Bahrain was one of the first Emirates in the Persian Gulf region to successfully establish a diversified economy which is not solely dependent on the trade of fuel and petroleum. A strategy that was pre-emptively focused towards investing in prominent sectors such as banking and tourism came to fruition in the mid-2010s when more than 50% of the revenue earned by the Emirate was a result of the developed post-oil economy.
As a result of these advances, Bahrain has a very high Human Development Index (HDI – 0.838). And, it is also recognised as a high-income economy by the World Bank with a GDP of over 78.7 Billion USD as of the previous year. Thus, business setup in Bahrain is encouraged for growing and scaling the business entity in the UAE market.
Essential Features of the KBS Port
If your business includes active trade operations frequently, then it is essential to know the intrinsic details of the location. Here the important features of the KBS Port in Bahrain that will aid trade activities and support daily business operations –
1. Geo-Political Features
- The port has easy accessibility to the Bahrain logistic zones and Bahrain International Airport.
- It also facilitates the clients with the Online Self-Service Portal.
- It has an awe-inspiring Streamlined custom-clearance process.
- The port has excellent facilities to handle the deep-sea vessels.
- It also has a highly effective supply chain management.
- A distribution-free cargo zone of 95 hectares is also located near the airport.
- This Free zone which is only a few km from the airport, will enable the investors to boost their presence quickly in the field.
- The FTA [Free Trade Agreement] is signed between Bahrain and the US which benefit the GCC international investors of the facilities which the port has to offer.
2. Technical Features
- It is widely spread across 110 hectares [ha] of reclaimed land.
- It also has a 1800 meters long concrete quay wall.
- Four 61m port-Panamax cranes, with a capacity of 18 stack width
- It owns 12 Rubber Tired Granty Crane
- 2 Reach Stackers
- 1 Top Loader
- 38 Yard Trailers.
- Two Shuttle Carriers.
- It has a whopping total of 896 refer to External PowerPoints.
- It also has an effective supply chain management.
- It has the facility of cargo stuffing and stripping.
Doing Business in Bahrain
The hype around doing business in Bahrain is real and here the key features to keep in mind while approaching the process -
- Get started by selecting a business entity type.
- Then register a name for the company.
- Proceed ahead with the commercial registration process with government authorities.
- Then Obtain the required license and the approvals.
- You may also need other types of approvals as per your business entity type.
Benefits of Doing Business in Bahrain
The Arabian economy is rapidly growing undoubtedly at a significant rate, and hence the businesses are expanding or planning to expand throughout the MENA region. Bahrain is an active business hub for corporations, manufacturers and SMEs making it one of the most developed areas for business setup in the UAE.
- The Bahraini government encourages investors in all sectors in general as well as in particular logistical and transport sectors.
- The international companies or investors can benefit from the variety of incentives, facilities that are offered in all the sectors.
- The port has a unique rising start-up culture.
- The port also offers Duty-free access for products.
- The port is a platform that binds interested and eligible entrepreneurs, corporates, investors etc.
- The port also offers interested investors Complete foreign ownership.
How can Commitbiz Help?
A consultant strives to ensure the business kick-offs to perform exponentially in the market. Finally, when business scalability has been saturated, liquifies hassle-free, providing a suitable amount of remuneration to the top managers and available severance to the hard-working employees. The energetic and ever buzzing business environment in the UAE always leads new business owners to raise questions on how to set up business in the UAE.
Well, that's why UAE is home to industry professionals that cater to providing new business owners with step-by-step solutions to business setup services in UAE. We at Commitbiz have been catering to various clients across a tenure of over 15 years, providing our clients with tailor-made solutions for all their administrative activities, from accounting to company secretarial services. Our consultants have been diligently working to provide clients with nothing but the best in class services. Contact us to know more about starting your entrepreneurial journey in the UAE.