Opening a Business Bank Account in Bahrain

Bahrain has a free market economy, holding no restrictions on foreign exchange, capital movements, foreign investment, or foreign trade. As a result, the country has a leading position in the region as an open, transparent, accessible environment that is business-friendly for investors.

In addition, the monetary policy framework is geared to support the general economic goals of the nation. The government demands that established business units hold a corporate bank account according to corporate laws.

Opening a business bank account in Bahrain is very easy and convenient to obtain a Capital Deposit Certificate in your active company. The island nation has a strong banking network, allowing business entities and individuals to set up a company in Bahrain.

You also can enjoy an online company bank account while opening a corporate bank account in the country.

A Bahrain Bank Account for Your New Company

The CBB (Central Bank of Bahrain) is the regulatory body that holds complete monetary controls, and the BHB (Bahrain Bourse) is the core destination that focuses on capital market activities in the Kingdom of Bahrain. The current account helps the investors to deal with Bahraini Dinars and other currencies, including:

UAE Dirham
Saudi Riyals
Euro
US Dollars
British Pounds.

Documents Required

Some documents are required to get hold of a bank account certificate. They are as follows:

A CR Copy
A business plan
An Extract Copy
The Board Resolution
A CPR and passport of each partner
Six months' bank statements of each partner
A Visa copy and the driving license of each partner
A bank statement of the existing company (if applicable for any of the partners).

Eligibility Criteria

The eligibility criteria to open a current account in Bahrain:
The age of applicant must be at least 21 years
The minimum deposit is BHD 300*.

*Fees are subject to change. Kindly connect with us for confirmation.

Get a Certificate for Your Bank Account in Bahrain

This certificate is required to complete the process of company registration in Bahrain and activates it. A capital deposit certificate (bank account certificate) can be issued for a current business account.

After you obtain this certificate, you must submit it to the SIJILAT system for activating the company, and the Active CR will be given. This CR, along with the resident permit (existing) or a new residence permit, will be required to activate the bank account.

The bank will issue a cheque book to the current business account holders after verification and satisfaction of the bank manager. It also depends on the number of partners and their authority levels.

Now, the procedure of opening a corporate bank account is easy. However, you might face a fee challenge while going ahead. In addition, you may also:

Face difficulty in selecting the appropriate bank
Have problems understanding the rules and regulations
Not be sure of the papers that must be submitted.

So, slight negligence or a difference can cancel the process. Therefore, you should avail the aid of professional experts who can help you with the proceedings in a hassle-free manner.