What are the procedures for establishing a company in Bahrain?
- Security clearance, which requires:
- A copy of the Passport
- Determining the type of the business.
- Filling out the form of the Ministry of the Interior of Bahrain.
- The incorporation of the company, which requires:
- Making the contract.
- Incorporation form.
- Copies of the passport and personal ID.
- A bank reference letter.
- A list of the proposed company names.
- Curriculum Vitae.
- Authorization from notary.
- A bank statement for the last three months.
- The acknowledgment form, the signature form, and the customer information form.
What are the types of companies in Bahrain?
Public Joint Stock Company
Consists of one or more shareholders. The amount of the capital should not be less than one million Bahraini Dinars. A quarter of the capital amount can be deposited upon incorporation, and the remainder of the capital can be deposited within a maximum period of five years. The value of each share ranges from a hundred Bahraini Fils to a hundred Bahraini Dinars
Closed Joint Stock Company
Consists of one or more shareholders. The amount of the capital should not be less than two hundred and fifty thousand Bahraini Dinars. Half of the capital amount can be deposited upon incorporation, and the remainder of the capital can be deposited within a maximum period of three years. The value of each share ranges from a hundred Bahraini Fils to a hundred Bahraini Dinars.
Limited Liability Company
Consists of a number of partners, not less than two and not more than fifty. There is no minimum capital required. Each share of the limited liability company has a value of at least fifty Bahraini Dinars.
Consist of two or more people. Partners share the company’s debts. This type of company is not required to have a minimum capital. It is not permitted for this type of companies to practice banking activities, insurance, or invest the funds of others.
Consists of two types of partners:
- Joint Partners: who manage this company are responsible for its debts.
- Limited Partners: those who are not responsible for managing the company, but who participate in its capital, and are obliged to pay the debts of the company only to the extent of their stake in the company.
The minimum capital required for this type of companies is twenty thousand Bahraini Dinars.
Owned by one person and has no minimum capital required. It is not allowed to practice banking and insurance activities and invest the money of others.
These companies participate in founding other companies or own shares in them, and work to manage them and provide the necessary support.
اقراء المقالة باللغة اخرى : العربية