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Offshore banking in Bahrain

Offshore banking in Bahrain offers customers a tremendous range of investment opportunities. This Kingdom in the Persian Gulf provides the traditional benefits of any off-shore location, with excellent opportunities for business, not to mention favourable taxation. Bahrain is also regarded as the leading financial services hub in the Middle East region.

Elements of Bahrain offshore banking

Geographically speaking, Bahrain enjoys a crucial position in the world. Consisting of an archipelago of 33 islands, it has been a strategic trading post between Eastern and Western civilizations for some four thousand years. In more recent times, Bahrain was the first Gulf nation to discover oil – and begin taking advantage of its untapped riches by completely diversifying its economy. Bahrain has gone on to develop a reputation for international banking, reflected by the increase in the number of Bahrain institutions registered in the UK.

As the Kingdom continues to enjoy strong economic growth, it attracts a lot of foreign investment. It has also assumed a leading role in the setting of international financial industry standards, being a founder member of the Offshore Group of Banking Supervisors.

As was fairly recently named the fastest growing economy in the Arab world by the United Nations, it is no wonder that offshore banking in Bahrain is such an attractive prospect. A typical example would be Barclays, a bank with alongstanding international reputation who have considerable experience operating in the Gulf. Their offshore accounts are perfect for expatriates who are currently living in Bahrain, or for expats that are in the process of relocating to the country.

The key attractions of Bahrain banking

The financial sector where offshore banking in Bahrain operates can be broken into five basic licence types – conventional banks, Islamic banks, insurance, investment and specialised licences. These elements benefit from Bahrain’s strategic location in the heart of the Arabian Gulf. The Kingdom possesses a favourable tax environment – there are no personal income taxes, wealth taxes, capital gains or death duty, or inheritance tax.

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