Bahrain is a small nation that is situated in the Persian Gulf and has developed itself into one of the biggest global powerhouses leading in both industrial and business sectors. Over the years, Bahrain has witnessed a steady and substantial growth in different domains ranging from Hospitality, Oil & Gas, Engineering, Financial Services etc. This has been an important reason in attracting various investors from across the globe by creating new business opportunities for various people across the world.
Steps involved in company formation in Bahrain
The process of Company Formation in Bahrain is time consuming and complex process. Some of the steps initiated are as follows
Selection of Legal Structure
There are certain business entities that has to be selected before starting a company in Bahrain. Some of the common business entities in Bahrain are With Limited Liability Company (WLL), Partnership Company, Foreign Company Branch etc.
Choosing a Company Name
A proper unique name has to be selected before registration of company and has to be in accordance with the guidelines set by Ministry of Industry & Commerce (MOIC).
Submission of Relevant Documents
The relevant documents has to be submitted for companies and individual investors and the papers has to be made available at Bahrain Investors Center (BIC).
Licensing & Approval
This is the final step that is required for approval of a company and is used to validate the formation of company without any hassles or issues.
WHAT HAS BEEN THE IMPACT OF COMPANY FORMATION ON THE ECONOMY OF THE NATION?
The formation of new businesses and enterprises has ushered in a new era of growth and development. The development of new enterprises and businesses has had a positive impact on various business and commercial activities and has enabled them to soar greater heights in their professional sphere of life. Also, the advent of new companies has created better opportunities for people across the globe and helped them take rapid strides in their professional career.