain, the minimum capital requirement is RSD 20,000.
The amount of time it takes to register a company depends on the organizational form of the company. On average, the process takes about 12 weeks.
If you need to register a company in Bahrain, our specialists will help you register a company quickly and efficiently. Also, you can buy a ready-made company in Bahrain. Write to us in the CRM form and we will help you register a company.
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