Encouraging international trade and business creation is deeply rooted in the modern history of Bahrain Kingdom. Since it has limited oil reserves compared to other GCC countries, Bahrain has started earlier in establishing formidable foundations for the modern economy.
Thanks to the effective financial framework, Bahrain is now known for being a safe ground for many multinational investment companies and a banking hub for GCC neighbours.
Lately, Bahrain government took another step towards enhancing business environment and attracting more investments by approving foreigners’ 100% ownership of projects in various economic sectors including property, retail, etc.
The first and only in GCC
Bahrain is the first GCC country to activate foreigners’ 100 percent ownership of business projects on its ground.
Foreign investors now can hold their own projects in many various economic sectors including food, logistics, real estate, arts, entertainment and leisure, water supplying, mining, technical activities, and many other sectors.
After approving the new law, Bahrain’s cabinet said in an official statement that the new decision will absolutely encourage leading international firms to establish a presence in Bahrain, which is considered the gate to GCC and the whole region.
Real boost to property market
Economic experts and analysts expressed their ecstasy with the decree expecting Bahrain Property Market to flourish in the near future.
The decision is likely to attract many entrepreneurs to establish businesses of all sorts in Bahrain, which will positively impact the Property Market.
Aside the full ownership law, foreign investors will enjoy numerous other unique advantages in Bahrain market such as the competitive residential/commercial properties prices and rents, low tax rates, and perfect location in the centre of GCC region.
The entry of new investments will spur projects establishment rate, increase demand on all property market tiers, and subsequently, add throttle to Bahrain real estate dealing rate.
Over the long haul, this decision is expected to bolster the establishment of new residential compounds to occupy the rising residential demand, new hotel projects, housing areas, and free zones.
If Bahrain turned into a real business hub attracting billions of investments annually, Bahrain real estate sector is going to be the most benefactor since it’s already thriving and it has a positive potential for further growth.
Other countries on track
The sharp decline in oil prices left GCC countries wondering about alternative options for bolstering domestic economies apart from hydrocarbon production.
Many countries went toward encouraging foreign investments in retail, real estate, industry, and construction.
Saudi Arabia, for instance, issued a decree approving foreign investors’ full ownership of retail and wholesale projects.
Dubai also is following on the same track. Reports are swirling about the government’s direction towards facilitating full ownership of business for foreigners.
GCC states diversion towards empowering foreign investors became evident. Bahrain for sure won’t be the only country to enable 100% ownership for non-national investors, many other countries are predicted to follow in the near future.
Opening the door for foreign investments is now regarded as the best way to deal with the plummeting governmental expenditure and slouching growth rates as a result of the low oil price.
The post Foreigners’ full ownership boosts Bahrain property market appeared first on Weetas Real Estate Blog, Market Stats, Real Estate Analysis.
This post first appeared on Weetas Real Estate Blog, Market Stats, Real Estate, please read the originial post: here