12 steps to incorporating in Bahrain in 2022
- Initial consultation: Healy Consultants Group discusses the Client’s intended business activities within Bahrain. Healy Consultants Group then suggests an efficient corporate structure to meet the client’s needs. Once satisfied, the Client signs our engagement letter and settles engagement fees in installments if necessary. Thereafter, the client confirms i) preferred company names ii) corporate structure and iii) initial share capital amount;
- Planning: Next, we plan out the engagement and prepare a detailed engagement plan for our client. The detailed plan would set an expected timeline for all steps from name reservation through to corporate bank account opening;
- Security check: Healy Consultants Group shares our Clients’ passports with the Bahraini government for a mandatory security check to be performed on all foreign shareholders;
- Name search: Once the Client is approved, Healy Consultants Group firstly confirms which of our Clients preferred company names are available by performing a search with the Commercial Registration Directorate at the Ministry of Commerce and Industry;
- Document preparation: Healy Consultants Group will then provide the following corporate documents to the client for review and signature; i) director appointment letter, ii) shareholder consent forms and iii) the companies memorandum and articles of association.
- Document submission: Healy Consultants Group prepares and submits the following documents with the Commercial Registrar and Ministry of Justice i) name reservation application ii) share allocation documents iii) proposed memorandum and articles of association iv) signed lease agreement and v) director/shareholder due diligence documents;
- Signing an office lease agreement: It is mandatory for companies registered in Bahrain to have a lease agreement for an office space, this will be required before company incorporation can be completed;
- Capital account: Healy Consultants Group secures a capital account for the client’s business in order for the client to deposit the share capital of US$2,660 to be deposited and the share capital deposit certificate to be obtained, mandatory for company incorporation;
- Incorporation approval: Healy Consultants Group will then receive the certificate of incorporation from the Commercial Registrar, which will then be provided to the Client. The company’s office address will be registered with the Ministry of Justice.
- Visa application: Healy Consultants Group then helps the client prepare and apply for necessary work visas from the Labour Market Regulatory Authority (LMRA);
- Corporate bank account opening: Healy Consultants Group will then proceed to convert the Client’s capital account into an operating corporate bank account. It is mandatory that the signatory to the bank account has a Bahraini visa;
- Engagement completion: Once the client’s business is fully and successfully setup, Healy Consultants Group will courier a full company kit to our Client, including i) original Bahrain corporate documents ii) unopened bank correspondence and iii) a Client feedback survey.
Documentation to be submitted for corporate shareholder or branch office
When our Client is registering a local entity with a corporate shareholder or a branch office, Healy Consultants Group will submit the following documents from the parent company:
- memorandum and articles of association;
- board resolution confirming parent company’s decision;
- audited financial statements;
- letter of guarantee;
- passport copies of parent company shareholders and directors.
Legalization by the Bahrain Embassy in our Clients home country will be required for all these documents.
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.