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CHAPTER 2: BAHRAIN, THE DEVELOPING COUNTRY, & THE EMERGING

MARKET
2.1 A strategic location for global business
Strategically located at the heart of the Arabian Gulf, and an important
staging post on the great trading
routes between East and West, Bahrain has always been commercially
oriented and outward looking. And with
a heritage that can be traced back over 5,000 years to the Dilmun
civilization, Bahrain has long stamped its
mark on the world map.
From its early days as a trading entrepot and pearl fishing centre, Bahrain has developed into
the pre-eminent financial centre of the Middle
East, and a recognized leader in human development. The Kingdom’s rapid economic, political
and social developments over the past few
years have helped to position it as an important player in the global business world.
A founding member of the World Trade Organization, Bahrain is also an active member of
numerous other multinational organizations.
These include the United Nations, the Organization of Arab Petroleum Exporting Countries, the
Arab League, the World Bank and
International Monetary Fund, the World Health Organization, the Islamic Development Bank,
and the Organization of the Islamic
Conference, to name but a few.
Together with its recent landmark Free Trade Agreement with the US, Bahrain enjoys bilateral
trade and economic agreements with
countries such as Australia, China, France, India, Jordan, Malaysia, Russia, Singapore, South
Korea, and the UK. Bahrain has also been
recognized as a ‘major non-NATO ally’ of the United States, placing the country among a very
small group of nations that enjoy this status.
This is testament to Bahrain’s longstanding political, military, economic and cultural
relationship with the USA.
Consistently ranked among the world's top fee economies by the Heritage Foundation, Fraser
Institute and the Wall Street Journal, Bahrain
has also been rated as the freest economy in the Middle East and Arab world, and enjoys
investment grade rankings from the leading
international rating agencies.
Bahrain is ranked first in the Arab world by the United Nations Development Programme
(UNDP) Human Resources Index, and is party to
international environmental agreements covering biodiversity, climate change, desertification,
hazardous wastes, the law of the sea, ozone
layer protection, and wetlands.
Bahrain has a strong established base of leading international companies and financial
institutions. They have been attracted by the
Kingdom’s buoyant economic growth, positive political developments, its commitment to
highest international standards and best practices,
a pro-business culture and world class infrastructure, an independent judicial system, and a
friendly cosmopolitan lifestyle.
An ambitious programme of economic, political and social reforms will ensure that Bahrain
continues to enhance its business environment
to provide attractive and rewarding investment opportunities for the international business
community.
The gateway to the Gulf
Bahrain has long been known as the ‘Gateway to the Gulf’. From its
strategic location at the heart of the
Arabian Gulf, it built a reputation as friendly and hospitable meeting place
for travellers, and a bustling
entrepot for merchants and traders.
A well respected member of the Arab world, Bahrain enjoys friendly relations with all its
neighbors. A founding member of Gulf Cooperation
Council (GCC) along with Kuwait, Oman, Qatar, Saudi Arabia, and the UAE, the Kingdom is an
active supporter of regional initiatives such as
the creation of Gulf and Arab common markets, and the adoption of a single GCC currency.
It is also home to many pan-regional financial, commercial and industrial institutions and joint
projects, and is also popular as a friendly
tourism and recreational retreat for families and visitors from across the region. With its
unique accessibility to the rest of GCC by road, air
and sea, modern-day Bahrain continues to act as an important gateway to the rest of the Gulf.
The King Fahad Causeway provides a 45-
minute road link to Saudi Arabia and the rest of the region, while another causeway to Qatar is
planned. In today’s world of global
telecommunications, Bahrain is also linked to the rest of the region through the Fibre Optic
Gulf cable (FOG) and the high-tech FLAG Falcon
cable system.
