Doing Business in Bahrain Guides. Middle East. Bahrain is one of the most diversified economies in the Persian Gulf. Highly developed communication and transport facilities make Bahrain home to numerous multinational firms with business in the Gulf. As part of its diversification plans. Over the last four decades, Bahrain has diversified its economy away from oil more rapidly than any other Gulf State, supporting steady and stable economic growth. Other major economic activities are production of aluminum (Bahrain’s second biggest export after oil), finance, and construction. Bahrain competes with Malaysia as a worldwide center for Islamic banking.
Doing Business in Bahrain Guide
Bahrain drive to attract and support foreign businesses is the Bahrain Economic Development Board (EDB), a dynamic public agency with an overall responsibility for attracting inward investment into Bahrain, and is focusing on target economic sectors in which the Kingdom offers significant strengths. The Heritage Foundation ranked Bahrain as the world’s eighteenth freest economy in its 2015 Index of Economic Freedom, the highest ranking of any country in the GCC region. Bahrain permits one hundred percent foreign-ownership of a business or branch office, without the need for a local partner; no other GCC member state allows this. Bahrain has no tax on corporate income, personal income, wealth, capital gains, withholding, or death/inheritance. Bahrain has no restrictions on repatriation of capital, profits or dividends. Learn more from Bahrain Business Guide provided by ExportGov from the US Government.
