Bahrain to allow Gulf firms to open branches

Bahrain’s Cabinet yesterday (March 18) asked authorities concerned to draw up a draft law which allows companies owned by Gulf nationals to open branches in Bahrain. This is in line with a landmark decision taken at the 2010 GCC summit in Abu Dhabi to allow Gulf-owned companies to open branches in member countries and to be treated on an equal footing with national firms. To be eligible, companies have to be registered in one of the GCC states for at least three years and owned fully by Gulf nationals. They should also be exercising an activity licensed in Bahrain.