At the very first step client will give power of attorney to a representative of PI Startup Advisory to register a business in Bahrain. If you are present in Bahrain, you can make a Power of Attorney at a public or private notary. In case you are out of Bahrain, you can make power of attorney from your home country. If your country is Hague Apostille Member, also get an apostille stamp from the foreign office.
We will require three proposed commercial names at this step. We will submit a request to MOICT to reserve the commercial and trade name of your CR.
In Bahrain types of CR / Commercial Registration are classified according to Owner’s liability. Following are the types of CR you may choose to register in Bahrain according to your requirements:
At this step, we will require an office/shop/workshop commercial address where companies head office shall be situated. As proof of address Shop Pictures, Tenancy Agreement Copy, and Electricity Bill Copy are required. If your CR is related to any specialized activity, approval from other licensing entities will also be required accordingly.
We will draft the memorandum of association/Articles of Association and submit it to MOIC after the your approval.
The draft memorandum shall be notarized from a private notary (Urgent) or public notary (Upon appointment)
TIt is mandatory to open the company’s bank account and deposit the capital. PI Startup Advisory experts will assist the client to ensure swift bank account opening.
Notarized Memorandum and Bank certificate shall be submitted to MOIC for final approval. Once approved your CR is registered.
In Bahrain types of CR / Commercial Registration are classified according to Owner’s liability. Following are the types of CR you may choose to register in Bahrain according to your requirements:
✓ There is no restriction on the number of partners.
✓ There is no minimum capital restriction.
✓ WLL is governed by The Commercial Companies Law DECREE LAW NO. (21) OF 2001 PROMULGATING.
✓ Unlike Individual Establishment, the liability of the shareholder is limited to the extent of
investment.
✓ The company is considered separate from the owner.
✓ The amount, type, and currency of the capital are declared in public along with percentage of the ownership of each shareholder.
✓ Directors of the company are nominated.
✓ Annual audited financial reports are submitted to MOICT every year (1st year is exempt).
✓ This type of business can also be owned by other nationalities as well depending on business
activity.
✓ It allows investor visas (Residence Permit) to its shareholders.
Note: Single Person Companies (SPC) registration type has been canceled. All existing SPC’s are converted to WLL. (Read more here: SPC changed to WLL)