Gulf state approves new law allowing foreigners to own 100 per cent of businesses in various sectors
Dubai: The decision allowing foreigners to acquire 100 per cent ownership of businesses in Bahrain will spur growth in the property market, analysts said on Thursday.
The government of Bahrain approved on Monday a new law giving foreign investors the opportunity to have full ownership of various business assets in the market. The landmark ruling was approved at a cabinet session led by Prime Minister Prince Al Khalifa, according to media reports.
The new ownership law will apply to different sectors, including residency, real estate, entertainment and leisure, food and administrative services, It follows a similar decree announced in June by the Saudi government, allowing non-locals to fully own retail and...Read more...