On 18th July, Prime Minister of Bahrain, Prince Khalifa Al Khalifa, has approved an amendment to the existing Companies Law allowing foreign investors to acquire full business ownership. The Government of Bahrain has stated that the new law will “spur growth, generate rewarding jobs for citizens, and attract businessmen to invest in various economic sectors. (…) Bahrain will stand a good chance to improve its rating on the index of Facility of Starting Business – an asset which will encourage leading international firms to establish in Bahrain – the gate to the GCC and the region”.
However, 100% foreign ownership is only possible in designated sectors, i.e. residency, food, administrative services, arts, entertainment and leisure, health and social work, information and communications, manufacturing, mining and quarrying, water supplying and professional, scientific, technical and real estate activities.
