The Bahraini government has and continues implementing various reforms to promote entrepreneurship and foreign investment. Setting up a business in this part of the world is very straightforward with 100% foreign investment ownership in most business activities, a robust ecosystem, and minimal administration compared to other nations in the region.
If you’re yet to do business in Bahrain, then there is no other better time to make this all-important investment decision than now. In this simple guide, we uncover some of the reasons why Bahrain continues attracting foreign businesses.
Tax Incentives for Business
Quite similar to its GCC neighbors, there is no personal income tac or withholding tax on dividends. But unlike other countries in the GCC, there is no income tax. Ever since the introduction of 9% corporate tax in the UAE in the last year, businesses are now considering their options.
You’d be surprised to learn that Bahrain the now the only nation in the GCC yet to apply 0% corporate tax rates which makes it even more appealing for new and existing businesses entering the market. No wonder you should consider doing business in Bahrain.
Maintaining Residency in Bahrain
Maintaining Bahrain residency requires minimal effort. There are no minimum stay requirements, no conditions to visit every 6 months, and the process to renew a resident permit can be done from abroad.
Keep in mind the applicant applying for Bahrain residency will be required in person only when activating the residence permit. This makes it incredibly easy to maintain and manage as an international businessperson.
There’s denying that Bahrain is one of the high-income economies and one of the most economically liberal countries in the world. Many refer to it as the gateway to Arab state due to its strategic location in the center of Middle East.
The combination of economic conditions, infrastructure and geographic locations makes Bahrain a vital link in the global supply chain connecting the Middle East market to the world market. No wonder you should consider doing business in Bahrain, and watch as it continues to soar.
Lina Mark is the Partner and Editor-In-Chief at Keulj.us. She loves technology and is always hooked on new technology in the market. You will often find her browsing the web for interesting content (mostly sci-fi and tech). She is addicted to movies (mainly action) and loves to read interesting books every once in a while.