Bahrain is a prosperous GCC country that is hailed to be one of the primary choices for entrepreneurs around the world. Its strategic location in the Persian Gulf and booming economy with diverse investment opportunities are cited as reasons for this perception. Moreover, the country nurtures a business-friendly environment with liberal legalities and a favorable tax regime. From a broader perspective, many other reasons including a skilled and affordable workforce also make it an ideal destination for entrepreneurs.
International moving companies in Bahrain with expertise in business relocations and facilitating the workforce find this as an opportunity worth exploring. As a result, there are enough reliable moving companies for assistance. Before searching for the right movers for your needs it will be worth contemplating on the benefits that make Bahrain ideal for businesses.
Strategic Location
The geographical location of Bahrain in the Persian Gulf makes it a gateway to the Middle Eastern markets. Moreover, a regional market and an overwhelming consumer base located in a 4-hour flight radius enhance its position as an investment zone. Connectivity is also not an issue with the quality infrastructure of the Bahrain International Airport and the renowned Khalifa Bin Salman Port. Thus Bahrain sets an ideal location for prosperous investments.
Liberal Business Environment
Firstly Bahrain provides for 100% ownership in business in most of its sectors. This enables many foreign investors to run businesses in the country without the need for partners or sponsors. As a result, entrepreneurs find themselves in a position of maximum control over their investment projects.
Then there is the bureaucratic system that gives minimal downtimes for establishing enterprises. The World Bank applauds Bahrain as having one of the fastest business registration processes in the region. The minimal registration times that its Bahrain Investors Centre offers is found to be as little as 1.5 days. Relocation companies in Bahrain also cite the low level of corruption in the country as a contributor to a liberal and trouble-free business environment.
Favorable Tax Regime
There is no personal income tax, capital gains tax, and wealth tax in Bahrain. Moreover, most of the sectors are exempted from the liability of corporate tax. Such a positive tax environment adds to the profit share of the company enabling them to invest in other aspects of growth. These prospects for profit and growth make Bahrain alluring to entrepreneurs around the world.
A Robust Economy and Growth Potential
World Bank insights on GCC projects its economy in a promising growth trajectory. It predicts a growth of 3.6% in 2024 and 3.7% in 2025. Bahrain undoubtedly takes an active role in this growth prospect with an economy that stays aloof from depression. Citing the more or less stable political scenario in the country international moving companies in Bahrain also point to the prospects of a stable and robust economy in the future.
Skilled and Cost-Effective Labour
The country’s insistence on inculcating education and skill development in its youth ensures that there is enough skilled workforce to meet the diverse requirements of its industries. Moreover, competitive labor costs minimize the operational costs of enterprises.
Reliable IT Infrastructure
The ICT Development Index published by the International Telecommunication Union (ITU) ranked The Kingdom of Bahrain as 3rd in the Arab world. It is also ranked in the 5th position with respect to its global competitors. Such rankings vehemently speak of the robust and reliable IT infrastructure in Bahrain. This equips businesses in the country with high-speed internet, extensive mobile network coverage, and advanced digital solutions. The international moving companies in Bahrain also point to the e-governance initiatives in the country that ensure a convenient interaction with the government for businesses.
Government Incentives
The Golden Residency Visa could be hailed as the benevolent incentive offered by the Bahraini Government for international investors and entrepreneurs. Such long-term residency options ensure that the investors receive the requisite security as they pursue their investment in the country.
Free Trade Agreements
The Free Trade Agreements of this GCC country with prominent economies such as the United States and Singapore ensure that its enterprises are connected with the global market. Such FTAs featured with concessions in trade barriers and tariffs ensure that the businesses in Bahrain get a competitive edge in a global market.
Diverse Economy
Like its Middle Eastern Neighbours Bahrain has also committed to diversify its economy beyond the oil industry. As a result, diverse sectors such as finance, manufacturing, real estate, and tourism offer innumerable investment opportunities in the country.
Quality of Life
The UNDP Human Development Index ranks Bahrain in the 33rd position for 2022. Such a position among other 204 countries and territories projects its high standards in healthcare, education, and quality of life. This is one more reason that attracts expat entrepreneurs to come and settle in the country along with their families.
To sum up, we have discussed the innumerable reasons that make Bahrain highly appealing for expat entrepreneurs. Now that you have enough reason to choose Bahrain for your business aspirations it is time to find the best relocation companies in Bahrain who can help you through the journey. Helpxpat being the leading player in the field can offer the ultimate assistance. Reach out to us for further collaborations.