What you need to know about Bahrain Golden Licences

by BTM

Sat, 17 June 2023

What you need to know about Bahrain Golden Licences

In an effort to reduce its debt, Bahrain's cabinet decided earlier this week to begin awarding "strategic investors" a golden license and offering incentives to businesses bringing significant investments.

On June 16, Bahrain awarded its first golden licences to five projects with a cumulative investment of more than $1.4 billion as the Arabian Gulf’s smallest oil producer aims to attract more investment into its economy to boost growth.

According to the Bahrain Economic Development Board (Bahrain EDB), licenses were given to projects offered by Citi, Eagle Hills Diyar, Infracorp, Saudi Telecom, and the Whampoa Group.

Here are five must-know facts you need to know about the licences:

  1. Bahrain launched the golden licence initiative in April this year.
  2. Companies with strategic projects that will create more than 500 jobs in Bahrain, or those with an investment value exceeding $50 million, are eligible for the licence.
  3. Some of its benefits include prioritised allocation of land for investments, infrastructure services and utilities.
  4. The new scheme various incentives and streamline services to foreign and local businesses with large-scale investment projects in the Gulf nation.
  5. Other advantages include integrated cooperation with various government departments, a designated account manager from Bahrain’s EDB, as well as a potential review of existing laws or regulations where necessary and applicable.