Convert Individual Establishment to WLL
Why to convert Individual Establishment to WLL
Want to increase your annual profit? Willing to expand your business in every corner of the country? Want to gain the confidence of both public and private partners? Then, consider converting your individual establishment to a WLL company. With our fruitful conversion process, your business will be able to champion more growth, value, and legitimacy.
An individual establishment refers to the commercial entity that is owned by a citizen of Bahrain or those residing in the Gulf Cooperation Council (GCC) countries. Using this establishment, the citizens can establish their individual establishment business in Bahrain. However, with such a model, the owner is responsible for all the liabilities and debts incurred in the operations.
On the other hand, if you choose to set up a WLL company, then you will only have limited liability falling on your shoulders.
Impact of Converting Individual Establishment to WLL
- Issuance of new commercial registration number
- Disclosure of the nature of the invested capital
- Eligibility of the shareholders for investor visas
- Notarizing of the Declaration of Incorporation
- Cancellation of the resident and work permits from the old branch
- Company bank account will be opened.