Open Your Company in a Matter of Weeks
Due to the financial and commercial significance held by Bahrain, there is a lot of potential for Business Development in various sectors in the country. As your strategic partner, the Bahrain Israel Bridge will support you and coordinate every step to set-up your business in Bahrain.
We will help you to register your company, obtain necessary licenses, and will guide and support you in all related matters.
As a start, the partners must first determine the key particulars of the new proposed company, which include the following:
- Share capital amount;
- Commercial activities (please confirm if they are the exact activities of Technacy WLL);
- Shareholding percentages (depending on the type of commercial activities which may require the Bahraini to hold minimum 51%);
- Proposed commercial name;
- Management structure (Board of Managers/ Managing Director);
After the above particulars of the company have been agreed upon, the following steps should be followed by the concerned authorities in order to establish the company:
- Submit an application to the Ministry of Industry, Commerce and Tourism enclosing the required resolutions and attested documents related to the European entity, in order to obtain their initial approval.
- Obtain the Commercial Registration (“CR”) without license.
- Register the Ultimate Beneficial Owners of the company.
- Obtain the approvals of the MOICT and the Directorate of Municipal Affairs on the proposed commercial address/office.
- Open a new account for the office with the concerned Municipality.
- Obtain the approval of the MOICT on the draft constitutional documents and notarise the same before the Notary Public.
- Open a bank account and deposit the amount of share capital.
- Obtain license for the Company.
- Sign the required BCCI Form and Partners’ Resolution in order to register the Company as a member.
- Obtain the BCCI Membership card.
The timeframe for obtaining a license for the company and registering with the BCCI depends on the dates of providing the concerned authorities with the required documentation and details. However, it can take up to three (3) weeks to complete the registration of a company and obtain a license provided that the required documents are ready. As for registering with the BCCI, it usually takes a period of (1) to two (2) days in order to complete the required formalities from the date of lodgement of the necessary documents.
Although opening a bank account for the Company depends on the process and requirements of the bank itself, and cannot be determined by us, we can advise and assist in the process.
Please note that since the Company will be established as a With Limited Liability Company, there are no minimum requirements for the share capital as per the regulations of the Bahrain Commercial Companies Law. However, most licensed banks in the Kingdom of Bahrain do not open bank accounts for companies with share capitals less than BD 5,000 – BD 10,000.
Building bridges for strong and prosperous business cooperation based on mutual understanding and trust.
Get in Touch