Foreign-owned online companies must invest at least BD 50,000 in first year
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, yesterday issued an edict regulating the activities of online companies with foreign capital in the Kingdom.
Accordingly, companies that are wholly or partly owned by non-Bahraini partners are allowed to engage in online selling, provided the invested capital is not less than BD50,000 in the first year.
“Article Two: Clause No. (55) of the schedule attached to Resolution No. (17) of 2018 regarding some commercial activities that companies with foreign capital may be licensed to practice shall be cancelled,” the statement said. The rule is effective from the day following the date of its publication in the Official Gazette.
Related Posts