Introduction to Bahrain

The Kingdom of Bahrain — a name that translates as “Two Seas”—is actually an archipelago of 33 low-lying islands located in the heart of the Gulf. Situated along major Arabian and international trade routes between Asia and the West, the Kingdom has, for millennia, served as an important port and center of business. The capital city of Manama is a vibrant cosmopolitan center offering an open economy and an educated workforce enhanced by modern cultural amenities like museums, shopping, restaurants and fine hotels.

Culture

While Islam is the religion of some 80% of Bahrain’s 760,168 inhabitants, there is considerable presence of other faiths and religious freedoms are respected. Arabic is the official language of Bahrain, but English, Farsi, Hindi, and Urdu are spoken widely. Most notably, English is considered the official language for business in Bahrain.

Human Development

Bahrain is consistently one of the top Middle Eastern countries in the United Nations Development Program’s (UNDP) annual index on human development. The UNDP’s report tracks statistics like access to medicine and medical care, life expectancy, infant mortality and availability of safe drinking water. Bahrain ranks proudly among the top countries in those important yardsticks.

Education

Looking at education, Bahrainis are among the best-educated people in the Arab world. This guarantees a workforce that is skilled and ready for the highly technical demands of today’s global economy. Secondary school enrollment now measures 97%, the National Action Charter stipulated the importance Bahrain places on education. The Charter laid out a vision that the Government of Bahrain “guarantees the educational and cultural services for its citizens. Education is compulsory and free.” As a result, the Bahraini literacy rate is among the highest in the Arab world, averaging 85.2 per cent. Literacy among Bahraini males stands at 90 per cent and 80 per cent among women.

Country Overview

Bahrain Free Hold Property Law

Under the Kingdom of Bahrain, Legislative Degree 2 for the Year 2001 and edict no 43 of 2003 (as amended by Edict No 67 of 2006) by His Majesty King Hamad Bin Isa Al Khalifa allowing freehold properties for foreigners, resident expatriates and GCC nationals which has increased boom and opened up the customer profiles of the Bahrain Real Estate Market. Foreigners can now purchase and rent out properties in their own name in designate areas. The freedom to own property certainly adds to Bahrain attractiveness as a business and property investment destination.

Under this law, the owner of a freehold property can enjoys a self sponsorship residence permit for life renewable every 5 years. This Residence Permit allows the property owner to sponsor a residence permit for his spouse and children less than 18 years, providing that she does not engage in any kind of paid employment. The Residence Permit allows both the property owner and his wife the privilege of entering and leaving the country without have to procure a return visa.

Why Buy A Freehold Property In The Kingdom of Bahrain?

The following facts which make Bahrain a great destination haven to invest in Freehold Properties:

• A 27 percent average growth per annum in the property sector

• One of the fast growing economies in the G.C.C after the United Arab Emirates

• Occupancy rate in five star hotels increased by 20 percent from 2007

• Demands in Rental Properties grew by 60 percent from 2006

• No Personal, Corporate or Withholding Tax

• No VAT nor any form of Sales Tax on Good & Services

• Sustained Low Inflation

• Strong Economic Growth with GDP growth above 5 percent.

• Tourist arrival soared in since2007

• Foreigners purchasing Freehold Properties will avail of a renewable residency visa, allowing them to enjoy total freedom without being attached to one sponsor.

• Oil Boom in neighboring Kingdom of Saudi Arabia, has created a substantial increase for expatriates, who drive across the Bahrain-Saudi Causeway rather than those who live in Saudi Arabia, fueling renal demands and purchase of freehold property in the Kingdom of Bahrain.