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Find out moreWelcome to this edition of Law Update, where we focus on the ever-evolving landscape of financial services regulation across the region. As the financial markets in the region continue to grow and diversify, this issue provides timely insights into the key regulatory developments shaping banking, investment, insolvency, and emerging technologies.
2025 is set to be a game-changer for the MENA region, with legal and regulatory shifts from 2024 continuing to reshape its economic landscape. Saudi Arabia, the UAE, Egypt, Iraq, Qatar, and Bahrain are all implementing groundbreaking reforms in sustainable financing, investment laws, labor regulations, and dispute resolution. As the region positions itself for deeper global integration, businesses must adapt to a rapidly evolving legal environment.
Our Eyes on 2025 publication provides essential insights and practical guidance on the key legal updates shaping the year ahead—equipping you with the knowledge to stay ahead in this dynamic market.
As per the Economic Substance Rules introduced by Resolution No. (106) of 2018 (and the supporting Guidance Notes published by the Ministry of Industry and Commerce (“MOIC”)) commercial entities in Bahrain which undertake a relevant activity are required to an Economic Substance Rules Annual Return Form (“ESR Annual Return”) to the MOIC on an annual basis.
The MOIC has now confirmed that the deadline for submission of the completed 2022 ESR Annual Return is between 13 August 2023 and 13 September 2023. Failure to submit the ESR Annual Return to the MOIC by the timeframe mentioned above may result in the imposition of violations against the Commercial Registration (CR) of a company.
If any of the below activities appear on your entity’s Commercial Registration (CR), then the entity is subject to ESR requirements and must submit the ESR Annual Return:
To avoid a violation(s) being placed on the Commercial Registration (CR), your Bahrain based entity must:
As the leading law firm in the Middle East & North Africa Region and with strong corporate structuring experience across all industry sectors in the region, Al Tamimi & Company is well placed to assess the impact of the Rules on your organisation and assist you in complying with the Resolution, including working with you to determine whether your Commercial Registration (CR) is subject to ESR, complete and submit the required ESR Annual Return.
If you would like to further discuss the contents of this update, and find out what it means for your business, please contact Al Tamimi & Company in Bahrain.
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