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Shelf Company in Bahrain
Updated on Tuesday 21st April 2020
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Shelf companies, also known as ready-made companies, are legal entities which were registered in the previous years and have stayed inactive. When an investor decides to acquire a shelf company in Bahrain, the time needed for purchasing it is much shorter than if they were to set up a new legal entity. Also, such a company enables its owners to avoid a number of inconveniences.
Most common forms of shelf companies in Bahrain
According to new amendments made by the local authorities, it is now possible to acquire shelf companies in Bahrain.
These companies can be in any form and are valid for one year, in which time the appropriate approvals and licenses have to be obtained.
A shelf company in Bahrain can be sold, however, its operations have to be approved by the government.
The most common types of legal entities in Bahrain are the closed joint stock company and the limited liability company.
For setting up such a company in Bahrain, the following documents have to be submitted:
• an online application;
• a pre-approval from the appropriate government ministries, which is effectuated through an online portal called Sijilat;
• the draft memorandum or the Articles of Association;
• the in-kind capital evaluation, which is done by an auditor, if necessary;
• other documents - our company formation advisors in Bahrain can offer more details on what these other documents consist of.
Advantages of shelf companies in Bahrain
Shelf companies in Bahrain bring their investors numerous advantages, such as:
• They save time, since their purchase procedure takes less time than if they decided to set up a new company ;
• They enable an easier access to bank credits;
• Since they have a history, they are able to provide a greater credibility to local partners, investors and clients;
• They confer the opportunity to be able to bid for contracts.
The shelf company may need to be registered for VAT purposes in Bahrain. One of our agents can provide more details.
If you want to set up a shelf company in Bahrain, or if you need any company registration advice in Bahrain, please feel free to contact our friendly staff.
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