Located on the sandy archipelago of the Persian Gulf of the same name, the Kingdom of Bahrain, with its capital in Manama, occupies three fairly large islands, as well as many small ones located to the east of the islands of Saudi Arabia. The countries are connected by a road bridge.
The area of the Kingdom of Bahrain is about 760 km2 and 46% of the population are Bahrainis.
Bahrain’s economic development is based on a policy of diversification. Today, many multinational companies conduct their business in Bahrain. Oil, petroleum products, textiles, aluminum are exported from the state.
Another reason that many seek to register a company in Bahrain is the stability of the government, as well as the introduction of a whole system of incentives for investment and business opening in the country. Today it is a tax-free economic zone (including VAT).
Unlike other Islamic states, Bahrain’s banking system has an interest rate on loans; The commercial banking sector (including international, offshore and Islamic banks) has a good level of development. Bahrain has court-ordered liquidation laws and a bankruptcy law, as in all developed countries of the world.
The registration of a company in Bahrain takes place in accordance with the Commercial Companies Act (2001) and its exclusive provisions. Among other regulatory acts are orders of the Ministry of Commerce.
Company management:
- The company is managed by one or more managers who are not partners;
- There are no requirements for the board of directors, except in cases when the number of partners is more than 10 people;
- The manager has the right to sign on behalf of the company, except when any restriction is made to the constituent agreement;
- A company can have at least two shareholders, a maximum of 50.
Authorized capital:
- It is possible to register a company in Bahrain with a minimum capital of 20,000 Bahraini Dinars (BHD);
- The capital should be divided into equal shares (from 50 BHD each);
- The shares are not subject to division and cannot be in free circulation;
- The company can be registered only after the cash shares, fully paid, are distributed among the partners.
Other requirements:
- The office should be located on the territory of Bahrain, and the company should conduct its activities outside the jurisdiction.
- The exceptions are the types of activities that require licensing;
- The name of the company must have the ending Company with limited liability (W.L.L.);
- A limited liability company has no right to engage in banking, insurance, investment of third-party funds in Bahrain.
Companies registered in Bahrain are exempt from income tax. The exception is the activity of companies engaged in the gas and oil sector;
Passing an audit and maintaining accounting records are mandatory requirements.
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