Abu Dhabi (6th) and Dubai (8th) are also ranked in the top 10.
The fDi intelligence magazine of Financial Times, in their ‘2021 Global Cities of the Future’ index, has awarded Bahrain’s capital city Manama with the fifth position globally among cities of all sizes and first position among small and mid-sized cities for FDI strategy.
The study was based on diverse data points such as economic potential, human capital and lifestyle, cost effectiveness, connectivity and business friendliness. Manama was trailed by NewYork, Greater Montreal, Berlin and HongKong in the overall rank list of FDI strategy.
Along with Manama, Abu Dhabi and Dubai has also made it to the top 10, which clearly indicates the FDI growth in the GCC region. Arabian Business reported, quoting Mr. Kahlid Humaidan, Chief Executive Bahrain Economic Development Board that, in 2019 FDI stock added up to 80% of Bahrain’s nominal GDP which is double the global average
Even during the pandemic times, when various sectors and countries faced decline in FDI, the recognition by fDi intelligent magazine of Bahrain is further confirming that the strategy is set right by the country with respect to foreign investment.
The Kingdom focuses on sector agnostic approach, which is showing results and also have gained recognition in the region. The leading performance of Bahrain in the survey underlines the same.
Bahrain has been recognized by other independent surveys and studies too. A study by KPMG in a Cost of Doing Business Report exclaimed that Bahrain is 20-30 percent more cost-effective than some of its neighbors across different industries, and the 2020 World Bank Doing Business Report entitled Bahrain the fourth most improved country in the world.
In addition to Bahrain’s ranking in FDI strategy, Bahrain was also ranked highly in cost-effectiveness and business friendliness, being sixth globally and third in MENA, and seventh globally and second in MENA respectively for small and mid-sized cities.
The Golden Visa scheme is officially known as Self Sponsored Visa or Residence Permit, which is aimed at attracting foreign High Net worth Individuals (HNI) to invest significantly in the economy.
A golden visa can be acquired either through a business capital investment of BHD 100,000 or by investing BHD 50,000 in any real estate in any of the specified zones.
Why Invest in Bahrain?
Investing in Bahrain is the most logical decision a business or an entrepreneur can take during this pandemic times. The GCC market has seen an unparalleled boom, with Saudi Arabia leading the show and Bahrain is the best door to access the whole GCC market.
- Fastest growing financial hub in the region with access to $1.5 trillion GCC market
- No tax on Income or Capital gains.
- Freedom to repatriate capital and profits.
- Region’s leading trans-shipment and logistics center.
- Bahrain offers one of the highest quality of life in the Middle East.
- Freedom to import and export local and foreign currencies.
- Bahrain ranks 1st globally for work/life balance and 1st in MENA for personal happiness, regarded highly for its job opportunities, career satisfaction rates, and its friendly culture noted for being the world’s second easiest place to settle in.
- Bahrain offers are low establishment and operational costs for businesses, few indirect taxes for private enterprises and individuals, one hundred percent foreign ownership of business assets.
- Bahrain is ranked fourth in terms of cost of living in the Middle East. Bahrain has the highest level of economic freedom in the Middle East and North Africa (MENA) region.