Bahrain – an island country situated near Saudi Arabia and Qatar is generally flat and arid archipelago. Petroleum and natural gas, the only significant natural resources for the smallest of the independent Persian Gulf states. The Bahraini economy does not rely on oil and so it has the first post-oil economy in this area. It is known for its fastest growing economy in the Arab world and the World Bank has recognised Bahrain as a high income economy.
Since the late 20th century, Bahrain has heavily invested in the banking and tourism sectors. The country’s capital, Manama, is home to many large financial structures.
The country is sometimes described as ” The Middle East Lite” due to its uncommon combination of modern infrastructure with a Persian Gulf identity.
The issue of taxation in Bahrain is relatively straightforward for contractors. The taxes that are paid are minimal as there is no scaled income tax system in comparison to countries such as the US or the UK. However, in the last few years a minor tax has been imposed on contract workers, so if you are planning contracting in Bahrain, it would be wise to consult with CXC Global on the best way to do so, and how best to balance your taxation.
With our extensive experience and expertise in contractor management, assisting organisations with their contingent workforce, CXC Global has the resources and solutions to manage the administration process associated with contracting in Bahrain, Commercial Business Visa, Work Permit and local payroll.