The Bahrain Ministry of Industry and Trade has approved a change to the business ownership percentage of foreign investors.
Cabinet on 18 July, 2016 has passed a decision to increase the percentage so that foreign investors will be able to acquire 100 percent business ownership in various sectors.
The amendment to the Commercial Companies Law comes in as an example of Bahrain’s aim to develop the country’s economic performance and increase the qualitative job opportunities for both expatriates and nationals.
The revision of the Commercial Companies Law will have a positive influence on the economic development of Bahrain and is meant to ‘spur growth, generate rewarding jobs for citizens, and attract businessmen to invest in various economic sectors’, therefore supporting economic diversification, a movement that goes hand in hand with the GCC governments’ efforts to reduce oil dependency.
The ownership change will apply to various sectors, including real estate, entertainment and leisure, food and hospitality, health and social work, manufacturing, scientific and technical activities.
New Business Destination
The Dubai real estate sector experts approve of this move, assured that the decision will encourage more investors to set up a business in Bahrain and confidently build on the local and regional property market. The decision boosts investor confidence in the Kingdom and ultimately makes Bahrain an attractive work and living destination.
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