Bahrain, therefore, constitutes an ideal base for investors seeking to tap the huge potential of
the GCC region, one of the world’s most
attractive emerging markets. The GCC has an overall population approaching 60 million
people, a total GDP estimated at around US$ 500
billion, and an average per capita GDP of US$ 19,000. The region’s GDP is growing at an
average rate of 5.5 per cent, while total imports
amount to over US$ 110 billion per year. In addition, the close proximity of Bahrain and the
GCC to the wider Middle East market opens up
even greater opportunities for businessmen and investors.
The importance of Bahrain’s status as a regional investment base was highlighted by the
Kingdom’s recent Free Trade Agreement (FTA)
with the US. These two countries alone share a mutual trade approaching US$ 1 billion per
year, and this landmark FTA will help to open up
further new export opportunities for US industries, not only in Bahrain but also the rest of the
region.
The IMF is an international organization of 185 member countries. It was established to
promote international monetary cooperation,
exchange stability, and orderly exchange arrangements; to foster economic growth and high
levels of employment; and to provide temporary
financial assistance to countries to help ease balance of payments adjustment.
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The work of the IMF is of three main types: Surveillance involves the monitoring of
economic and financial developments, and the provision of policy advice, aimed
especially at crisis-prevention. The IMF also lends to countries with balance of payments
difficulties, to provide temporary financing and to support policies aimed at correcting the
underlying problems; loans to low-income countries
are also aimed especially at poverty reduction. Third, the IMF provides countries with technical
assistance and training in its areas of
expertise. Supporting all three of these activities is IMF work in economic research and
statistics.
In recent years, as part of its efforts to strengthen the international financial system, and to
enhance its effectiveness at preventing and
resolving crises, the IMF has applied both its surveillance and technical assistance work to the
development of standards and codes of good
practice in its areas of responsibility, and to the strengthening of financial sectors.
The IMF also plays an important role in the fight against money-laundering and terrorism.
http://www.imf.org/external/
The World Trade Organization (WTO) deals with the rules of trade between nations at a
global or near-global level. But there is more to it than that.
Essentially, the WTO is a place where member governments go, to try to sort out the trade
problems they face with each other. The first step is to talk. The WTO was born out of
negotiations, and everything the
WTO does is the result of negotiations. The bulk of the WTO's current work comes from the
1986-94 negotiations called the Uruguay
Round and earlier negotiations under the General Agreement on Tariffs and Trade (GATT). The
WTO is currently the host to new
negotiations, under the “Doha Development Agenda” launched in 2001.
Where countries have faced trade barriers and wanted them lowered, the negotiations have
helped to liberalize trade. But the WTO is
not just about liberalizing trade, and in some circumstances its rules support maintaining trade
barriers — for example to protect
consumers or prevent the spread of disease.
Location: Geneva, Switzerland
Established: 1 January 1995
Created by: Uruguay Round negotiations (1986-94)
Membership: 151 countries on 27 July 2007
Budget: 182 million Swiss francs for 2007
Secretariat staff: 625
Head: Pascal Lamy (Director-General)
Functions: Administering WTO trade agreements, Forum for trade negotiations, Handling
trade disputes, Monitoring national
trade policies, Technical assistance and training for developing countries, Cooperation with
other international organizations
http://www.wto.org/
WORKING FOR A WORLD FREE OF POVERTY
President: Paul Wolfowitz
The World Bank Group is made up of five organizations:
• The International Bank for Reconstruction and Development (IBRD)
• The International Development Association (IDA)
• The International Finance Corporation (IFC)
• The Multilateral Investment Guarantee Agency (MIGA)
• The International Centre for the Settlement of Investment Disputes (ICSID)
Headquarters: Washington, DC and more than 100 offices around the world
Established: July 1, 1944 by a conference of 44 governments in Bretton Woods, New Hampshire, USA
Membership: 184 countries
Staff: About 7,000 employees in Washington, DC and more than 3,000 in offices around the world.
