Business Set Up in Bahrain
If you are planning to set up a business in Bahrain, you have made a wise decision. Over the years, Bahrain has established itself as a leading business hub in the Gulf region, attracting investors from around the world. Helpline Group is there for you. We will guide you through the entire process, the procedures involved, the benefits of starting a business in Bahrain, and much more.
How to Set Up a Business in Bahrain?
The first step to set up a business in Bahrain is to choose a legal structure for your company. The types of legal structures available in Bahrain are WLL, foreign branch, representative office, public shareholding company, closed shareholding company, joint liability company, limited partnership, a company limited by shares, and single-person company. Helpline Group can assist you in picking the right business type.
The second step is to choose a trade name for your company. The trade name should be unique and interesting and should reflect the nature and objectives of your business. You will need to decide on both an English and Arabic version of your trade name for approval.
The third step is to register your company with the Ministry of Industry, Commerce, and Tourism (MOICT). You will need to submit the required documents and fees, which may vary depending on the type of company and activity you choose. Some of the common documents include:
- Application form
- Memorandum and articles of association
- Passport copies of shareholders and directors
- Bank certificate or proof of capital
- Trade name reservation certificate
- Local agent or sponsor agreement (if applicable)
- Business plan (if applicable)
The MOICT will issue a Commercial Registration Certificate (CRC) once your company is registered. The CRC is valid for one year and can be renewed annually.
What Are the Procedures to Set Up a Business in Bahrain?
After obtaining the CRC, you will need to complete some additional procedures to start your business operations in Bahrain. Here are some of the procedures that need to be followed:
- Choose a legal structure for your company, such as a WLL, a foreign branch, or a representative office. You will need to understand the pros and cons of each type of legal structure, such as the liability of the shareholders, the minimum capital requirement, the foreign ownership limit, and the tax implications.
- Choose a trade name for your company and get it approved by the MOICT.
- Register your company with the MOICT and obtain a commercial registration certificate. You will need to submit the required documents and fees, which may vary depending on the type of company and activity you choose.
- Open a bank account for your company in a local or international bank in Bahrain. You will need to provide your CRC, Memorandum, and Articles of Association, passport copies of shareholders and directors, and other documents as requested by the bank. You will also need to deposit the minimum capital required for your company in the bank account.
- Lease office space for your company in a suitable location in Bahrain. You will need to find a location that meets your business needs and budget. You will also need to sign a lease agreement with the landlord and register it with the MOICT. You may also need to obtain approvals from other authorities, such as the municipality or the civil defense, depending on the nature and location of your office.
- Obtain licenses or permits from relevant authorities for your business activity, such as the CBB, the MOCT, or the MOW. Depending on the type of business activity you choose, you may need to obtain specific licenses or permits from various authorities in Bahrain. For example, if you are engaged in financial services, you will need to obtain a license from the CBB. If you are engaged in tourism or hospitality, you will need to obtain a license from the MOCT. If you are engaged in manufacturing or industrial activities, you will need to obtain a license from the MOW.
- Hire employees for your company and register them with the Social Insurance Organization (SIO) and the Labour Market Regulatory Authority (LMRA). You will need to hire employees for your company in Bahrain. You can hire both local and foreign workers, but you will need to comply with the labor laws and regulations in Bahrain. You will also need to comply with other obligations, such as paying wages, granting leaves, providing contracts, etc.
In general, these are some of the main procedures to set up a business in Bahrain. However, there may be other steps or requirements depending on your specific situation and business activity. Therefore, it is advisable to consult with a professional business consultant or lawyer before setting up a business in Bahrain. We at Helpline Group are one of the top company formation service providers in Bahrain. We can assist you with all the formalities and procedures required to start a business in Bahrain. We also can help you hire your workforce, visa immigration, trade licensing, and other formalities needed.
With more than 25 years in the industry, we are the one-stop solution for all your personal and commercial needs. Feel free to call us to know how to set a business in Bahrain and its related assistance. Our phone numbers are (+973) – 39 413 777 or (+973) – 17 413 777.