Bahrain International Investment Park (BIIP)
The Middle East region dwells heavily on the oil and petroleum industry. Friendly business relations and double taxation treaties have made the zone one of the growing destination hubs in the world.
Among the various nations in the Middle East, the Kingdom of Bahrain is one of the top investment destinations. As the government has identified the interests of the investors and business owners, they have built dedicated free zones that focus on dedicated business activities.
One such booming free zone destination is the Bahrain International Investment Park (BIIP).
If you are a business owner who has been planning to invest in Bahrain, then this is the perfect guide for you to understand the essentials.
An Introduction to the Free Zone
Located between Shaikh Khalifa Bin Salman Port and Bahrain International Airport, the BIIP is designed to attract high-quality foreign direct investment in Bahrain.
Established in 2005 by the Ministry of Industry, Commerce and Tourism (MOICT), the flagship destination is a strategic site to attract MNCs and deal with export-oriented indigenous companies.
The zone is one of the seven industrial areas owned by the MOICT, and each area focuses on a wide variety of business segments.
Strategically placed to grab the attention of foreign investors, it creates room for local and global employment. So, setting up a business in Bahrain is one wise decision that any investor can proceed ahead with.
Business Opportunities in Bahrain International Investment Park (BIIP) Free Zone
The Bahrain International Investment Park is an ideal location that focuses on the following business activities:
- Manufacturing
- Medical Technology
- Electronics and Material
- Food & Beverage
- FMCG
- Plastics & Fibreglass
- Pharmaceuticals
- Chemicals
- Light Engineering
Apart from the industries mentioned above, the zone is also led by the export services like insurance claims, administration, software and information system.
Benefits of Incorporating Business in BIIP
A few of the benefits that the BIIP offers to the business investors are as follows:
- Competitive rental rates
- Competitive utility costs
- 100% foreign ownership
- No corporate tax
- World-class infrastructure
- Wide duty-free access
- Strategic location (availability of free zones in Bahrain)
- Customs duty exemptions
- Talented human capital
- Tamkeen’s support through funding
- The dedicated professional management team
- Comprehensive onboarding and after-care support
- Five years from Bahrainisation
Property Options Available in BIIP
Company incorporation in Bahrain International Investment Park (BIIP) benefits business investors to invest in multiple properties.
A few of the options available includes:
- Land
- Pre-built industrial units
- Office units to let
How to Setup a Business in Bahrain International Investment Park?
When it comes to the incorporation of a business in BIIP, there are a series of steps to be followed, which include:
Clear Business Idea
First and foremost, you need to have a clear idea of the business you want to incorporate. This will help you to streamline your thoughts accordingly.
Join Hands with Expert
Once you are clear on your thoughts, make sure to join hands with a professional expert who is well-versed in the legal procedures.
Submit the Documents
Next, you need to submit the relevant business documents to the appropriate business authorities. The set of documents required for setting up a business in BIIP involves:
- A duly filled application form
- Address proof of the business investors and shareholders
- Identity proof of the business investors and shareholders
- A detailed business plan
- Preliminary site development plan
Get the Project Approval
After submitting the documents, the relevant authorities scrutinise the. Finally, in case the documents stand valid, the license gets issued.
If the approval gets rejected, you need to have a word with your business guide.
Carry Out the Business Activities
After obtaining the approval, you can carry out the business activities with ease.
Once the company incorporation is completed, you need to open a bank account in Bahrain to carry out the business transactions.
Opening a company in the BIIP is a smart move that you can proceed ahead with. BIIP is a perfect one-stop solution that facilitates business investors through the application process.
So, what are you waiting for?
Business Setup Worldwide is one of the top ten business consultants in Dubai who has been helping business investors set up a business in Bahrain at ease.
Experts at BSW take complete care of the incorporation procedure and provide you with tailored solutions accordingly.
For more information, feel free to have a word with our experts. Contact us today- we’d be glad to assist!
