One is never short of reasons to establish a business, launch a branch, or relocate to the Kingdom of Bahrain. This beautiful island located strategically at the heart of the Arabian Gulf, has so much to offer to investors and business owners.
Below, we share a bird’s eye view of key factors making Bahrain a business destination worth considering:
Accessibility
Bahrain enjoys a sophisticated transport system allowing seamless travel by road, sea, or air. Added to that, its strategic location giving businesses easy access to the economies of neighbouring countries and the whole Middle East region.
Further, the vast number of bilateral trade and economic agreements, and Free Trade Agreements (FTA) signed by the Kingdom of Bahrain gives businesses a competitive advantage. Bahrain has signed bilateral trade and economic agreements with over 40 countries, including China, France, India, and the United Kingdom, and Free Trade Agreements (FTA) with Singapore, the United States, and the EFTA States (Iceland, Liechtenstein, Norway & Switzerland). Not forgetting to mention the Duty Free Access to the 17 Arab member states of the Greater Arab Free Trade Agreement (GAFTA).
Incentives
With a government that has adopted a liberal approach to foreign investment, investors and business owners are given numerous incentives. For instance, foreign investors and business owners are permitted 100 percent ownership of a business or branch office and enjoy an environment that offers one of the lowest commercial costs. Moreover, they are not taxed on corporate or personal income, nor wealth, capital gain, withholding, death or inheritance. It is also worth mentioning that there are no restrictions on the reparation of capital, profits, or dividends.
Opportunities
In a bid to sustain its rank at the forefront of developing countries, Bahrain has adopted an ambitious economic vision that outlines the country’s orientation, its economic goals, and the roadmap to achieving them. This comprehensive vision centers on economic openness, diversification, and the augmentation of the private sector’s role and contribution to the economic development march. This development-centered orientation has brought forth plentiful projects with abundant investment and business opportunities for locals and foreigners.
Currently, promising opportunities are available in the financial services, manufacturing, logistics, tourism and leisure, and ICT sectors.
People and Life
The business friendly environment, the long-established commercial law, the low costs, the abundant opportunities, the sophisticated transport network, the advanced infrastructure, constitute only part of what makes the Kingdom of Bahrain an ideal business destination. The other part worthy of consideration by foreign investors and business owners is the way of life. Bahrain is a modern country that embraces people from all backgrounds and ethnicities, and thus the very diverse population. The country enjoys a relaxed and liberal way of life, and when it comes to events, activities, and festivals, it simply caters for all interests. The country hosts major sports events such as the Formula 1 Grand Prix, cultural events including international opera shows and plays, music events, art exhibitions, various festivals, and more.
Bahrain Chamber of Commerce and Industry
“The prominent voice of the business community and effective partner in economic decision-making”
Locally known as “Bait Al Tijjar”, which translates to the house of merchants, the Bahrain Chamber of Commerce and Industry is the first of its kind in the region. Since its establishment in 1932, it has served as a business assembly that embraces local business owners from all sectors and of all sizes. It mainly aims to empower the progress of local business owners, reinforce the national economy, and stimulate trade and investments.
Below is an overview of the Bahrain Chamber’s vision, mission, and strategic goals:
Vision
To become the leading voice of the business community, and an influential partner in economic decision-making
Mission
To represent the private sector and play an influential role in protecting its interest
Strategic Goals
• Foster the growth and development of local businesses.
• Stimulate trade and investment partnerships between Bahrain and other countries.
• Invigorate the national economy and enhance the contribution of the private sector to the economic development march.
• Empower and support the internal committees in serving and upgrading their corresponding sectors.
• Make the Chamber a prominent base for its members and partners.
• Exercise an influential role in representing the private sector in the legislations of law.
• Promote innovation in enterprises.
• Support the development of Micro, Small, and Medium enterprises.
• Encourage the women and the youth to venture the market.
• Promote the principles of sustainable development in line with the national interest.
• Practice an influential and transparent role in issues of Public Affairs.
• Encourage business owners to adopt some social projects and abide by the principals of social responsibility in their practices