Today’s world is both very rich and very poor. Around 2.8 billion people more than half the people in
developing countries live on less than
US$2 a day. Of these, 1.2 billion people earn less than US$1 day. The challenge of reducing these levels of
poverty, while the worlds’
population continues to grow by an estimated 3 billion people over the next 50 years, is enormous. They
work to reduce poverty worldwide by:
• Promoting growth to create employment opportunities; and
• Helping poor people to take advantage of these opportunities.
We support governments of member countries in their efforts to invest in schools and health centers, provide
water and electricity, fight
disease and protect the environment.
THE WORLD BANK AND THE IMF
People sometimes confuse us with the International Monetary Fund (IMF), which was also set up at the
Bretton Woods conference in 1944.
Although the IMF’s functions complement ours, it is a totally separate organization. While we provide
support to developing countries, the IMF
aims to stabilize the international monetary system and monitors the worlds’ currencies.
http://www.worldbank.org/
see the following figure, Bahrain profile according to WB
Source: World Development Indicators database, April 2007
Bahrain Data Profile
2000 2005 2006
People
Population, total 672.0 thousand 726.6 thousand 739.6 thousand
Population growth (annual %) 2.3 1.5 1.8
Life expectancy at birth, total (years) 73.9 74.9 ..
Fertility rate, total (births per woman) 2.6 2.3 ..
Mortality rate, infant (per 1,000 live births) 10.0 9.0 ..
Mortality rate, under-5 (per 1,000) 12.0 11.0 ..
Births attended by skilled health staff (% of total) .. .. ..
Malnutrition prevalence, weight for age (% of children under 5) .. .. ..
Immunization, measles (% of children ages 12-23 months) 98.0 99.0 ..
Prevalence of HIV, total (% of population ages 15-49) .. 0.2 ..
Primary completion rate, total (% of relevant age group) 97.2 101.4 ..
School enrollment, primary (% gross) 103.7 104.4 ..
School enrollment, secondary (% gross) 96.6 98.6 ..
School enrollment, tertiary (% gross) .. 35.5 ..
Ratio of girls to boys in primary and secondary education (%) 104.1 102.2 ..
Literacy rate, adult total (% of people ages 15 and above) .. .. ..
Environment
Surface area (sq. km) 710.0 710.0 710.0
Agricultural land (% of land area) 14.1 14.1 ..
CO2 emissions (metric tons per capita) 27.7 .. ..
Improved sanitation facilities, urban (% of urban population with access) 100.0 .. ..
Energy use (kg of oil equivalent per capita) 9,278.2 .. ..
Energy imports, net (% of energy use) -138.3 .. ..
Electric power consumption (kWh per capita) 8,541.6 .. ..
Economy
GNI, Atlas method (current US$) 7.0 billion .. ..
GNI per capita, Atlas method (current US$) 10,390.0 .. ..
GDP (current US$) 8.0 billion 12.9 billion ..
GDP growth (annual %) 5.3 6.9 ..
Inflation, GDP deflator (annual %) 14.3 9.7 ..
Agriculture, value added (% of GDP) .. .. ..
Industry, value added (% of GDP) .. .. ..
Services, etc., value added (% of GDP) .. .. ..
Exports of goods and services (% of GDP) 89.4 .. ..
Imports of goods and services (% of GDP) 64.4 .. ..
Gross capital formation (% of GDP) 10.3 .. ..
Revenue, excluding grants (% of GDP) 35.6 34.8 ..
Cash surplus/deficit (% of GDP) 10.3 8.3 ..
States and markets
Market capitalization of listed companies (% of GDP) 83.1 134.5 ..
Military expenditure (% of GDP) 4.0 .. ..
Fixed line and mobile phone subscribers (per 1,000 people) 560.6 1,300.8 ..
Internet users (per 1,000 people) 59.5 213.3 ..
Roads, paved (% of total roads) 77.6 .. ..
High-technology exports (% of manufactured exports) 0.4 2.0 ..
Global links
Merchandise trade (% of GDP) 135.8 139.2 ..
