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Company Establishment in Bahrain
For business people wishing to start their own businesses, Bahrain is a perfect place being an emerging commercial center. With their good location, infrastructure, and business-enabling regulations, Bahrain presents a less restrictive environment for businesses at any level. If you have thoughts about starting a business in Bahrain, there is need for a trustworthy guide. That’s where Black Swan fits in. We have a team of experts who are always there for you to ensure that the process of setting up your company is as uneventful as possible.
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Business Experts in Bahrain
Why Choose Bahrain for Company Establishment?
Before entering into the process of establishing a corporation in Bahrain, one should know what makes this country attractive to entrepreneurs. Below provides some key reasons why Bahrain is regarded as the most suitable place for establishing your business:
- Strategic Location
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Bahrain enjoys a central position in the Gulf region making it easy for companies to access major Middle East, Asia and Africa markets. Its closeness to Saudi Arabia, one of the biggest economies in the area gives it a competitive edge among businesses looking to expand their reach.
- Favorable Business Environment
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The Bahraini government has policies that are friendly to business, thereby attracting foreign investors. For most sectors, foreign investors can possess up to 100 percent of their businesses; which makes it easier for them to do business without having a partner from that country. Business owners are also allowed to take their profits out of the country without limitations.
- Competitive Costs
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Operating costs in Bahrain are lower compared to other countries in the Gulf Cooperation Council (GCC). It is generally cheaper setting up and running companies here owing to office rent, utilities and labor costs especially when compared with either GCC member state.
- Strong Infrastructure
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There has been an extensive investment into supporting business operations infrastructure-wise within Bahrain. For instance, it has efficient modern transportation networks, high speed internet and well developed financial services among others. These factors together with Bahrain International Airport as well as King Fahd Causeway linking Saudi Arabia hence making doing business easier.
Setup Your Business in Bahrain
Types of Business Entities in Bahrain
When establishing a company in Bahrain, there are several types of legal structures that you can choose from depending on your business needs and objectives. Each of these has its own benefits, and it is important to select the right one for you to be successful. Below are some types of business entities that are commonly found in Bahrain:
- Limited Liability Company (WLL)
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The Limited Liability Company (WLL) is one common type of business entity in Bahrain. It is suitable for small businesses and medium enterprises. A WLL requires at least two shareholders and at most fifty. Shareholders’ liability is capped at their contribution to the company’s capital. This structure allows foreign investors to own 100% of the company in most sectors.
- Single Person Company (SPC)
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An SPC is a company that is owned by only one person, whether a foreigner or Bahraini national. This kind of entity is perfect for sole proprietors or small business owners who wish to keep complete control over their undertakings". The share capital determines the liability of the owner to the extent of their investment in it.
- Branch of a Foreign Company
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Foreign companies are allowed to have branches in Bahrain for the purpose of doing business. This branch operates just like its parent company does and can engage in similar commercial activities. But the parent company is responsible for all the branch’s obligations or debts.
- Partnership Companies
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Partnerships are business entities that involve two people or more when they want to share profits, losses and responsibilities between themselves. In Bahrain, such partnerships could be general or limited depending on how each partner would be willing to carry the liability.
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Steps to Establish a Company in Bahrain
Setting up a business in Bahrain has several key steps. In order to make sure you understand all the steps required for this process to go smoothly, there is need to take notice of each and every one of them. At Black Swan, we make it easier for you by taking care of every aspect of your company creation process. Below are main important steps when establishing your company in Bahrain:
- Choose a Business Activity
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The first stage of starting up your own company is defining the type of business activity you will be involved in. Bahrain offers various business activities and it is important to choose one that suits your goals. We can assist you with choosing an appropriate business activity whether you want to work under finance, industry, retails etc.
- Choose a Company Structure
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As mentioned earlier it’s importance to choose correct legal form for your company.Our experts from Black Swan will assist you in selecting the most appropriate form whether it’s a WLL,SPC or branch office.This choice impacts on how the business runs including matters of liability,tax obligations and ownership.
- Register Your Business Name
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What follows after determining your line of trade and company structure is naming of your business. Registration demands that you come up with a certain name that should be solely yours as per Bahrain’s regulatory requirements concerning naming.Our team can run a name availibility check for you besides helping create one that meets all requirements.
- Submit Required Documentation
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The procedure for forming a company in Bahrain entails making submissions with respect to a number of documents to the Ministry of Industry, Commerce and Tourism (MOICT). Typically,this may include among others:
- A completed application form
- A copy of the shareholders’ identification
- The company’s articles of association
- Proof of office address
- Obtain Approvals and Licenses
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There are some operations that are run by people in Bahrain that needs specific licenses and approvals from offices that concern themselves with them. For example, banking, insurance, telecommunications sectors need special licenses. I would like to let you know that our team is willing to help you get your business approved and licensed.
- Open a Bank Account
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When starting a company, one of the first things that you need to do is have an account with the bank that you will use for your business in Bahrain. You have to carry some papers that would include incorporating documents for your company and showing that you are truly in business. If necessary we could provide support in choosing the appropriate bank as well as helping in filling the forms for creating an account.
- Register for Tax and Social Insurance
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In Bahrain companies do not pay personal income tax but they have to go in for Value Added Tax (VAT) once their annual turnover reaches a certain limit. Besides this for their employees social security benefits various companies are required to be registered with Social Security Organization (SIO).
- Hire Employees and Begin Operations
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After registering your company and completing all necessary formalities you can recruit staff as well as start operations. Recruitment payroll administration alongside other HR related activities can be done by Black Swan to help you out.
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Why Choose Black Swan for Company Establishment in Bahrain?
We take pride in our capability to deliver comprehensive business setup support that corresponds to our clients’ specific operations. You may be a small startup or a big international firm but we have seasoned specialists who can help walk you through it all for a pleasant process.
- Expert Knowledge
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Our team has extensive experience in assisting businesses start up in Bahrain. This means we have expertise in local rules and regulations. We always keep ourselves updated with the most current legal requirements to ensure your business is compliant at all times.
- End-to-End Support
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For end-to-end service offerings; starting from the first consultation through after your business has been legally constituted- trust us with all your needs. An array of business setup services covers company registration and licensing together with office setup and staff recruitment among other things.
- Customized Solutions
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Every organization is different in its own unique way that is why we give personalized solutions based on one`s requirements therefore if you want company structure advice selecting sites and getting licenses we are there for you. The company provides individual backing which means a true understanding of every client.
- Timely and Efficient Service
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We understand time is money at Black Swan we ensure that the process of setting up your company in Bahrain is quick and efficient as possible. This prevents any delays during set-up process as well as ensures its smoothness through streamlined expert knowledge-focused processes that we always use.
Starting a business in Bahrain requires strategic planning as the country offers a good environment. It provides a good location and infrastructure which makes it the best place for this purpose. The process of establishing a company becomes simple and direct when using Black Swan. Our experienced team will assist you throughout the entire procedure right from selection of the right corporate structure to acquisition of required authorizations. Black Swan will help in Business Opportunities in Bahrain.
Are you prepared to make the leap and start your enterprise in Bahrain? Then do not hesitate to get in touch with Black Swan for advice on how to actualize your idea.
