Expanding to Bahrain? Know the Viable Options Available

Expanding to Bahrain? Know the Viable Options Available
Bahrain, the sunny Persian Gulf, with over 8 million tourist visas per year, is associated with a progressiveness that also reaches its
business culture. The Middle East, with its reputation as centre for glitz, glamour and excitement is a popular destination with the jet set.
With well developed transport and communications amenities, Bahrain is a fast-growing market at the heart of the Gulf, which has a
variety and openness and continues to present a number of prospects for expanding a business here.
Why Expand to Bahrain?
A stable government with progressive attitudes has helped to mould the country into a well developed economy. The appealing taxation
and trade incentives are possibly the principal promotion points for an international expansion in Bahrain. Known for oil and gas, the
country has made no attempts to hide its intention of diversifying beyond the same and attracting foreign investment, with banking,
financial services, education, healthcare and construction, all offering immense business opportunities. The incentives for investors are
tremendous as the kingdom is pursuing a policy of privatization on its ports, airport services, transport and utilities.
Although small, Bahrain holds a prosperous economy and has gained from strong economic development in recent years. It has the freest
economy in the Middle East with a free trade agreement with the US and bilateral trade and economic agreements with 43 other countries.
There is good accessibility to the world's business market, because of its central location in the Middle East. There is also a great deal of
emphasis on the development of infrastructure, which clearly indicates the commitment the government has in creating a good base for
business.
A quick glance at the prohibited activities in Bahrain
As the government strongly promotes foreign investments, Bahrain is home to many multinational firms. There are although a few
activities that are prohibited in Bahrain , and they are gambling, alcoholic drinks manufacturing, narcotics manufacturing, weapons
manufacturing, cigarette manufacturing, import of all waste and treatments, storage and dumping of radioactive materials and toxic waste,
import, manufacturing and dealing of asbestos, letter-pos t, import and industrial use of restricted chemicals, import of automatic
cigarette vending machines, pearl culture, drilling artesian wells and Internet exchange.
There are also certain business activities that are permitted only for Bahrainians and they are Press, publishing and distribution, car and
motorbike rental, fishing, foreign manpower supply, gas bottling and distribution, cooker re-filling and repairing, gas cylinder distribution.
Overcoming the Challenges
With low corruption and crime rate and a strong infrastructure, Bahrain is free of many of the pitfalls faced when investing in foreign
economies. Extensive research and teaming up with professional advisors can provide you with hassle free business start-up tips. With the
help of these experts, you can get unlimited assistance on local business practices, such as hiring employees, i nternational account
payables, providing benefits and incentives to the employees,get expat tax advice, etc. Seeking counsel from a professional will ensure that
you are taking the right steps towards the fulfillment of your i nternational business expansion .
Read more on - regulatory filings , eu vat rules

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