Net barter terms of trade (2000 = 100) 100.0 120.9 ..
Official development assistance and official aid (current US$)
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49.1 million .. ..
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2.2 The financial capital of the Middle East
Over the past 30 years, Bahrain has earned a reputation as the financial
capital of the Middle East. Key
contributing factors to this unchallenged position include The Central Bank
of Bahrain (CBB) respected for its
track record of strict but flexible regulation, a liberal economic
environment, and a well-trained local
workforce.
Today, Bahrain is home to over 370 onshore and offshore conventional and Islamic financial
institutions, the largest concentration in the
region. These local, regional and international institutions comprise commercial banks,
investment banks, leasing banks, insurance and
reinsurance companies, fund managers, legal and advisory services, financial consultants,
international regulatory agencies, real estate
investment trusts, and professional institutes. The financial sector contributes around 25
percent to the Kingdom’s GDP and provides
employment for over 6,000 people.
The Central Bank of Bahrain (CBB), formerly the Bahrain Monetary Agency (BMA), has played a
major role in establishing and maintaining
the Kingdom’s reputation as the regional pre-eminent banking and financial services hub. It is
widely recognized that no monetary authority
or central bank in the Arab world can match the CBB’s success in regulation, innovation, non-
discriminatory treatment, license
management, and operational excellence.
Bahrain also houses the largest concentration of Islamic financial institutions in the Middle
East, which now comprises over 30 institutions,
including commercial, investment and leasing banks, and Islamic insurance (takaful)
companies, with an equal number of Islamic mutual
funds. A number of specialized agencies have been established in Bahrain to ensure that the
correct international standards are in place,
and to further develop the industry. These include the Accounting and Auditing Organization
for Islamic Financial Institutions (AAOIFI), the
General Council for Islamic Banks and Financial Institutions, the International Islamic Financial
Market, the Liquidity Management Centre,
and the International Islamic Rating Agency.
Bahrain is also a major regional insurance and reinsurance centre, and the first country in the
Gulf market to introduce captive insurance. In
addition, there are two Islamic insurance (takaful) companies based in the Kingdom.
Bahrain’s position as the financial capital of the Middle East is being reinforced by the
construction of the US$ 1.3 billion Bahrain Financial
Harbour. This ground-breaking development will bring together, under one roof, all related
activities of the Kingdom’s financial services
sector, including relocation of the Bahrain Stock Exchange and a new Bahrain International
Insurance Centre.
Major Development Projects: Bahrain Financial Harbour (BFH)
Bahrain Financial Harbour (BFH) is a world-class, fully integrated waterfront development
which will create a complete financial city, a self
contained community, in the centre of Manama, Kingdom of Bahrain. BFH represents the new
emerging Bahrain and on completion will most
definitely be the foremost business district of the Kingdom. Thus, our agreement with BFHHC is
a natural progression of our business focus, of
keeping pace with the fast changing requirements of modern consumers, and would ensure
our continued prominance in the market.
A USD 1.3 billion integrated master-planned development, the Bahrain Financial Harbour will
be home to the entire value chain in the financial
services sector. This landmark project has been designed to address every single need of the
financial service sector. With a unique waterfront
development designed for commercial, residential and leisure purposes, the BFH has
1. 30 individual development units, spreading over 380,000m² of reclaimed land offering
office, residential, retail, dining & leisure space.
2. The Financial Centre, the hub of all monetary activities includes the Dual Towers, the
Financial Mall, and the Harbour House
3. Ample lifestyle options with up-market residences, retail and leisure outlets including a
luxury hotel and the Bahrain Performance Centre.
4. Exciting alternatives for relaxation with an array of seafront walkways, shopping boulevards,
promenades, a marina, water pathways, water
taxis, coffee shops and dining facilities.
