How to set up your own company in Bahrain

Thanks for you prompt reply. Actually I heard about some of the people they shifted their families and dependents in Bahrain and arranged exit visa for them to avoid dependent fees as they cannot afford to pay dependent fees for 5 or 6 dependents. The sponsor of the family still holding an iqama and working in saudi company and coming and going daily. I wonder how they are living in Bahrain without opening business CPR and they dont have saudi iqama. If they still have saudi iqama they need to pay dependent fees. I need to check on that.

The ones that I know of, who used to be in that situation, KEPT their Iqamas.  And then, eventually, got tired of dependent fees and set up their own company or bought property.    I am giving you the legal way of keeping your family - if the company retracts the NOC on cancellation, you will be left with nowhere to go.

Hi Xtang, are you saying that holders of Saudi Iqama are not allowed to travel to Bahrain via causeway (as of now) due to the current lockdown in Bahrain? thanks for the clarification.

Carmine_ wrote:

Hi Xtang, are you saying that holders of Saudi Iqama are not allowed to travel to Bahrain via causeway (as of now) due to the current lockdown in Bahrain? thanks for the clarification.

Yes.  While no official announcement has been made, since Friday 25th of June, everyone who isn't a GCC citizen or Bahrain resident or Bahrain visa holder, has been turned back and not allowed to enter.  Bahrain immigration categorically tells them that they can't enter Bahrain via the causeway.  This has affected people who were travelling daily even.  No idea when this will revert to normal.

XTang , thanks for the detailed update.

Hi guys. I hope everyone doing well during this time.

I'm living now outside Bahrain and want to move to live there.

After i researched in internet . I got a offer for investor visa,as i understand the agent will add me to a already made company as investor.So i have some questions:

1. Do i need to work or be present at the firm office . Or only need someone at the office. Because i don't plan to work in Bahrain and just receive the passive income from aboard.

2. I'm planning to come to Bahrain on tourist visa after Covid to finish the paper works.
Or do you guys have any suggestion for me.

3. And do someone have contacts with some agent ,who give some services like that . So i could take a look at some offers.

Thank you in advance.

I have covered the entire process in detail.  Read through this entire thread.

And the option the agent is giving you is not legal.  You are being a sold an investor visa with no say in the running of the company (They will take a power of attorney from you).  If something goes wrong, you will be liable as you are on the CR.   The question you need to ask yourself is whether you trust these people.

This selling of investor visas started after the LMRA crackdown (again detailed in this thread) on shadow companies.   So people started selling investor visas for already running companies.   I am pretty sure that LMRA will crackdown on this in the future.

I would like to know if there is any type of entity for Offshore business.  A friend of mine is doing a Cloud computer business, he does not need any office as everything is  online, also his main customer is only one International customer.  He is looking for a legal company and a bank a/c for this purpose.

Is there any option in Bahrain for such please?

Not in Bahrain, no.  In the UAE, yes.

XTang wrote:

Updated Oct' 19


Requirements for closing down your company:


4) In any case, once you have placed the ad, after 15 days from the date of publication, you need to submit a copy of the ad as well as the final liquidator report to MOIC
5) MOIC will move the process into final approval and send you a second ad to be placed in an Arabic daily.  Do that and wait 15 days.  Then submit a copy of that ad
6) Final approval from MOIC, pay the fees and your CR will be treated as "LIQUIDATED"

Hello community,

two questions for those who have gone through the process:

What's the best/easiest way to publish the two required ads? Any newspaper you can recommend?

How do I get my hands on a final liquidator report (mentioned in step 4)?
Is that something an external auditor has to generate?

I'm trying to close down the company on my own as my consultant wants to charge me ridiculous amounts for the process.

I can set up the company for you

The moment your company shows under liquidation on Sijilat, you will start getting calls from the newspapers .   I can't recommend any particular one but just make sure it's an Arabic daily.  I believe the cost per ad is around 20.   The entire process can be done on whatsapp and benefit.   They will send you a copy of the ad after it runs for uploading in your application.

Liquidator report, you can engage with any accredited audit firm to prepare final accounts.   Then a covering letter on top from the liquidator stating that there are no liabilities (after the ads have run) - the liquidator can be you.

Very nice and informative

I will be glad if I can be linked up with a good agent for company registration.
I am interested to start up a company in Bahrain

Just to give the community some feedback on the liquidation process:

Basically like XTang outlined before but in my case I wasn’t contacted by any newspaper, so I just called a couple and once you get transferred to the right person it was sorted by WhatsApp and Benefit. Prices do vary between 30-60BD per add plus VAT. Guess you can get it cheaper if you look around.

Final accounts only required when MOIC requests it during the liquidation process. I guess it depends on type of business and history of the company. In my case they only wanted the liquidator report after 15 days of the first ad.

@Haseeb91 - Dear @Haseeb91 thank you precautionary warning. XTang has given an elaborate structure frame by frame.  My concern is, I wish to start the process myself I am coming from India. E-Key situation, Its a chicken and egg situation. Should I engage a consultant or not/ Can I start the process myself.

I'm interesting to set up it

Dear XTang

Thank you for taking time and sharing this useful info.

You are truly a Gentleman !

I'm interesting to set up it
-@johndelva749

Hello johndelva749,

Could you please tell us more about that?

Cheryl

Expat.com team

Anyone has a sample MOA ? Just wondering if there's a specific format that MOIC follows.

@XTang thanks for this updates really supportive and  would like to get more light from it here i already have an advance ekey and submit for company formation,but my former sponsor cancel my visa when i went for vacation in my country,and would like to finished my cr formation but visa now not active.

Need and advice cause before am waiting to ask for NOC from him,now what to do

You asked about this on another thread and I answered you.  You will need NOC from him.

@XTang thanks for the comprehensive process. I thought I read somewhere on here that to start an import/export company, one must have a Bahraini partner with 51% ownership. However, I haven’t located this rule upon further investigation (Google). Would appreciate your input. Thanks.

You need to go to sijilat, search by activity and then look at the guidelines.

@XTang  Outstanding Instructions. Great

Hi @XTang,

These instructions were exactly what I needed.

Has anything changed since you last updated in 2019?

Well few things have changed here and there but majority remains the same.

XTang - excellent advice in your earlier posts. Thank you.

I am applying for a CR without being resident in Bahrain, so I am assuming that I will have to use an agent at least for the first part of the process.

I note the concern around fraudulent activity, do you or others have any recommendations on company formation agents that I can rely on, please?

I will let others comment as it has been a long long time since I have consulted with any agent for this.

Hi

I am looking to set up a WLL company in Bahrain. Can anyone recommend me a reliable company / agent  to do this for me. I have looked online and spoke to a few but to date i am not confident proceeding with any of them, I cant do it myself as i cant get an e key.

your assistance would be appreciated

@Wmct01

Hi. We did ours through **

***

They are reliable and good.

You can check with Mr. Shihab **

Thank you Jeson

i will give him a call

have a good day

Hello everyone,

Please note that names and contact details should be sent in private. You can dm any member by clicking on his username > Send a message.

Regards

Bhavna

@Haseeb91Which can you tell me , which bank was easiest to make the account

Dear @XTang,

Should the applicant be outside Bahrain when applying for an investor visa?

My CR is active now, my agent told me to leave the country to apply for a visa. That is the reason I am asking.

@msgwenivere

For trading activity CR bahraini involvement 1% enough.

@smddas92

What is your visa status? You are under visit visa? If you are under visit visa then no cance to transfer your visa locally. Thats why agent told you to go out and apply with medical report. But no need to wait 21 days like employment visa.

@smddas92

Al salam bank