12 steps to incorporating in Bahrain
- Initial consultation: First, Healy Consultants and the Client discuss the proposed business activities of the Bahrain company. Once satisfied, the Client signs our engagement letter and settles our project fees. Thereafter, we agree on the following: i) proposed company names ii) corporate structure and iii) initial share capital amount;
- Planning: Next, we prepare a detailed engagement plan, outlining a roadmap for the entire engagement, and settling Client’s expectations. The detailed plan would set an expected timeline for all steps from name reservation to corporate bank account opening;
- Professional nominee services: There is a 90% probability the Bahrain Government requests the Client to submit notarized and legalized documents, which can be costly and time consuming exercise. To overcome this problem, our Clients appoint Mr. Aidan Healy as the temporary nominee shareholder, director and bank signatory, after we complete the entire process without i) an immediate need for legalization and ii) employee travel;
- Name search: Then, Healy Consultants firstly performs a company name search with the Commercial Registration Directorate at the Ministry of Commerce and Industry;
- Signing an office lease agreement: Bahrain authorities require foreign investors to lease an office space before the company incorporation can be approved. If necessary, Healy Consultants will supply virtual office services until our Client finds their preferred business address;
- Document preparation: Our experts prepare the following corporate documents i) director appointment letter ii) shareholder consent forms iii) M&AA. These documents are emailed to our Client for their signature;
Document submission: Healy Consultants files the following documents with the Commercial Registrar and Ministry of Justice i) name reservation application ii) share allocation documents iii) proposed M&AA iv) lease agreement and v) director/shareholder documents;
In case, our Client wishes to open branch, Healy Consultants will file the following documents from the parent company: i) M&AA ii) board resolution iii) audited financial statements iv) letter of guarantee;
- Incorporation approval: Healy Consultants receives an email of the certificate of incorporation from the Commercial Registrar, and immediately emails the same to our Client. The company’s office address will be registered with the Ministry of Justice;
- Corporate bank account opening: Healy Consultants assists our Client open a corporate bank account with a Bahrain bank. Our Client deposits the paid-up share capital of US$2,660 and supplies Healy Consultants with a certificate of deposit and bank statement;
- Publication of company: Following the Bahrain company set up, Healy Consultants arranges to publish the company details in the Official Gazette and one local newspaper, in accordance with Article 268 of the Companies Law;
- Visa application: Healy Consultants applies for all the necessary work visas from the Labour Market Regulatory Authority (LMRA), which then provides a login ID and password to register individuals for employment with the company;
- Engagement completion: Following engagement completion, Healy Consultants couriers a full company kit to our Client, including i) original Bahrain corporate documents ii) unopened bank correspondence and iii) a Client feedback survey.
Frequently asked questions
Does the Bahrain business incorporation process require my firm to appoint a company secretary?Yes. In order to incorporate a Bahrain company, it is mandatory to appoint a resident secretary for the new company.
How much capital will I be required to deposit for company incorporation in Bahrain?Incorporating an LLC or a FZ company in Bahrain will require our Client to deposit US$2,660.
If I incorporate a business in Bahrain, will I be required to publically disclose the details of all my directors and shareholders?Yes. Details of a Bahrain company will be available for public viewing.
What incorporation services does Healy Consultants provide in Bahrain?As Bahrain incorporation service providers, Healy Consultants offers i) company registration ii) business license registration iii) immigration solutions iv) employment strategies v) corporate banking solutions and vi) office rental requirements. Our Bahrain incorporation specialists will assist our Clients at every step of the engagement.
What will be the Bahrain incorporation timeline?For company incorporation in Bahrain, the average time required will be approximately 12 weeks.
Will there be any restrictions for non-resident entrepreneurs when they incorporate in Bahrain?No. Foreign entrepreneurs in Bahrain can incorporate wholly owned business entities in the industry of their choice.