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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Bahrain: Amendments to Electronic Communications and Transactions Law Approved

Al Watan, 17 November 2021: Bahrain’s King has approved amendments to the Kingdom’s Electronic Communications and Transactions Law.

Bahrain Law No. 29/2021 has been issued to this effect.

It amends Article 23(d) of Bahrain Decree-Law No. 54/2018.

It will state ‘d. For an unaccredited trust service provider, the person who has suffered damage has the burden of proving that the damage has been caused by the will or negligence of the service provider’.

The Prime Minister and the relevant ministers will be responsible for implementing it. It will be published in the Official Gazette and come into force the day after it is published.

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Bahrain: Decision on Reporting Information and Measures Against Frozen Funds Issued

Al Watan, 16 October 2021: Bahrain’s Interior Minister and Chairman of the Committee to Combat Extremism, Combating Terrorism, Its Financing and Money Laundering, has issued Bahrain Decision No. 120/2021 on the mechanisms for reporting information, the measures taken and receiving requests to authorise the use of frozen funds for individuals listed on the sanctions list and national terrorism lists and the terms and procedures for managing those funds.

Under the Decision, the committee will receive details of individuals or entities listed on the sanctions list.

They will also be advised when the national terrorism lists a request to authorise the use of frozen funds to meet basic or exceptional expenses.

The Decision bans the manager responsible for managing these funds from exploiting or using the funds entrusted to them or secure any contract or disposition relating to these funds for themselves an advantage, through an intermediary in their interest or in the interest of their wife, children, relatives or in-laws up to the fourth degree. For full story, click here.

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Bahrain: Execution Law in Civil and Commercial Matters Law Issued

Bahrain’s King has issued Bahrain Decree-Law No. 22/2021 approving the issuing of the Execution Law in Civil and Commercial Matters.

The Prime Minister and relevant Ministers will be responsible for implementing it.

It will be published in the Official Gazette and come into force six months after it is published.

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Bahrain: Royal Decree on Penalties and Alternative Measures Issued

Al Watan, 9 September 2021: Bahrain’s King has issued Bahrain Decree-Law No. 24/2021 amending Article 13 of Bahrain Law No. 18/2017.

Under the amendments, the Interior Ministry can request the execution judge to replace the original penalty with another one providing the defendant does not pose a threat to public security.

The defendant should show good conduct and behaviour and should honour the financial obligations of a ruling against them.

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