5. Urban Structured Planning ensuring prime location.
This billion dollar development is located on the northern seashore of the main island of the
Kingdom of Bahrain. The development is situated
on the 'Gateway to Bahrain' which has a marked presence on Bahrain's seascape and is seen
prominently from the King Faisal Highway. Bahrain
Financial Harbour is 10 minutes from Bahrain International Airport and 15 minutes from the
King Fahad Causeway.
Vision:
To create a technologically astute and sophisticated financially focused business community of
reputable local, regional and international
companies in the Kingdom of Bahrain.
Mission:
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To reinforce Bahrain's unsurpassed position as the leading international financial centre of the
Middle East by evolving a highly focused,
committed and advanced financial environment for its occupants to thrive and prosper.
Concept of BFH: A city within a city
What is currently one of the Middle East's most exciting property developments and a natural
extension of our heritage, the project has been
designed to address every single need of the highly diverse international finance sector, and to
extend much, much further.
The Harbour district covers an architecturally stunning 380,000 square metres of prime
Bahrain waterfront property, featuring high
specification office space, both in design and leading technology, luxury residential
accommodation, together with the retail hotel, leisure and
entertainment opportunities that tenants, investors and visitors would naturally expect.
BFH will be the confluence of the financial services sector in Bahrain, by aggregating and
concentrating the currently locationally dispersed
financial services sector into a dynamic purposely designed financial district.
A business and leisure environment like Bahrain Financial Harbour may seem like another
world, but in fact you're just 10 minutes from
Bahrain International Airport and 2 minutes from the Capital - Manama.
Why Bahrain? The Financial Capital of the Middle East
The kingdom of Bahrain, a chain of around 30 islands, is in every sense in the perfect position
for accessing the key markets of the region and
enhancing any company’s global business portfolio.
Strategically, Bahrain which was home to the ancient civilization of Dilmun, is at the crossroads
of all the major continents, which means 24/7
communication with world markets is not a problem and international travel between them is
just as easy. The construction of the new
causeway with Qatar, in addition to the existing causeway with the Kingdom of Saudi Arabia
will only supplement this advantage. A haven for
tourists from the region and across the world, from a lifestyle point of view, it could hardly be
better.
The island offers water and adventure sports, pristine beaches, other sporting facilities,
theatre, performing arts, shopping opportunities and a
chance to explore the rich heritage and culture of the 'Pearl of the Arabian Gulf'
• It is amongst the first truly democratic countries in the Middle East
• Declared constitutional monarchy in 2001
• 40-member parliament, the Council of Deputies
• It boasts of complete freedom of expression for its citizens and a truly cosmopolitan lifestyle
• It is the only country in the Middle East to host Formula I racing: Bahrain Grand Prix.
• It boasts of the highest literacy rate in the GCC
• It is amongst the lowest in the regions Cost of Living Index
• It is the first country in the region to offer truly freehold property
• It has been ranked as the number one country for the last 10 years in terms of human
development by UNDP.
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2.3 TELECOMMUNICATIONS INDUSTRY
The telecommunications sector is considered one underpinnings of any modern state, in view
of the vitally important role it plays in developing
the infrastructure necessary for social and economic development.
Given the changes which have taken place in the telecommunications environment over the
past few decades of the 20th century as a result of
many factors, including technological advances, globalization of the markets and the
increasing demand by consumers for integrated services,
this made it incumbent upon states to cope with these changes in order to confront the
challenges imposed by the new innovations in the sector
and the need to restructure the telecommunications sector on new principles foremost being
separation between regulatory and policy aspects
and the gradual liberalization of services and market.
To cope with these changes, the Ministry of Transportation has, since Its inception in 1971,
been enhancing the pioneering role and prominent
status enjoyed by the Kingdom of Bahrain being one of the first countries in the Gulf region
and the Middle East to adopt new strategies that
aim at improving and developing the infrastructure for ;information and communications
technology. The aim of this was to reduce the digital
and social gap separating societies and improve living standards and at the same time achieve
penetration by the telecommunications and
information technology sector. The purpose was to integrate the Kingdom of Bahrain with the
worlds information community. The strategy was
implemented through the methodology adopted by the Kingdom of Bahrain to open up the
telecommunications sector and restructure it. These
developments culminated in the issue on 22nd October 2002 of Legislative Decree 48 of 2002
promulgating the Telecommunications Law and
establishing the Telecommunications Regulatory Authority (TRA).
