Investment. The government actively promotes foreign investment and has in recent years promulgated regulations permitting 100-percent foreign ownership of new industrial establishments and the establishment of representative offices or branches of foreign companies without local sponsors. However, all commercial investments are subject to government approval and most must be made in partnership with a Bahraini national controlling at least 51 percent of the equity.
In early 2001 the government of Bahrain allowed non-GCC nationals to own high-rise commercial and residential properties, as well as property in tourism, banking, financial and health projects and training centers, in specific geographic areas. But the land and property which foreign investors buy must be used for its designated purpose.
The government announced in July 1999 that importers can now clear goods as soon as they arrive at Bahrain's ports rather than wait one or two days for customs clearance. Under the new procedures, traders can pay a deposit for insurance purposes and then return to the port later to settle customs duties.
Bahrain imposes standard international export controls.
Import / Export Documentation
Imported and exported goods are classified according to the Standard International Trade Classification (SITC), Revision 3.