How to set up your own company in Bahrain

2POSTS

6 years ago

For consultancy petrochemical activities would you recommend a SPC ? Will I get business & family VISA to sponsor 3 family members plus myself ?

XTang Bahrain/UAE/KSA Expert

11978POSTS

6 years ago

#202

SPC or WLL is entirely up to you - depends on your business needs and your business structure. You need to study that for yourself.

An investor visa (you get one for each investor so for an SPC, you get one) allows you to sponsor your family members i.e wife and kids. So no issue there.

Juan_KSA_Bahrain Member

2POSTS

6 years ago

#203

Thank you for the quick reply.
To be honest, we will set up the company because we need the family VISA, I may do some consultancy business also.
So, I guess the SPC type is the best as I have no partners.
Regards, Juan

XTang Bahrain/UAE/KSA Expert

11978POSTS

6 years ago

#204

Yes that would be easiest in that case.

WorldCitizen89 Active member

42POSTS

5 years ago

#205

May I ask for your inputs about the following:

Currently on self sponsored visa through my SPC.
Thinking about moving onto a third party sponsored visa.

What would the process of changing visa sponsor look like and are any hiccups to be expected?
Do I have to be in the Kingdom or can it be done while being abroad (obviously no in/out during the application process I reckon)?

About the SPC:
Is there any way to declare the SPC inactive or is a complete shutdown the only way?
I would move all my current business activities to my other company abroad.
It would be just to have the SPC as a backup, in case I'd like to use it again in the future?

Appreciate any hints and past experiences if any.

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#206

What do you mean third party sponsored visa? is it a work visa or an investor visa? because right now, you are on an investor visa. There is transfer only from investor to investor visa. If it is a work visa, you will have to cancel the investor visa and then apply for it. In both cases, you HAVE to be inside the Kingdom and cannot leave until the process is done.

Once CR is active; there is no such thing as declaring it as inactive - once you do that, the process of liquidation needs to be followed. Alternatively, you can let the renewal lapse and it will show as deleted by law.....but won't be fully deleted. You can always revive it later on by paying penalties and what not. But with a CR in that condition, you are not likely to get approvals to set up companies in the future until you sort it out.

WorldCitizen89 Active member

42POSTS

5 years ago

#207

Thanks for your reply, it would be work visa.

Let‘s say I cancel my existing investor visa (guess that‘s done online?) and the work Visa application will be done immediately, any idea on how long it will take for the new visa to be ready?

Though that it‘s better to go the proper way of going into liquidation, thanks for the confirmation.

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#208

Yep you can cancel visa online. Takes 10 seconds at max. New work visa can take anywhere from 2 to 4 weeks depending on the company efficiency.

WorldCitizen89 Active member

42POSTS

5 years ago

#209

Thanks XTang.

syedshah201 Member

2POSTS

5 years ago

#210

Hi, we are processing our CR through an agent in Bahrain but now his attitude has changed since the lock down knowing we can not come enter Bahrain from Saudi Arabia. Our process was 99% complete and now he is asking for more money then we agreed in the beginning. we agreed to pay 3 months rent until the CR and visa process done. Then we will manage our own address once move to Kingdom. Please guide us how to resolve the issue amiably solve to finish our process without extra cost.

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#211

I am not clear as to what your question is.

It seems you used a bad agent. Either way, you can leave the CR as it is and then when the borders open, come in and find an address and complete the process yourself.

If you read my advice in this sticky, the very first thing I say is DON'T USE AN AGENT.

syedshah201 Member

2POSTS

5 years ago

#212

we started a CR process through a consultant, because we do not hold a Bahrain CPR/Visa. Its an agent with good reputation and recommended by friends who worked with him. The problem here is we paid him the fees for Visas and he has the credit and paid him the fees. We are looking for an advise how to resolve the issue and finish our remaining process.

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#213

Why did you pay him the fees for the visa? The fee is ONLY paid once the visa is approved. There is NO fee required to be paid prior to that minus 5-10 BD here and there for application.

Honestly, unless you have a contract with him with all documentary evidence of payments and are willing to go to court; there is no simpler way. Except if you try and talk to him and agree some sort of solution. I can't advise you how as I don't know all of your details and your messages are very unclear in terms of specifics.

