With a long and positive history as a worldwide trading nation, the Kingdom of Bahrain has always given a warm and open welcome to global visitors and industries. Bahrain’s growing and supportive ecosystem, strategic proximity and easy access to the gulf market, business-friendly environment, and liberal policies and guidelines make it a top competitor for startups to test, launch and scale their business. The government of Bahrain has taken many initiatives to enhance the Kingdom’s entrepreneurial ecosystem to attract entrepreneur and startup from across the globe. Entities like Tamkeen, Startup Bahrain, Bahrain Fintech Bay, Economic Development Board (EDB) Bahrain, and Flat6Labs Bahrain.
Why Start a Business in Bahrain?
The Economic Development Board in Bahrain is the first point of contact for investors looking to incorporate their businesses. Here are a few reasons why you must set up a business in Bahrain.
1.Rising and Supportive Network
Bahrain has built a supportive infrastructure and public that native and international startups can directly benefit from. This is obvious in the growing network of stockholders and venture capital, incubators, supportive entities, accelerators and workspaces, and corporates.
Bahrain’s government work closely with regulators and businesses to explore opportunities to improve the Kingdom’s trade environment and nurture optimum commercial conditions. This vital collaboration has brought into action numerous initiatives that encourage innovation and allow business persons to thrive.
3.Easy Entrée to the Gulf Market
Bahrain is ranked 7th internationally for market connectedness. Its planned geographic site and excellent logistics channels provide the fastest and most well-organized connections to the Gulf Cooperation Council (GCC) by road, air, and sea.
4.Liberal Regulatory Environment
Startups will benefit immensely from Bahrain’s progressive economic and business-related strategies and regulations. The Bahraini government has simplified business formation and decreased minimum capital requirements for businesses, thus reducing costs and easing incorporation and operation procedures, and offers foreign entrepreneurs 100% foreign land and business ownership in most industries as well as reductions in visa fees.
Business Opportunities in Bahrain
The Economic Development Board in Bahrain focuses on several economic sectors that encourage businesses to capitalise on Bahrain’s competitive benefit. These signify just a selection of opportunities available to investors and start-ups looking to enter the market in Bahrain, and we encourage you to contact Commitbiz for a personalised discussion.
Some of the booming sectors in the Kingdom of Bahrain are –
- Financial Services
- Tourism and Leisure
How to Start a Business in Bahrain?
The procedure to start a business in Bahrain is simple and straight-forward. If you contact a business setup consultant, then you don’t have to go through the hassles of making rounds to the EDB Bahrain. Here are the steps required –
- Decide a unique trade name
- Fill an application form for initial approval
- Collect all the necessary documents, fill the registration form and submit the same to the department
- Pay fees
- Get the license
How Can We Help?
Our team at Commitbiz can support you at every stage of your process. It includes –
- Registration and Licensing
- Legal and Regulatory Support
- Specific Market Opportunity Advisory
- Finding a Home for your Business
Contact us today to know more.