Parliament is set to vote on amendments to a key law that could result in reduced commercial registration (CR) fees for Bahraini entrepreneurs.
MPs are set to debate changes to the 2015 Commercial Registration Law that revises the annual registration fees for businesses and companies owned entirely by Bahrainis, offering financial relief and encouraging the growth of local enterprises.
The proposal, presented by MP Jalal Kadhim Al Mahfoodh, includes the following changes:
1. An annual registration fee of BD30 for sole proprietorship of a business establishment 100 per cent owned by a Bahraini citizen.
2. An annual registration fee of BD60 for a company 100pc owned, in partnership, by Bahraini citizens.
3. An annual fee of BD10 per commercial activity for businesses and companies owned entirely by Bahrainis, with an exemption for the first three activities.
4. Fees for foreign-owned businesses or companies with foreign partners will be determined by the relevant minister after Cabinet approval.
Currently, opening or renewing a CR costs BD50 and for every three commercial activities BD100 is charged annually, regardless of who owns or operates the business or company.
“The proposal aims to reduce annual registration fees for Bahraini-owned businesses and companies to align with the financial capabilities of local entrepreneurs,” said Mr Al Mahfoodh.
“It also promotes diversification and expansion of commercial activities, contributing to a more dynamic local economy,” he added.
“The new payment system will provide financial relief to local business owners, enabling them to focus on growth and sustainability.”
The Industry and Commerce Ministry pointed out that the fee should reflect the cost of services provided – without any discrimination based on nationality or other criteria, in line with Bahrain’s constitution and its economic policies.
“Bahrain’s obligations under the World Trade Organisation (WTO) and Free Trade Agreements (FTAs) require adherence to non-discriminatory principles. The government carefully balances these obligations with the interests of local businesses,” it added.
The Bahrain Chamber stated that the current fee structure was determined after extensive studies and aligns with regional standards.
It also recommended retaining the existing legal framework, as it provides flexibility for the minister to adjust fees based on the nature and size of the businesses.
Meanwhile, MPs will debate and vote on amendments to the 1975 Civil Service Pension Law and the 1976 BDF and Security Personnel Pension Law, presented by financial and economic affairs committee vice-chairman Mohammed Al Marafi. The proposals stipulate that not more than BD150 can be deducted from monthly wages of Bahraini employees who opt for pension loans in advance.
&uuid=(email))