The Kingdom of Bahrain is making changes to its corporate laws and government procedures to allow for easier company incorporation and administration. The changes will also ease restrictions on foreign ownership.
The Bahrain government announced that it is to allow 100% foreign ownership in most business activities.
All types of Bahraini companies give the shareholders or the directors an Investor’s Residence Visa.
Bahrain imposes no exchange control restrictions on repatriation of capital, profits and dividends. Bahrain currently has no taxes on personal or corporate income. There are also no capital gains and withholding taxes.
Bahrain has concluded over 30 double taxation agreements.
It is expected that the new legislation will introduce two new types of companies – investment limited partnerships (ILP) and a protected cell company (PCC).