Bahrain Residency by Investment

This is video is a step by step recap of how we got our residence permit in Bahrain. This is a beautiful place which is a small and off the radar country. We believe Bahrain’s reputation is rising and will soon be more well known in the world due to its liberal policies, business friendly environment and standing out as a place with decreasing red tape in a world of increasing red tape. We are going from the point of view of living and settling in Bahrain using the permit, we don’t have any “real estate portfolio”. We sold our home in our home country in exchange for a more simple life in Bahrain including buying a property that is priced more appropriately.

00:00 Start
1:09 Advantages of moving to Bahrain
2:00 Getting a visit visa
4:25 Minimum investment amount
6:06 Real Estate Lawyers in Bahrain
9:39 Bank accounts & paying for property as a foreigner
12:00 Bahrain vs other GCC countries
13:30 Working in Bahrain with self sponsor visa?
14:21 Getting the property title/Red book
16:55 Where can foreigners buy property in Bahrain
19:52 Getting the utility account (EWA) transferred to your name
23:41 Health Insurance requirement
27:16 Getting marriage certificates recognized by Bahrain government
31:49 Notary office for property title
34:10 Summary & Wrap-up

Why come to Bahrain?

- Bahrain has very high levels of safety and stability
- it has a reputation of friendly people (locals will usually be helpful)
- it persevered more of the traditional culture compared to other gulf countries
- it has the lowest cost of living in GCC (food, housing, medical, dentist, fuel, insurance, schools), like anywhere this depends on lifestyle
- it has a favorable business environment compared to world (gov’t very open to new technology, regulations, taxes, red tape)
- Bahrain is not in a real estate bubble and has value
- Bahrain is rated the happiest country in the Middle East region, it has a rising reputation not falling

- 10% retail sales tax
- 0% personal or corporate taxes, 0% property tax
- 2 year residence permit, new policy no sticker, evisa

Residence Permit Fees:
2 years 200 BD
5 years 400 BD
10 years 600 BD
Additional fee case transferring from visit 60 BD
Application fee (non refundable) 4 BD

Other Fees:

Private Notary ~ 100 BHD
Bahrain MOFA stamp of marriage cert 10 BHD
CPR Smart Card 20 BHD
SLRB 2% property transfer fee, reduced to 1.7% if paid within 2 months of purchase
Visit Visa 40 BHD, 25 BHD for 2 week extension
Real estate agent commission ~ 1%

Location of Bahrain Ministry of Foreign Affairs (Document authentication) [ Ссылка ]

3rd party company that will accept wires and convert to Bahraini Dinar at a good rate: Currency Solutions UK. They will accept your wire and then wire BHD to your account in Bahrain or seller.

Areas where non-Bahraini buyer can purchase (restrictions apply in some areas):
Ahmed Al-Fateh, Hoora, Bu Ghazal, Seef, Northern Manama (Diplomatic Area), Durrat Al-Bahrain, Amwaj Islands, Riffa Views and Dannat Hawar

Steps to complete the permit

1. To get here, 40 BHD one year visit visa, max 90 days per visit (fly wizzair to UAE for low cost), 29 BHD total extension fee for only 2 weeks. Beware of 3rd party visa agents
2. Find property and sign sales agreement, 50,000 BHD min property purchase
3. Property manager will do “Security Clearance” with government. Is a background check related to your nationality and background
4. How to pay for property in Bahrain as a foreigner, lawyers will not act a middle party for payment
5. Real estate agents and lawyers are optional, consider using international law firm
6. Obtain property title or red book, at this point your name will not be on the title yet
7. Go to SLRB and pay property transfer fee, gov’t will write your name in red book
8. Make appointment with EWA and use red book and passport to transfer utility account (can be challenging)
9. Use red book and utility account to issue a CPR number, done at information and eGovernment authority in Isa Town
10. Get health insurance, cheapest is New India (watch for expat ripoffs), cost of hospital visits low comparatively
11. If you are married, get marriage certificate stamped by the embassy IN Bahrain or area embassy of country married in
12. If needed get ministry of foreign affairs in Bahrain to stamp marriage certificate, 10 BHD
13. Apply for residence permit (2, 5 or 10 year)
14. Consider your long term plans and if you want to get status another way later on
15. Go back to info and eGov and register marriage certificate and get CPR cards, 20 BHD each
16. Use CPR cards to open bank account
17. CPR is required for bank accounts, phone plans, buying a car, etc
18. Get driving licence, given without test from many countries

Music
"Limit 70" Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 4.0 License
[ Ссылка ]

#bahrain #investing #gcc

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