Telecom Policies (National Telecommunication Plan)
According to Paragraph 15 of the Telecommunication Law, the Minister has the responsibility
of submitting the
National Telecommunications Plan to the Council of Ministers, as the role of the Ministry of
Transportation in laying the
Telecommunication sector policy.
The objective of the National Telecommunication Plan is to draw general strategies and
policies and direct the
Telecommunication Regulatory Authority and other related entities in the Telecommunication
sector to achieve the
governments goals.
Telecom Law
The Telecommunication Law 48 of 2002 was issued on the 23rd of October 2002, and its
purpose is to liberalize the
telecommunications market in the Kingdom, while separating the powers between the Ministry
as a policy-maker, and
the Telecommunications Regulatory Authority (TRA) as a regulator.
The Telecommunications Regulatory Authority (TRA)
was established by Legislative Decree No. 48 of 2002 promulgating the Telecommunications
Law. The TRA is an
independent body and its duties and powers include protecting the interests of subscribers and
users, and promoting
effective and fair competition among established and new licensed operators.
Vision
To develop the Kingdom of Bahrain as the region’s most modern communications hub and to
facilitate the
development of the market.
Mission
To protect the interests of subscribers and users of telecommunications services and maintain
effective and fair
competition between established and new entrants to the telecommunications market of the
Kingdom of Bahrain.
CHAPTER 2
THE AUTHORITY
SECTION (2)
ESTABLISHMENT OF THE AUTHORITY
(a) A public authority called the “Telecommunications Regulatory Authority,” is hereby
(b) The Authority shall be a financially and administratively independent juridical entity that
shall assume the regulation of
Telecommunications services in the Kingdom in accordance with the provisions of this Law. For
such purpose, it shall have the right to:
1. exercise all powers given to it under this Law to carry out its duties hereunder;
2. own movable and immovable property; and
3. enter into contracts and to take all legal actions, including the right to enter into legal
proceedings and to defend any
claim against the Authority, and to resort to arbitration or similar legal proceeding.
(c) The Authority shall enjoy all advantages enjoyed by ministries, governmental entities, and
official public sector organizations in the
Kingdom.
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SECTION (3)
DUTIES AND POWERS OF THE AUTHORITY
(a) The Authority shall carry out its duties and exercise its powers efficiently, effectively,
regularly, reasonably and in a non-discriminatory
and transparent manner.
(b) The Authority undertakes in carrying out its duties relating to Telecommunications
Services in the manner best calculated to:
1. Protect the interests of Subscribers and Users in respect of:
• The tariffs charged for services;
• Availability and provision of service;
• Quality of services; and
• Protection of Personal particulars and privacy of services;
2. Promote effective and fair competition among new and existing Licensed
3. Ensure, when assessing applications involving provision of Public Telecommunications
Services, that any applicant or any
Person to whom any such service falls to be provided, shall be able to provide those services.
