MORE than 11,500 companies registered in Bahrain are 100 per cent owned by expatriates, revealed Industry and Commerce Minister Abdulla Fakhro.
He added that the 11,664 Commercial Registrations (CRs) represent 15pc of the total active CRs in the market – 80,126.
According to the minister, who was responding in writing to Parliament, there are no expatriate employees at the ministry.
He added that 16pc of active CRs – 13,106 – were partly owned by expatriates while 5,052 CRs were cancelled and 188 companies liquidated throughout 2023.
“The most prominent reasons for the cancellation of a CR include legal and regulatory procedures applied in various cases such as the failure to renew on time or the desire of CR holders for voluntary cancellation,” said Mr Fakhro.
“Reasons also include selling the establishment or transferring its ownership as well as cancellation by the licensing authorities due to violations and non-fulfilment of requirements.
“In most of the mentioned cases, the CR can be revived by rectifying the situation.”
According to Mr Fakhro, the most common legal form adopted by these companies is Limited Liability Company with their total capital value in Bahrain amounting to BD1,753,506,842.
The most attractive areas for foreign companies in the economic sector in Bahrain include professional, scientific and technical activities, information and communication as well as administrative and support services activities.
&uuid=(email))