Sovereign’s Private Client services assist families and entrepreneurs around the world to structure their assets to support personal, family, commercial and charitable interests. Sovereign has the depth of technical expertise to identify and create the optimum solution for our clients’ needs, whether that be asset protection, estate or succession planning.
We can advise on all aspects of the design and implementation of structures from a broad range of vehicles in Bahrain and elsewhere, which can be tailored to meet a client’s diverse personal and business needs.
Sovereign can assist with work permit and visa processing, Bahrain ID card and driving licence processing. Our PRO team can also assist with any local approvals or documentation involving local government bodies where translations and notarisation may be required.
If you are looking to set up a company in Bahrain, please refer to our Corporate Services section.
Immigration and Residency
Foreign nationals wishing to live and work in Bahrain will require both a residency visa and a work permit. The fastest and easiest way to get a visa to the Kingdom of Bahrain is to apply for a Bahrain investor work permit. This is a two-year permit is made available to shareholders in a local company. Having obtained the investor work permit, the investor can obtain a residency visa from the General Directorate of Immigration and Passport (GDIP) through a “No Objection Certificate”. The investor work permit also allows the holder to act as the sponsor for residency visas for family members.
In addition to our corporate and bank account services, Sovereign can assist with work permit and visa processing, Bahrain ID card and driving licence processing. Our PRO team can also assist with any local approvals or documentation involving local government bodies where translations and notarisation may be required.
Through our partners in Bahrain, we further offer a “one-stop-shop” relocation service for clients who are moving to Bahrain or the UAE. This includes orientation, home search, temporary accommodation, schooling search, moving and storage, car rental, pet importation, concierge advisory services and lease renewals, as well as exit services.
Bahrain Fund Services
The Central Bank of Bahrain (CBB) is the principal regulator of the investment funds industry in Bahrain. All investment funds established and/or marketed in/from Bahrain are supervised and regulated by the CBB. Since 1999, the CBB has permitted banks and financial institutions that are not operating in/from Bahrain to establish and market schemes in/from Bahrain, provided the institutions are of high standing, good reputation, and are operating from reputable international financial centres. Fund structures include:
- Retail Collective Investment Undertakings (CIUs) – May be offered to all types of investors and are subject to detailed requirements, including restrictions on the types of financial instruments or other assets that may be held in the CIU, in order to limit risks to the general investor.
- Expert CIUs – may be offered only to expert investors and have greater investment flexibility, notably in terms of asset classes and risk concentration limits. The minimum initial investment is USD 10,000.
- Exempt CIUs – largely unregulated CIUs that may be offered only to accredited investors, and impose a minimum initial investment of USD 100,000. Exempt CIUs are only regulated to the extent that they must register with the CBB prior to being offered to investors. They are not subject to any restrictions on their investment policies.