This week the spotlight is on legal and regulatory developments in Bahrain, where an Investment Limited Partnership Law passed by Bahrain’s Parliament in August 2016 and published in Bahrain Official Gazette, issue 3273 has now come into force. It marks a first for Bahrain and for the wider Gulf Cooperation Council region as Bahrain Edict No. 18/2016 enables investors to establish limited partnerships ‘on-shore’ as well as ‘off-shore’ in free zones. It also allows new LLPs to be incorporated and existing partnerships to convert to LLPs.
Elsewhere, the Kingdom’s Government is set to issue special ID cards to all investors from other Gulf Cooperation Council (GCC) countries. The aim is to help investors conduct hassle-free transactions at various service departments in the Kingdom. The move follows directives from the country’s Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, HRH Prince Salman bin Hamad Al Khalifa to provide GCC residents and investors with more facilities.