As Bahrain foreign company registration process the following steps should go through :
- First of all company proposed name should be approved from government office then next steps: Ensure your business address, office, share holding formalities, incorporation certificate and another business license from local/ other government organs;
- Number of share members should be two to fifty to incorporation fresh enterprise;
- One of share member must be citizen of Bahrain where share containing shall be less than fifty one percent;
- To forming a fresh organization share capital should be BD twenty thousand with minimum two directors in Bahrain Foreign Company Registration;
- Business setup by single is allowed ensuring capital sum of fifty thousand BD, provided that involve in commercial activities are not permitted to Bahrain foreign company registration;
- Fully own nonresident enterprise is allowed by law;
- To begin a public entity minimum number of share members should be seven where lowest share capital should be BD one million;
- Government of Bahrain inspire foreign investors to begin trading and generate revenue and pay taxes as law;
- Foreign banks and local banks are available to cooperate investors to open bank account and enjoy credit as banking policy;
Note: We provide company registration service in Bahrain for foreigner.
More discussion on new company registration process in Bahrain for foreigner:
Plan of economic development
The Kingdom of Bahrain collectively expressed an interest in accelerating economic development in October 2008 when King Hamad bin Isa Al Khalifa launched Bahrain’s “Economic Vision 2030” plan to foster commerce. The Bahrain Investors Center (BIC), a dedicated agency within the Kingdom’s Ministry of Industry, Commerce and Tourism is tasked with attracting business in conjunction with the semi-private Bahrain Economic Development Board. The Bahrain Economic Development Board’s international representatives are available as the first point of contact for foreign commercial entities.
Company Commercial Registration
Representatives of general partnerships and corporations seeking to do business in the Kingdom of Bahrain should provide the completed Company Commercial Registration (CCR) application form, available online for citizens of GCC countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE) through the Sijilat Commercial Registration Portal and at the BIC, located on the second floor of the Harbor Gate building in Manama, Bahrain for Bahrain foreign company registration.
Company Registration Requirements
Requirements of company registration in Bahrain include power of attorney for a registration agent if one is enlisted, drafts of the Memorandum and Articles of Association, the Declaration (if the application is for a one person company) or a resolution from a board of directors, in addition to a commercial lease agreement obtained by the municipality’s representative at the BIC (in place of a lease agreement, the address of the representative law firm can be used for up to three months). Applications should also include copies of any commercial agency, distribution, franchise, or licensing agreements. Foreign applicants should also include a copy of their passport and visas in addition to an auditor’s report and a reference from a licensed bank anywhere in the world, or from any of the financial auditors and law firms within the Kingdom.
Time frame of company registration in Bahrain
As Bahrain foreign company registration process applications at the BIC can be completed within a few working days but approvals must be obtained from various ministry representatives, each of which require between one and three working days. The local municipality requires three working days to approve a lease agreement and the ministry requires one working day for the preliminary approval of a commercial registration, for which a lease agreement is a prerequisite. Upon obtaining the lease approval from the municipality and the required preliminary approval from the ministry, the memorandums and articles should be notarized by the Ministry of Justice’s representative at the BIC. Prior to issuance of the certificate of registration by the BIC, an account must be opened at a commercial bank based within the Kingdom and a capital deposit certificate issued. With the capital deposit certificate, a lease agreement approved by the municipality, and the memorandum of association notarized, the BIC will then issue the commercial registration certificate within one working day. The commercial registration of a company is completed when the certificate is issued, after which the newly minted company is obligated to publish its incorporation notice in the official gazette and register itself and its employees with the General Organization for Social Insurance (GOSI).
Other obligation of commercial registration
Commercial registration in the Kingdom of Bahrain is also available online to GCC citizens. Sole proprietors should include the completed Individual Commercial Registration (ICR) and commercial name application forms, available at the BIC. Applicants should also include copies of their Central Population Registry (CPR) identification card, passport, a proof of residency within the Kingdom such as copies of a rental contract, and if the applicant is employed: a signed “no objection” certificate (NOC) provided by the employer. An additional consideration for married female applicants, as described by the World Bank, would be a signed approval from the husband to leave the residence, as the Kingdom’s family law entails forfeiture of alimony if the applicant leaves home without permission.
Joint Stock Company in Bahrain
- To register such organization number of directors shall be ensured three to twelve with holding local shares fifty one percent of the whole numbers;
Branch Office Open in Bahrain
- Commercial transactions are allowed here for this type of area office;;
- There are different approval papers of the mother corporation with attested by embassy;
- Meeting decision from sponsors;
- Power given a human , local agent, who shall proceed taking liabilities in favor of mother organization;
- Local sponsor appoint, permission from Ministry of Commerce and Industry;
- About more a month (4 weeks ) might needful to complete registration process;
- Enclosed documents conversion in English;
- Banks, local and international, are available to cooperate them opening account and credit facilities;
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