Bahrain’s Golden Visa: A How-To Guide
Bahrain’s Golden Visa is a program that allows foreign investors to obtain residency in Bahrain in exchange for significant investments in the country. This program is part of the government’s efforts to attract foreign capital and talent to the country, stimulate economic growth and diversification, and enhance the competitiveness of Bahrain’s economy.
Under the Golden Visa program, foreign investors can obtain a residency permit in Bahrain for themselves, their spouse, and children under the age of 21. The permit is valid for up to ten years and can be renewed. The program offers several categories of visas, including investors, entrepreneurs, and talented individuals in various fields.
Who is Eligible for Bahrain’s Golden Visa?
To be eligible for Bahrain’s Golden Visa, you must meet the following requirements:
- Invest a minimum of BHD 100,000 (approximately USD 265,000) in a new or existing Bahraini company, or a real estate property in Bahrain.
- Have a minimum of five years of experience in the business or industry you plan to invest in.
- Provide audited financial statements for the past three years.
- Start a new business in Bahrain with a capital of at least BHD 50,000 (approximately USD 132,500).
- Have a business plan that shows the potential to create jobs and contribute to the Bahraini economy.
- Demonstrate previous experience in the industry you plan to establish your business in.
Talented Individuals Visa
- Demonstrate exceptional talent in science, arts, culture, sports, or entrepreneurship.
- Have at least three years of experience in your field of talent.
- Provide evidence of your achievements, such as awards or publications.
How To Apply for Bahrain’s Golden Visa?
To apply for Bahrain’s Golden Visa, you must follow these steps:
Step 1: Prepare Your Documents
Ensure that you have the necessary documents, including a valid passport, a business plan (for entrepreneurs), audited financial statements (for investors), and evidence of your achievements (for talented individuals).
Step 2: Submit Your Application
Submit your application through Bahrain’s e-visa portal or through the Economic Development Board’s website. You will need to pay the application fees, which vary according to the type of visa you are applying for.
Step 3: Wait for Approval
Wait for your application to be reviewed. The processing time varies, but it usually takes between four to six weeks.
Step 4: Obtain Your Visa
If your application is approved, you will receive your Golden Visa. You can then enter and exit Bahrain as many times as you want during the validity of your visa.
1. Can I bring my family with me on my Golden Visa?
Yes, you can bring your spouse and children under the age of 21 with you on your Golden Visa.
2. Can I work in Bahrain on my Golden Visa?
Yes, you can work in Bahrain on your Golden Visa. However, if you are an investor, you must work for the company that you have invested in.
3. Can I extend my Golden Visa?
Yes, you can extend your Golden Visa for an additional ten years, provided that you continue to meet the eligibility criteria.
4. Can I apply for citizenship in Bahrain through the Golden Visa program?
No, the Golden Visa program does not lead to citizenship in Bahrain. However, if you have lived in Bahrain for a certain period of time and meet certain criteria, you may be eligible to apply for citizenship through other channels.
5. Do I have to pay taxes in Bahrain on my Golden Visa?
No, foreign investors are not subject to income taxes in Bahrain, except for income earned from business activities conducted in Bahrain. However, you may be subject to taxes in your home country. It is recommended to consult with a tax advisor to determine your tax obligations.
In conclusion, Bahrain’s Golden Visa program offers an excellent opportunity for foreign investors, entrepreneurs, and talented individuals to obtain residency in Bahrain and benefit from the country’s growing economy. By following the above steps and meeting the eligibility criteria, you can apply and obtain a Golden Visa to start your journey in Bahrain.