Edit: Just saw your private message. Walk away from this agent. He is scamming you. Instead just read the sticky on the forum that I have posted to FIRST understand how the process works. Scroll to the first page please.

belladonna11 Member

1POSTS

5 years ago

#214

Thank you so much for putting this together this very helpful information.
I have some questions (I hope you don't mind).
I am wanting to open a SPC in Bahrain to operate a freelance writing business.
I am not currently in Bahrain but wanting to live there as I wait for marriage permission to be approved with my Saudi partner.
Just wondering if freelance writing would be allowed to open a SPC and how much money should I have available to open it?
Also should I start the process (or get my Saudi to help me start the process) from abroad before I arrive in Bahrain or should I come there on a visit visa and then begin the process?
Any help you can offer would be greatly appreciated.
Thank you again.

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#215

For the specific activity, as mentioned already, you need to go to Sijilat.bh and see which activity fits your proposed business.

As far as financials are concerned, you need to rent an office, pay monthly fees to LMRA and so on. All of that can vary but as a general rule of thumb, you should have at least 6 months of operating expenses available in your bank account at all times.

It is better for you to be here to start the process. Otherwise it will take longer to arrange power of attorney and so on.

Maria1963 New member

4POSTS

5 years ago

#216

is the flexi visa holder can apply for investor visa? thanks

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#217

After cancelling flexi-permit.

WorldCitizen89 Active member

42POSTS

5 years ago

#218

Hello everyone,

can someone walk me through the financial audit procedure?
What is the earliest to start the process and what’s the deadline?

I‘m basically running an excel spreadsheet for my account, with credit and debit transactions listed with reference to the relevant invoices.
That’s backed up by copies of the invoices and bank statements.

Is there anything more sophisticated required or is it now just a matter of handing it over to an accredited agent to get approved for the ministry?

Would love to hear your experiences.

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#219

Hand over to a firm which is accredited. That's all you have to do. They will ask questions as required and prepare the financials and then audit them.

Sometimes people offer to make your financials and then get them audited from a firm they have a partnership with.

Total cost can vary between 250 to 400 BD.

WorldCitizen89 Active member

42POSTS

5 years ago

#220

Thanks XTang.

And that has to be done by the end of the year or can I start looking into it let’s say in October already?

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#221

Depends on your company cycle. Financials are due after the first year of operations. Roughly you should be uploading them before September.

WorldCitizen89 Active member

42POSTS

5 years ago

#222

Oh wait, so Registration date was CR 04/19 and I was told it has to be done at the end of the year first full calendar year. That would mean I‘m overdue by now?

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#223

Yes. Check if there is a message from moic - log into sijilat.

WorldCitizen89 Active member

42POSTS

5 years ago

#224

Thanks XTang for your help.

nawaid123 Member

2POSTS

5 years ago

#225

Hello XTang. First of all, I want to thank you for providing so much valuable information. I have 2 issues I am trying to resolve.
I own an SPC in Bahrain since 2017.
1) I need to add an Ultimate Beneficial Owner, but when I go to Sijilath and try add it gives me a message saying "Only board of directors or authorised signatories" can add the information. Can you please advise.

2) I want to add my son as an investor. So I have to change the company structure from SPC to WLL & then add my son as a shareholder/director and finally I need to apply for his investor visa. My auditor is trying to sell his services to do this service but I want to do this myself as much as possible. Can you kindly advise the process.

Thank you.

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#226

1) I am not sure but it seems like you either didn't get an advanced eKey or did not set yourself as authorised signatory. Go to your CR and see the info - what is showing there? If its correct but issue still there, then its an IT issue and you need to contact sijilat support

2) It's straight forward. First you will change company type on sijilat and follow the prompts and upload the documents. You will need to go the notary for changing the articles etc. In any case, it's a streamlined process - just follow the sequence through sijilat.

nawaid123 Member

2POSTS

5 years ago

#227

I am already the Authorised Signatory & also shareholder and director, so it seems there is an IT issue. I will contact the Sijilath IT Support in this case.
Thank you very much.

