How to start a business in Bahrain
Company formation in Bahrain is a straightforward and efficient process, thanks to the presence and support of various government initiatives and services such as the Bahrain Economic Development Board (EDB) and the Ministry of Industry and Commerce (MOIC). The steps for company registration in Bahrain can vary depending on the nature of your business and its ownership structure. However, the following is an overview of the main steps involved for registering a company in Bahrain:
1. Choose the right legal structure
The Limited Liability company and free zone company are the most popular options for setting up a company in Bahrain. However, your decision should be informed by factors such as the level of liability you're comfortable with, the amount of capital you plan to invest, the number of partners, and your business objectives. The following are the available options:
- Sole proprietorship
- Limited Liability Company (WLL)
- Public Joint Stock Company (BSC)
- Closed Joint Stock Company (BSC Closed)
- Foreign Branch
- Representative Office
2. Security clearance
The next step is to get the security clearance approval. This involves drafting of initial KYC documents and submission of identification documents of all company signatories to Nationality Passport and Residency Affairs (NPRA) for approval. You’ll require the following documents:
- Passport copies
- Signed KYC forms
- Signed engagement letter
- Authorisation letter
3. Company name reservation
You’ll need to submit three proposed company names that comply with Bahrain's naming regulations, ensuring they are distinctive, not misleading, and do not infringe upon any existing trademarks or intellectual property rights.
4. Prepare the Memorandum and Articles of Association
These should be drafted in line with the chosen business structure and attested by a public or private notary. These documents should clearly define the company's structure, objectives, governance, and operating procedures.
5. Open company bank account
Choose a suitable bank, gather required documents like the Memorandum and Articles of Association, and visit the bank with these documents. Complete the application form, make an initial deposit, designate authorised signatories, and undergo compliance checks. Once approved, you'll receive your account details, which you can use to deposit initial funds and activate the account.
6. Get final approval
Final approval from the Ministry of Industry and Commerce (MOIC) is the last crucial step in setting up your business in Bahrain. This approval ensures that your business complies with all relevant regulations and that your application has been thoroughly reviewed. You’ll have to submit your notarised memorandum and bank certificate and then once you receive this approval, you're ready to operate your business legally in Bahrain.
Visa Services in Bahrain
Once your company formation in Bahrain is complete there are other processes for obtaining employment visas for your staff and their families as well as ongoing company maintenance requirements. We have created a ‘Green Pack’ which is a PRO/Visa services bundle pack to assist companies with ongoing company maintenance requirements. Our retainer provides a bundle of monthly and annual services.
How can PRO Partner Group help?
At PRO Partner Group, we have 12 years of experience in the corporate services industry in Bahrain, as well as decades in the UAE and wider GCC and have developed key industry connections to help facilitate the successful incorporation of your business.
We can help you with business setup in Bahrain, providing a comprehensive suite of services that streamline the company setup process. We will offer insights on the best business structure that aligns with your business objectives, secure licences, navigate documentation, and liaise with government authorities on your behalf, eliminating bureaucratic hassles and saving you valuable time. We can further assist with establishing a corporate bank account, managing payroll services, and providing essential guidance on compliance matters.
If you need assistance with this or any other related onshore or offshore company setup, restructuring, local partner or PRO support matter in Bahrain, Abu Dhabi, Dubai, the wider UAE, Oman, Qatar or KSA, then please do get in touch with us on +971 (0)4 456 1761 for Dubai or +971 (0)2 448 5120 for Abu Dhabi, email us at email@example.com or complete the contact form below and we will be delighted to assist you.