Single person company

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Member since 16 March 2020

Pappu786Member16 March 2020 22:02:55

If I make a single person company S.P.C in Bahrain all process competed until moic final approval after I need to make draft M&AA and notary that and need Bank certificate I am confused regarding bank certificate mean I have to open account under company name & need to deposit shares number mean 1000 BD
Can I withdraw money same day please Someone guide me this process

XTang Bahrain/UAE/Saudi Arabia Expert

Member since 22 April 2014

XTangBahrain/UAE/Saudi Arabia Expert17 March 2020 06:27:58

11826

Use search in the future. I have detailed the entire process here:

https://www.expat.com/forum/viewtopic.php?id=739858

You have to deposit 1000 BD and no you can't take it out until your company becomes active. And also, most banks don't allow for ANY withdrawals until you get on the visa of your company and update that record with them. So you are looking at anywhere from 3 weeks to 1.5 months before you can take out that money.

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