WorldCitizen89 Active member

42POSTS

5 years ago

#228

Another one for you forum and especially for XTang:

By the looks of it the company form SPC will come/came to an end.
As far as I‘m informed there hasn’t been announced any grace period and what procedure for the transformation to a WLL has to be expected yet.

Has anyone more information on this matter?

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#229

As far as I know, you don't have to do anything, the conversion will be automatic.

ezrajalel Member

1POSTS

5 years ago

#230

Hi Xtang. I want to open an interior design office. It's mainly designing no contracting. I look upon the government website but the choices of business type are a bit confusing.

If you have any idea about getting a CR for interior design consultancy with SPC type can you please guide me.

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#231

There is no SPC type. From now, it's WLL only. And you are going to have to search the activity guide yourself as I don't know exactly what you want to do. I suggest to search CRs of interior design consultancies that you know about to see what activities they have listed on their CR - to get an idea. Do this on Sijilat.

nmkalbalooshi New member

3POSTS

5 years ago

#232

I'm an agent who can help setup a business. Some facts are outdated in this post.
And regarding the proce 800 is way too much. I donit for a fraction of this amount.

XTang Bahrain/UAE/KSA Expert

11978POSTS

5 years ago

#233

I wrote this 4 years ago and the last update was 2 years ago. Of course some facts would be outdated - I haven't had the time to do a full update. As an example, the cost has gone down a lot since that time since every other person is offering business set up services. Also the process has gotten simpler and there is even less need for an agent than there used to be.

Instead of pointing out the obvious, you can help by suggesting updates to the facts you are referring to.

TheDJ Member

2POSTS

4 years ago

#234

Excellent thread! I see it’s been here for quite a while. Has there been any change to the processing time from first applying for the CR, until the process is done with Visa and CPR processed?

XTang Bahrain/UAE/KSA Expert

11978POSTS

4 years ago

#235

I haven't had the time to update it. The process, if anything, has become smoother excluding the issues with covid (which leads to some delays obviously).

decentmale Active member

37POSTS

4 years ago

#236

Is there any way Saudi Iqama holder doing job in saudi can settle their family in Bahrain by taking a flat on rent in Bahrain and then applying for Permanent residence in Bahrain? Please advise. Thanks in advance.

decentmale Active member

37POSTS

4 years ago

#237

Dear Mr. Baloshi,

Hope you are doing good, what are the charges for opening a CPR of 4 Inverstors for Consultancy Firm. And you give me the break down of all charges in detail and all the prices in BD and your fees also.

Regards,

XTang Bahrain/UAE/KSA Expert

11978POSTS

4 years ago

#238

decentmale wrote:
Is there any way Saudi Iqama holder doing job in saudi can settle their family in Bahrain by taking a flat on rent in Bahrain and then applying for Permanent residence in Bahrain? Please advise. Thanks in advance.

Rental flat doesn't give you a residence visa. Read the other stickies, only ways are:

1) Visa through employer
2) Set up company
3) Buy property
4) Get a paper CPR through NOC from Saudi employer (you can live here on that and it comes with a longer term multiple entry visa)

decentmale Active member

37POSTS

4 years ago

#239

Thanks for your quick response. I really appreciate for your time providing genuine help and information to others.
The last option is the one I was looking for. So if I go with the last option, provided if my employer agrees for it, do I still need agent to process my application for paper CPR or I can do it my self by visiting Bahrain or via online portal. And what will be the charges for long term Multiple Visa in that case. Do I need that long term Multiple Visa for all the family members or just only for me. As my family members will stay in Bahrain and I will come to Saudi daily from Bahrain as I will keep my Iqama and thinking to arrange exit for my family from saudi once paper CPR is arranged.

XTang Bahrain/UAE/KSA Expert

11978POSTS

4 years ago

#240

You need an agent. There is no online portal for that and right now, you cannot come to Bahrain at all as since Friday, 25th of June, they are only letting in Bahrain residents (CPR holders), visa holders and nationals via the causeway (who knows how long this will last). You can get it for any Iqama holder who is under your sponsorship (and they will need it to stay in Bahrain). But be aware that once you cancel your family's iqama, they are no longer eligible for this. This is given ON the basis of an existing Iqama and is NOT a substitute.