Registration of companies in Bahrain, opening an account in one of the country's banks
The Kingdom of Bahrain is rapidly developing in the Middle East region in various areas of business, oil business and beyond. To attract investors, the government stimulates the trade and financial sectors of the economy, emphasizing low tax rates and the possibility of creating an offshore business. Bahrain is the natural gateway to the Gulf, with particularly favorable access to Saudi Arabia, the region’s single largest market and economy.
The first step is to obtain a commercial registration or CR. It is necessary to provide the name, citizenship, contacts, passport details, type of activity, address. Other information may be requested by the Ministry of Industry, Trade and Tourism if needed.
The law establishes the minimum amount of capital at the level of 10 thousand dinars. All capital must be divided into equal shares, the minimum amount of which is 50 dinars. The law prohibits the division of shares and put them into free circulation. To register a company, it is necessary that all shares are paid up and distributed among the shareholders.
Bookkeeping in Bahrain
VAT - No;
Basic corporate tax rate - No;
Capital gains tax - No;
Currency control - No;
Corporate tax rates detail - 0% (except for companies engaged in the oil and gas, for which the rate - 46%);
Stamp duty - No.
If you are interested in company incorporation in Bahrain Andumpark Limited can assist you. Simply send us an email or call now to take your business to the next level!