By Philip Dew
This convinced advisor to the industrial projects now attracting international traders to Bahrain emphasizes the Kingdom's function as a local monetary hub. It offers overviews of key sectors: typical assets, production, telecommunications and estate, and a transparent rationalization of the felony and regulatory framework, banking, finance, accounting, taxation and advertisement practices crucial for international traders and company companions
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17 of 1986 as amended by Ministerial Order No. 13 of 1994, variable capital companies may be formed as jointstock companies, of which there are two classes of capital: 36 Legal and Regulatory Framework • Management shares: there must be at least two shareholders, and only the holders of these shares have voting and management powers. • Participation shares: these shares participate in the increase of value of the assets of the company and its annual profits, but carry no management or voting rights.
Dress The dress code is wide-ranging. Gulf nationals will normally wear either traditional Arab attire or Western dress. Western dress for men is normally a lightweight suit and tie but may reduce to slacks and an open-necked shirt in the summer, or any variant in between. Women are expected to dress ‘decently’, without unnecessary display of flesh or emphasis of sexuality. As one remark by a tolerant observer put it ‘There is a difference between what you would expect to find on the beach and what you expect to see in the suq’.
There has been growing pressure for ‘Bahrainization’, with requirements for businesses to have a percentage of Bahrainis on the staff and increasing costs being implemented for the employment of expatriate workers. When one combines this internal pressure on costs with the external factor of India’s rapidly growing economy and increasing salaries ‘at home’, one may expect a sea change over the next five years in the nature of employment and administration within the region. Officially, all foreigners are employed directly by a local sponsor, who arranges their work permits and two-year residence permits and is responsible for their terms of employment within the country.
Bahrain's Business Environment by Philip Dew