Many investors forget that company maintenance and corporate compliance is equally as important as the registration and set up process. In fact, most of the work relating to your company will be in line with compliance requirements, annual renewals, document amendments and ongoing government obligations.
Sovereign PPG are a corporate service provider in the Kingdom of Bahrain. We provide company maintenance and compliance services to our clients. Sovereign have developed a comprehensive services package which encompasses all of the requirements needed to keep your company compliant, protected and in good standing. The Company Maintenance & Compliance Services include:
- Commercial registration, business activities, licensing and Bahrain Chamber Membership renewals
- Ultimate Beneficial Owner (UBO) Filling/Renewal
- Registered Address Change
- Violation and Regulations Support
- Audit Reports and Accounting & Bookkeeping Filing Support
- Government payments – LMRA, SIO/GOSI, EWA
- Work visas and CPR Issuance
- Employee onboarding, LMRA medical examinations, biometric registration, and company support for staff
- Annual General Meeting (AGM) & Representation
Commercial Registration and Beyond
While getting commercial registration right is important, beyond CR issuance is where the real work and true obligations begin.
Sovereign support with the initial establishment and commercial registration of your legal entity in Bahrain, selecting relevant business activities, registered address and all the procedures related with the issuance, updates and renewals of your commercial license.
We support with:
- New CR request
- CR renewals request
- Commercial registration amendment
- Lease agreement registration on CR
- Changes in CR details
- VAT Registration
- Vat Return Filing
- Commercial registration renewal
- Sijilat Services and Regulatory Filings
- Changes to Business Activities, Shareholders, Directors and Address Details
But, our true value comes in after your new business is established and you are up and running. We have the resources to provide expert support for your company administration.
Ultimate Beneficial Owners
It is important to note that Ultimate Beneficial Owner (UBO) declaration is mandatory for most commercial entities in Bahrain, under Ministerial Order No. 83 of 2020. It is required for investors who own or control more than 10% of the capital and voting rights to be declared and provide required documents and information. Due to this disclosure requirements there is administration required around UBO registration, filing, renewals and amendments.
Removing Violations and Regulation Support
Employers sometime unknowingly violate or breach regulations in Bahrain. This can include non-payments, wage protection system mandates, expired work permits, or having an employee work under a different sponsor. Whatever the case, employers can find themselves in a difficult position as regulatory violations can lead to fines or cause the company commercial registration to be suspended. If there are any unresolved government violations then CR renewal will not be allowed. CR renewal is mandatory every year in Bahrain and having an expired or frozen CR has many impacts such as frozen business banking, inability to hire or renew work permits and visas.
Sovereign offers Bahrain compliance violation help to companies who may find themselves in these types of situations. We support with:
- Removing Labour Market Regulatory Authority (LMRA) violations or help resolve labour violations in Bahrain
- CR violation removal or sijilat portal (e-service) flag
We can assist clients in removing certain violations by liaising directly with the relevant authorities.
Audits, VAT & ESR in Bahrain
Like most commercial entities, annual accounting, bookkeeping and audits are required in Bahrain. It is important for companies to keep updated books on transactions, payments and tax obligations. Sovereign support businesses in Bahrain with facilitating the submission of annual audit including audited financial statements, filing audit reports for the commercial registration, submitting audited accounts, VAT registration Bahrain, VAT return filing, economic substance reporting, returns and filings.
Government Fees
There are multiple occasions when companies in Bahrain need to make payments to government services or portals as it relates to the business and its staff obligations. Sovereign can assist in managing these requirements, ensuring a smooth and efficient process. Some of the most common include:
- Labour Market Regulation Authority (LMRA) fees
- Social Insurance Organization (SIO) / General Organization for Social Insurance (GOSI) Contributions
- Electricity and Water Authority (EWA) Bills
- Other Government payments and fees
Corporate Support for Staff and Onboarding
Sovereign offer corporate support for employers in Bahrain with onboarding staff and maintaining staff visas, residency permits and employer obligations as it relates to staff maintenance. This starts with visas all the way though to job offer processing and full onboarding.
- Visa renewals, cancellations and updates
- Immigration updates and clearance
- Social Insurance Organization registration
- National ID card – issue, renew and update the Central Population Register (CPR)
- Biometrics and Medical coordination services
Official Documents & Representation
Sovereign can represent the company before government authorities, ministry, auditors, visit banks, and other relevant third parties on behalf of the business, including handling document attestation, certificate attestation, power of attorney attestation, amending articles of association and annual general meeting (AGM) documents in Bahrain.
Tailored to your specific requirements
Sovereign have designed a bundled services package which we refer to as the ‘Green Pack’ which accounts for all the ongoing Company Maintenance & Compliance requirements for your company in Bahrain. We specifically designed this to be able to keep your company in the green light, in other words, in good standing with the Bahrain government and governing authorities.
We can tailored these services to match your requirements as a business. We support clients across all industries and can even help business owners while they are abroad to the fulfil and complete these administrative functions.
To learn more about our services in Bahrain, contact us.
Explore Bahrain
Please contact us if you have any questions or queries and your local representative will be in touch with you as soon as possible.
