Bahrain being among the world’s largest economy has always been the center of attraction for the foreign investors. Moreover, the facilities Bahrain provides with include the easy company registration process along with a lot of prevligies that comes with it, has been a sigh of relief for the foreign investors for a long time now. The access to the world’s major Arab countries of GCC has made it a best place for the company formation and it brings a large outdoor to the world’s largest markets.
Bahrain has always welcomed the new investors with an open heart and even now has launched an online registration process too. This process makes things easy and accessible too. The price and duration for the registration of the company Bahrain has also been reduced and this has been an important revolution Bahrain has obliged for the investors.
Steps of Registration of With Limited Liability Company
A WLL will have a 100% ownership that means there is no restriction of having a local sponsor and hence is a big attraction for the investors. In this type of partnership, each partner is liable to the debts and profit with respect to their share in the company. There is a pre requisite of at least 2 partners or the promoters or the directors for this company being setting up.It can have up to 50 shareholders and can start with the capital of as low as 1000 or 2000 BD. It can carry out a wide variety of functions on the local scale including the banking, investments and insurances. The legal structure of such a company is designed in a way that will minimize the international tax payments and hence is the center of attention for the foreign investors as it will yield the maximun profit for them. External Auditor is required for such a company and such company needs to give yearly finance repost to the Ministry too.
Bahrain company registration is an easy process if you go with a strategic planning and follows the guidelines, and then you will not be facing any hurdle so far. First of all, you should be well aware of the activities that you are intended to do after your registration of company and then you need to devise the structure of the company according to that. There are many types of companies that you can go for. For that you can contact us and have the details on hand. And then choose which one you should go for. You should be aware of the activities of the business that you will be carrying out in future. With that, you should make Appointment Letter of the Director so that your work can ho in a systematic manner.At this time, allocate the shares to the respective shareholders and make Consent Form of the Shareholders. A share can not be less than 50BD. Partner Resolution Form, is also required in case of WLL and moreover you need to have NOC too. Devise a proposed Article of Memorandum and articles of Association for the company formation too. This includes the basic things about the type of business, the details of shares and the activities and address of your business.
Moreover, the place where you want to set up the business should be leased before because, without that, you can not set up a company in Bahrain. With these things done, you can submit the application in the Ministry of Industry, Commerce and Tourism MOICT, BAHRAIN.
Then you need to finalize the name for your company and for that you have to undergo a search process at the Commercial RegistrationDirectorate at the Ministry Of Commerce and Industry and you can then get a list of available names for your company and then you can choose from it. The name should be easy but at the same time, it should be catchy. It should mention the activity that you are going to perform in the business or the service you will be providing after the registration of your company. It should be easy to be called out and easy to get remembered.
Share capital Deposit is also one of the pre requisites for the company formation in Bahrain. That can be obtained after depositing the share capital in a Bahrain bank.
The following documents are to be submitted with the Ministry of Justice and the Commercial registrar.
- Name Reservation Application
- Lease of the place of the office
- Form of Allocation of Shares
- Proposed Article of Memorandum and Article of Association
- Due diligence of the Directors or the Shareholders
- Power of Attorney in case of an agent
- Passports of the Directors
- Passports of the shareholders
The Certificate of Incorporation will then be certified by the Commercial registrar and then you are good to start the work. It takes almost 12 weeks for a full-fledge company formation process in Bahrain
Labor Market Regulatory Authority LMRA should be then contacted to attain a work visa. Then after the attainment of the Visa, you can apply for the Corporate Bank.
Bahrain company registration is a smooth process owing to the presence of Bahrain Investor Center BIC that allows the approval of licenses and documents from the Ministry Of Commerce and Industry.
Fee of Company Registration and Licenses
Bahrain company registration is done in 25 to 1000 BD depending upon the activity of the business.
Duration of Company Registration and Licenses
Bahrain company registration can be done in up to 5 working days if you are well acquainted with the infrastructure of Bahrain and the steps of company registration, then the process will be flying smooth.
Commercial Registration CR now can also be gained online by the facility known as SIJILAT that has been specially designed by the Ministry of Industry, Commence and Tourism. With this, you can not only have a CR, but also access toa wide variety of activities and names of other commercially registered companies. It also issues all types of licenses and has greatly smoothens the process by having all the portals of the Ministry on a same page so that they work hand in hand to help the foreign investor have the maximun benefit. The process is simple and starts with the submission of the application and then you have to attach the Proposed Article of Memorandum and Article of Association with the bank deposit and lease and submit it to the SIJILAT. The requirement of the documents can vary from company to company.
You need to start with having an E key so that you can go for the process yourself if you have the enough guidance and are well acquainted with the processes. This process allows you to work without the shop even. This has been the biggest innovation in the history of Bahrain civilization since May 2016.
Moreover, this process is changing day by day to help and attain more and more diversity of services included in this so you need an agent who is well aware of the details and will guide you to the right path. But this process has made you leave the lawyer because there are templates of every form there. You just need to full in and there you go.
Bahrain not only provides the lucrative opportunities but also the boosts the investors with the easy steps to incorporate a company in Bahrain. Moreover the strategic location of Bahrain in the middle east is the gateway to a whole new world of Arab market because it provide the duty free access to the Gulf Corporation Council. There is no liability of personal income tax or corporate income tax. Moreover there is not VAT or sales tax applicable that will enhance the profit. The infra structure of Bahrain is the best to foster the competitive and feasible environment of work for the companies to flourish. There are a lot of facilities for transportation. Moreover, with Arabic being the national language, English is also widely spoken that make the whole process run smoothly.
WHY CHOOSE US?
We, the S and F Consulting Limited are here to help you with what you want. Though the process of company formation in Bahrain is a simple one but it goes with the ample knowledge and strategy. Here we are, available to you, with our strategic planning and endless endeavors to help you register your company in Bahrain. We are well equipped with the new process and changes and can help you have a best land at the most suitable price for lease. Lets join our hands and give us the opportunity to make this path to success an easy one for you. We will stand with you and will work for you at the reasonable price. You can entrust us after seeing our reviews which will show you our devotion and honesty towards our work. Hoping to listen from you soon.