SOVEREIGN BUSINESS HUB
The Sovereign Business Hub is a new business incubator that is designed to increase the successful development of new businesses, job creation and employment in specific sectors that are aligned with the Kingdom of Bahrain’s areas of opportunity.
INSPIRING START-UPS
The aim of the Sovereign Business Hub is to inspire, motivate and nourish small businesses and start-ups with innovative products and services in Bahrain by providing a platform for entrepreneurship and a centre of excellence for business collaboration.
This will lead to job creation, economic diversification, innovation and technological commercialisation in Bahrain, while encouraging business retention in the Bahraini community and enabling Bahrain-based firms to have a regional and global impact.
Bahrain is one of the most open economies in the Middle East and North Africa (MENA) region and is well positioned to provide investors and start-ups with investment opportunities and access to regional and international markets.
The Bahrain government is focused on encouraging foreign direct investment (FDI) in the manufacturing, logistics, information and communications technology (ICT), financial services, tourism, health and education sectors.
Bahrain works to promote startup culture and aims to foster a greater role for the private sector to promote economic growth. In most sectors, Bahrain permits 100% foreign ownership of a business or branch office and has no tax on corporate income, personal income, wealth, capital gains, withholding or inheritance. Bahrain has no restrictions on repatriation of capital, profits or dividends.
THE BUSINESS INCUBATOR MODEL
The Sovereign Business Hub is seeking entrepreneurs and startups that want to embrace the ‘business incubator’ model, which is designed to:
- Build a positive space in Bahrain to incubate and support innovative ideas to promote employment
- Create more opportunities promoting job and wealth creation for aspiring entrepreneurs and start-ups in Bahrain
- Offer necessary support and facilities for start-ups and to promote technical ventures in Bahrain
- Provide the global network and exposure that so many entrepreneurs and start-ups desire but few can access, giving them the best opportunity to have a local, regional and global impact.
COMMERCIAL REGISTRATION AND OFFICE SPACE
Sovereign will provide comprehensive advice and support to investors and start-ups to set up their operations in Bahrain in the right way. Bahrain offers a range of vehicles through which to do business – the choice will be governed by the nature and size of the business, as well as the requirements of the investors. All types of Bahraini company give the shareholders or the directors a Residence Permit in Bahrain.
Having set up and registered your business in Bahrain, the Sovereign Business Incubator will provide start-ups with physical space, available on flexible terms, with advanced Information and Communications Technology (ICT) capacity.
We will also assist with applications for work permits and residency permits, where necessary, for foreign employees.
GUIDANCE AND MENTORING
Having provided corporate services on an international basis for over 35 years, Sovereign has also built up a global network of clients – companies, entrepreneurs, private investors and high net worth individuals (HNWIs) and their families – as well as regulators, government officials, banks, family offices, law firms, accountants and consultants
The Sovereign Business Hub is able to leverage this expertise and this network to ensure that its clients have the best opportunity to get through the initial incubation period, to grow and development their business and, ultimately, to exit in the most efficient way possible.
The Business Incubator offers access to business guidance, counselling and mentoring via a panel of successful and inspirational experts across a range of business activities, who are committed to sharing their knowledge and working with entrepreneurs towards developing strategies for success.
The Business Incubator will also provide workshops and programmes for vocational and technical skills training and development, together with regular networking and marketing events and assistance with business planning.
ADMINISTRATIVE SUPPORT
Sovereign Trust Consultancy (Bahrain) will further provide the administrative support to maximise opportunities and achieve long-term sustainability, from commercial registration through to full back-office solutions and assistance with tax and regulatory compliance. This includes PRO services, accountancy, human resources, pensions, insurance, obtaining local licences and residence permits, executive relocation and specialist tax advice.
Explore Corporate Services in 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.