(c) The Authority shall have the power to:
1. issue regulations, orders and determinations as may be necessary for the implementation of
the provisions of this Law,
including in particular regulations, orders and determinations in connection with technical
standards and rules, Licenses and
payment of License fees, licensing, frequency migration, accounting separation,
Interconnection, Access to the network and
its facilities, services tariffs, Access to, acquisition and removal of encumbrances on real
property, numbering, Universal
service, the promotion of competition, equipment approvals, compliance with License
conditions and all other matters
covered by this Law or the resolution of which is necessary to give effect to the provisions of
this Law;
2. monitor and investigate compliance with the provisions of this Law and any regulations,
orders and determinations made
hereunder, both on its own initiative and at the request of any Person, and making such orders
and determinations as are
necessary to ensure compliance in accordance with this Law and any such regulations, orders
and determinations including
ordering a Licensee to be reconstituted into two or more entities, if necessary;
3. Give final decisions as to applications for Licenses in accordance with the provisions of this
Law;
4. Monitor and enforce compliance with License terms by Licensees;
5. Propose and effect modifications to Licenses where appropriate in accordance with the
provisions of this Law;
6. set and collect application, initial, annual and renewal fees for Licenses, collect fines and
fees under any License and,
where appropriate, collect fees for services provided by the Authority;
7. Assist the Authority responsible for Radiocommunications in relation to the preparation of
the National Frequency Plan as
it applies to Telecommunications Frequencies;
8. co-ordinate Telecommunications Frequency Assignments with the competent authorities of
other countries in accordance
with the applicable requirements of the International Telecommunications Union;
9. In co-ordination with the Authority responsible for Radiocommunications, publish and update
a national register of
Telecommunications Frequency allocations and publish regulations related to
Telecommunications frequencies;
10. License Telecommunications frequencies to Licensed Operators in accordance with the
National Frequency Plan;
11. In co-ordination with the Radiocommunications Authority, monitor and enforce the use of
Telecommunications
Frequency in the Kingdom in accordance with the law and to ensure the efficient use thereof;
2.4 ACTIVITY LICENSING
Most legal entities’ business activities require approval of the ministry of commerce and
industry only. However,
some activities require a license from other concerned regulatory bodies.
ESTABLISHING A CORPORATION:
� Complete the relevant application form.
� Attach the required documentation as listed below.
� On notification of the approval and prior to registration, lodge the appropriate registration
fees .
� A Commercial Registration (CR) certificate will be issued together with a CR number. It is
then possible to
apply for residence/work permits etc.
DOCUMENTS REQUIRED IN SUPPORT OF COMMERCIAL REGISTERATION
APPLICATION
� Copy of the Certificate of Incorporation and Memorandum and Articles of Association of the
applicant/so
� Copies of the passports and details of the directors of the applicant/so
� Draft Memorandum and Articles of Association of the proposed company in Arabic .
� Latest audited financial statements of the applicant/so
� Board resolution passed by the applicant/s resolving to establish the company in Bahrain.
� Power of attorney in favor of an authorized person appointed to act on behalf of the
applicant/s
to officially register the company.
� Proposed postal and street, address of the company's operating office or registered office in
Bahrain.
� Bank certificate that the paid up share capital of the new company has been paid into an
account with a bank licensed in Bahrain.
� Sponsorship agreement.
� Completed application form.
� Registration fees.
BAHRAIN INVERSTOR CENTER (BIC):
A one-stop-shop that offers all the services that an investor needs to start a business.
Vision:
To make Bahrain a global and competitive market place clustered around a knowledge driven
economy, and to
become a model for innovation arid timely customer service.
Why was BIC established?
Addressing investor's applications through a single point of contact, satisfying their needs,
bring them closer to MOC
partners, and improve services.
Aims and objectives:
1- Simplify the process of obtaining the Commercial Registration.
2- Encourage the investor to invest in Bahrain.
3- Achieve operational efficiency.
4- Enhance the service quality standards.
5- Stream-line the process of obtaining government services.
6- Facilitate on-the-spot approvals and licenses from the various government bodies.
7- Assist investors in finding investment opportunities.
8- Enhance the economic capability of the country.
9- Compete with the rapidly expanding economies of the Gulf and the Middle East. IO-Offering
protection for
an investor's investment.
Services provided:
1- New issue of CR
2-Renewals of CR.
3-Adding a new branch.
4-Adding an activity.
5- Change of address.
6-Change of activity.
7 -Change of location.
8-Cancellation of registration.
9-Cancellation of activity.
10- Transfer of ownership.
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