Yes, job opportunities are great in the Kingdom of Bahrain, but did you know that there’s a lot more in store for you? Like any other country, Bahrain is open to expats who want to venture into the business industry. Being a foreigner in a strange country doesn’t mean you are restricted to become an investor and a businessman. You can do more if you have enough knowledge about doing business here.
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If the door opportunities open up for you, you shouldn’t waste the chance to enter it and begin new things. This applies to every expat who have been thinking of building their own business or investing in something that might help them strengthen their financial capacity in Bahrain. Since you are allowed to invest and look for more income channels, it would be a great move to start planning now. This is how you do business in Bahrain.
Guide On How To Start A Business In Bahrain
Pick a legal structure.
It can be a sole proprietorship, a partnership or an investment in a corporation. The choice is yours. Some of the options you have apart from those mentioned above are a Limited Liability Company (LLC) that can have 2 to 50 shareholders and a branch office of a foreign corporation. Getting a good lawyer can make this step easier!
Choose a company name and register.
If you’re planning to put up a new company, you need to start thinking about a good and unique name now. You will bear this name forever so better come up with a great idea while considering the guidelines set by the Ministry of Industry and Commerce (MOIC). When starting your own business, always abide by the laws.
Proceed with the commercial registration of your company.
Once you’ve chosen a business name, it’s time to go to the next level and have your company commercially registered. The registration process is being managed by the Bahrain Investment Centre. If this government agency doesn’t find any fault on your application, they will issue your papers to legalize your business.
Get your approvals and licenses.
This is another step if you haven’t gotten your commercial papers yet. You might want to ask the Bahrain Investment Centre for this process if they tell you that the commercial register for your company would take a while.
Process other approvals.
Now for the last stage, you need to open an account, sign a lease contract, and hire Bahraini employees for your company. This is already a primary step to start up your office. Make sure to do this based on the timeline of your plans.
Starting a business in Bahrain doesn’t have to be hard and hassle. It would take time, yes, but it should be easy if you know the rules. Always do prior research before you do anything in a foreign country. And don’t forget—opportunities don’t stop here. There’s so much more for you!