MP proposes BD 30 annual fee for Bahraini small businesses

TDT | Manama

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Bahraini business owners could pay as little as BD 30 annually for registration under a proposal by MP Jalal Kadhem aimed at reducing fees for small businesses and Bahraini-owned companies. The proposal, which has already gained the support of Parliament’s Financial and Economic Affairs Committee, is set for a vote next Tuesday.

The amendments to the 2015 Commercial Register Law would set annual registration fees at BD 30 for small businesses and BD 60 for companies, provided they are entirely Bahraini-owned. Additionally, businesses would pay BD 10 annually for each activity conducted, with the first three activities exempt from fees.

For companies with foreign ownership or non-Bahraini stakes, fees would be determined by the minister concerned, subject to Cabinet approval.

Supporters of the proposal argue that it would reduce financial strain on Bahraini entrepreneurs, encouraging them to explore new ventures and contribute to economic growth.

The Ministry of Industry and Commerce, however, urged caution, emphasizing that fee adjustments should align with the services provided and adhere to Bahrain’s constitution and international trade commitments. While the ministry has not taken a stance on the proposal, it highlighted the need for a balanced approach that meets the needs of both businesses and government policies.

The Bahrain Chamber of Commerce and Industry raised concerns about potential complications for businesses already operating under the current fee structure, arguing that existing charges are competitive across the Gulf region.

On the other hand, the Bahrain Businessmen’s Association expressed full support for the proposal, calling it a significant step toward alleviating financial burdens on local entrepreneurs and fostering growth in Bahrain’s commercial sector.