Eternity Law International — Ready-made company in Bahrain

Ready-made company in Bahrain

Published:
April 17, 2020

What is included:

  • Ready-made company in Bahrain,
  • Local bank account,
  • Legal address

Cost: on request.

The main direction of development is a course towards diversification. Today, a huge number of multinational companies are engaged in entrepreneurial activities in this country.

Bahrain exports oil, aluminum and textiles directly from Bahrain.

One of the important reasons for the popularity of registering your company is the presence of a stable government and the presence of a profitable incentive system for investment activities and opening a business.

Today, the country is an absolutely tax-free economic zone.

FEATURES OF OPENING ENTERPRISES

Entrepreneurs must register companies in full compliance with the legal framework for commercial firms.

An important regulatory act is also the guidelines issued by the Ministry of Commerce.

There are certain nuances and features of the management.

  1. Management is carried out by one or several managers.
  2. There are no special requirements for the board of directors. An exception is cases in which the total number of partners exceeds the threshold of ten people.
  3. The right to sign is granted to the manager. However, if there are any restrictions in the constituent documentation, subsequent actions should be carried out in accordance with them.
  4. The minimum number of shareholders is two, and the maximum number is fifty people.

There are a number of requirements for the capital of an enterprise.

  1. To register a company in Bahrain, you must have a minimum amount of 20,000 Bahraini Dinars.
  2. Cash should be divided into equal shares (from 50 dinars each).
  3. The division of shares is not possible, nor can they be in free float.
  4. It is possible to register a company only after payment of the shares in full in cash, and when they will be distributed between partners.

In addition, there are some requirements in the country that are subject to unquestioning compliance.

  1. It is important that the office is located on the territory of the country, however, the activities of the company should be carried out outside the jurisdiction.
  2. Among the exceptions, those enterprises whose activities involve obtaining special permits (licenses) should be highlighted
  3. It is important that the company has a name that ends with the phrase “Company with limited liability”
    Limited liability companies cannot carry out banking activities, insurance and investing funds.

In addition, it should be noted that enterprises that are registered in the country are fully exempt from the need to pay income tax.

An exception to this rule are companies that operate in the gas and oil sectors.

A mandatory requirement is the need for reporting on accounting and auditing.

The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.

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