Bahrain has reportedly approved plans for foreign companies to set up subsidiaries which will be able to do business without local partners.
The country’s Cabinet, chaired by Prime Minister Prince Khalifa bin Salman Al Khalifa, endorsed the new regulation on Monday as part of efforts to boost the national economy, local media reported.
According to reports, the move comes two years after Bahrain approved 100 percent business ownership in certain sectors.
The UAE approved new rules allowing 100 percent foreign ownership of companies in the country in May, something previously limited to those companies based in free zones.
Source Credit: Arabian Business