Bahrain: Maritime Law Ratified

Al Watan, 7 April 2022: Bahrain’s King has ratified Bahrain Law No. 10/2022 issuing the Maritime Law.

It had already been approved by the Shoura and Representative Councils.

Under Article 1, the Maritime Law will be enforced, in a way which does not conflict with the provisions of relevant international conventions and treaties and protocols in force in the Kingdom.

Under Article 2, the Law of Ship Registration and Determining Safety Conditions promulgated by Bahrain Decree-Law No. 14/1978 and the Maritime Law promulgated by Bahrain Decree-Law No. 23/1982 (as amended) as well as any provision which contradicts the provisions of the Law will be repealed.

Under Article 3,  the Minister responsible for Ports and Maritime Affairs will issue the Implementing Regulations and decisions necessary to implement the Law.

They will do within six months of the Law being published in the Official Gazette.

For full story see https://alwatannews.net/Bahrain/article/1000003/%D8%A7%D9%84%D9%85%D9%84%D9%83-%D9%8A%D8%B5%D8%A7%D8%AF%D9%82-%D9%88%D9%8A%D8%B5%D8%AF%D8%B1-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%B1%D9%82%D9%85-(10)-%D9%84%D8%B3%D9%86%D8%A9-2022-%D8%A8%D8%A5%D8%B5%D8%AF%D8%A7%D8%B1-%D8%A7%D9%84%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%A8%D8%AD%D8%B1%D9%8A.

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Bahrain: Central Bank Issues Updated Investment Fund Operation Directives

Bahrain’s Central Bank has issued updated investment fund operation directives.

They have done so following a comprehensive review of the rules governing the work of these entities as part of its plan to carry out a comprehensive review of the entire legislative system related to the financial sector.

The amendments focus on dividing investment funds into two categories.

The first category of funds relates to small investors and contain details of the nature of investment in the funds and require approval from the Bank first.

The second category of funds relates to investors with high financial solvency and experience. Those in this category only have to notify the Bank of the fund marketer.

The updated rules take the rapid and continuous changes in the investment fund sector into account.

They are aimed at reducing administrative procedures and facilitating approvals for the establishment and marketing of investment funds in order to create an environment to enable the sector to grow with appropriate regulations in place.

This will improve the competitiveness of investment fund operators and investment managers. For full story, click here.

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Bahrain: Cyber Crime Law Amendments Being Considered

Al Watan, 10 March 2022: The Foreign Affairs, Defence and National Security Committee of Bahrain’s Parliament has discussed proposed amendments to the Kingdom’s Cyber Crimes Law.

The proposed amendment would add a new Article to Bahrain Law No. 60/2014 criminalising insult, slander, and violating the reputations of others by misusing information technology,

The Committee examined the feedback of the Legal and Legislative Affairs Committee, the Interior Ministry and the Justice, Islamic Affairs and Waqf Ministry.

Following their examination of the feedback, the Committee decided to approve the draft law.

They also approved reducing the minimum fine for the related violations to 5,000 Dinars instead of 50,000 Dinars. For full story, click here.

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Bahrain: Civil Aviation Regulation Law Amendments Approved

Al Watan, 21 February 2022: Bahrain’s King has approved and issued Bahrain Law No. 4/2022 amending the Civil Aviation Regulation Law promulgated by Bahrain Law No. 14/2013.

Under Article 1 of Bahrain Law No. 4/2022, the definitions of civil aviation affairs, national aircraft and unit or investigation unit contained in Bahrain Law No. 14/2013 will be replaced wherever they appear with

‘Civil Aviation Affairs: The body entrusted with the authorities, competencies and powers related to civil aviation and represented by the Undersecretary for Civil Aviation Affairs.

National Aircraft: An aircraft registered in the National Aircraft Registry.

Unit or Investigation Unit: The unit for investigating accidents and dangerous incidents of aircraft established under Article 90 of this law’. For full story, click here.

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Bahrain: First Golden Visa Issued

The National, 14 February 2022: The chairman of the Lulu Retail Group has become the first recipient of Bahrain’s new golden visa for foreign nationals.

The UAE-based Yusuff Ali was handed the visa in a ceremony attended by Bahrain’s King Hamad and Crown Prince and Prime Minister Salman bin Hamad. Lulu, based in Abu Dhabi, is a major employer in the Gulf with more than 50,000 staff.

Under previous rules, Bahrain residents could only get a renewable visa tied to their employment status.

A golden visa allows them to extend the visa for an indefinite period and provide a residence permit for close family members.

To qualify, a person must have lived in Bahrain for at least five years and earn an average salary of at least 2,000 Bahraini dinars ($5,306) a month.

Retirees, talented people who fit certain criteria and those who own real estate above a certain value can also apply. There are 11 Lulu stores across Bahrain,

The Golden Residence Permit decision Bahrain Decision No. 20/2022 has been issued on granting entry visas and golden residence permits to foreigners.

Under Article 8 of Bahrain Decision No. 20/2022 the permit can be cancelled if the holder can not prove that they stayed in the country for 90 days within a year, if the continuation of their stay in the country could cause harm to security, public order, or national interests, or if it is proven that they have obtained the residence permit based on false information or incorrect documents, and if they have violated any of the provisions related to the Foreigners Law 1965.

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Bahrain: Golden Permanent Residency Visa Introduced

Arab News, 7 February 2022: According to local media reports, the Bahraini authorities have agreed to introduce a Golden Residency Visa.

It will enable holders of it to work in Bahrain and family members will be able to gain residence.

To apply for the visa, an individual must have lived in Bahrain for at least five years and earned at least 2,000 Dinars a month on average.

Alternatively, they should own property worth more a certain amount or be retired or highly talented and meet specific criteria.

It will be able to be renewed indefinitely.

It is aimed at attracting investors, entrepreneurs and highly talented individuals who can contribute to the country’s success.

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Bahrain: VAT Amendments Implemented

Alwatan, 1 January 2022: The amendment increasing the basic rate of VAT including an increment of up to 10% for goods and services subject to the law will come into force from 1 January 2022.

The National Organization for Revenue has confirmed that 94 goods and 1820 government services are exempted from VAT. However, the other supplies which are subject to the VAT and which have been offered before 1 January 2022 will be subject to 5% VAT.

Any service subject to the basic rate after 1 January 2022 will be subject to a 10% VAT rate.

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Bahrain: Proposal to Double VAT Approved

Gulf Daily News, 8 December 2021: Bahraini MPs have approved a proposal to double VAT in the Kingdom.

It will be increased from 5% to 10%.

It will amend Bahrain Decree-Law No. 48/2018.

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Bahrain: New Plants Varieties Protection Law Approved

Al Watan, 5 December 2021: Bahrain’s King has approved Bahrain Law No. 31/2021 on the protection of new varieties of plants.

It sets out the relevant definitions and its scope of implementation.

It also covers all the types, kinds and groups of plants which have been subject to a patent.

In addition, it sets out the conditions for a variety of plants to be considered worthy of protection. These include that the plant is new, unique, homogeneous, consistent and is given an acceptable name in line with Article 28 of Bahrain Law No. 31/2021 and Article 29 of Bahrain Law No. 31/2021.

For full story, click here.

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Bahrain: Implementation Date for Execution Law in Civil and Commercial Matters Announced

The Vice President of Bahrain’s Supreme Judicial Council and President of the Court of Cassation has announced the Execution Law in Civil and Commercial Matters is going to be implemented on 17 March 2022.

The Council are preparing the procedural requirements to implement Bahrain Decree-Law No. 22/2021.

They are doing so together with the Justice, Islamic Affairs and Endowments Ministry.

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