The following is a guest post
The Middle East has always been known for its oil sector and the resulting businesses which have grown by capitalising on this, whether it’s those trading in the commodities or providing services to the industry. Now, these Middle East economies have found it is now time to diversify into new sectors such as tourism, international trading, finance and media.
When it comes to business on a large scale it is often said that those who get established first will always have the upper hand and this is often the case. Having the opportunity to create business relations before the landscape gets too competitive will give you an important advantage. Currently, countries such as Bahrain are going through this transition phase with opportunities available for many making it the perfect time to bring your service and/or skills to the market.
There are many business opportunities available in Bahrain so it is worth checking out what the industry is like in the sector of your experience. Bahrain has been found to have one of the freest economies in the world and free trade agreements in place with many international partners.
Relocating and setting up a business in another country may sound particularly daunting so it is important you do all the relevant and in depth research so you are aware of any requirements or restrictions you will be facing.
As an international business owner you should look into the various Free Zones which are available across Bahrain specifically created to encourage international investment. These are often sector specific and can give you an array of benefits as well as factory or office space along with other businesses in the Free Zone which of course will give you great networking opportunities and the chance to consider collaborations with other similar businesses, putting you steps ahead of everyone else! Bahrain’s Free Zones have been consistently ranked as some of the best in the world.
In addition to the opportunities available in Bahrain you will find the cost of living is significantly lower, therefore reducing your living costs. With more disposable income available to reinvest into your business, other investments, savings or property, business in Bahrain can easily put you several steps forward in your plan to become financially free.
The growth in the banking and finance sector has led to an increase in the number of services available for those looking for both business and personal banking. The quality of such services such as credit cards for businesses, current accounts and loans are the same as what you would find in the USA and as a result you can be happy knowing your money is secure with the ability to access it whenever you require through the likes of telephone banking.