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Why no one is considering no reportable and still 0% tax Bahrain?

#41
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JonnyStekkino said:
2 bedrooms Apartments for sale in Al Juffair - 2 BHK Flats for sale | Property Finder Bahrain quick search on Juffair (one of the most urban areas), 50k are enough for a modern 1br or a little older 2br/110 sqm, but you can have fun with propertyfinder, I will leave you a little impression of the areas:

Juffair: Full of buildings urban area with quite a lot of cheap restaurants, shops, malls and clubs.
Bahrain Bay: Extreme Luxury area, where is the Four Seasons residences, Roberto Cavalli etc.. Expensive but not that much, under heavy development.
Seef: Good and relatively cheap area, close to the previously metioned areas, near to the City Centre mall.
Reef: Kinda like the palm in Dubai, private developed Island with security at the entrance, full of well maintained gardens, expensive restaurants.
Marassi: another island, far from the center, all beachfront buildinds, including The Address.



I think depends on many things: source of funds, personal preferences etc.. personally I much prefer hot weather and no bureaucracy headaches. In CH right now it's 0 C°, here is 20 C° and I'm going around in shorts and t-shirts
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What about the Internet infrastructure and Internet censorship there?
 
#45
JonnyStekkino said:
2 bedrooms Apartments for sale in Al Juffair - 2 BHK Flats for sale | Property Finder Bahrain quick search on Juffair (one of the most urban areas), 50k are enough for a modern 1br or a little older 2br/110 sqm, but you can have fun with propertyfinder, I will leave you a little impression of the areas:

Juffair: Full of buildings urban area with quite a lot of cheap restaurants, shops, malls and clubs.
Bahrain Bay: Extreme Luxury area, where is the Four Seasons residences, Roberto Cavalli etc.. Expensive but not that much, under heavy development.
Seef: Good and relatively cheap area, close to the previously metioned areas, near to the City Centre mall.
Reef: Kinda like the palm in Dubai, private developed Island with security at the entrance, full of well maintained gardens, expensive restaurants.
Marassi: another island, far from the center, all beachfront buildinds, including The Address.



I think depends on many things: source of funds, personal preferences etc.. personally I much prefer hot weather and no bureaucracy headaches. In CH right now it's 0 C°, here is 20 C° and I'm going around in shorts and t-shirts
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Thank you for the link. Indeed, these apartments look decent.
However, this is priced in BHD. So, to get to USD we need to calculate with factor 2.7.
To avoid misinterpretation: Is the Bahrain residency program based on BHD or USD? Does it require 50k in USD or BHD??
 
#47
369 said:
exchange rate looks somehow artificial
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True, BHD is pegged to SDR's.
Therefore BHD/USD does not change. Not even during the Arab Spring ...

I am still wondering about the residency program. It seems something has changed because here -> Bahrain: New Long-Term Residence Visa Scheme Launched a minimum value of BHD 200'000.- :oops: for the property route is mentioned. Quite a difference to what we discussed before.
 
#49
backpacker said:
This is the official website of the Kingdom of Bahrain -> استكشف الخدمات الإلكترونية - bahrain.bh
Check "Residency" - "Golden Visa" and the result is BHD 200k.
That's a required investment of about USD 540'000.- eek¤%& for a simple 10-year resident visa (it does not even grant permanent residency). Not exactly what I would call a "hidden gem".
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https://www.npra.gov.bh/en/services...services/self-sponsorship-residence-permit-2/
The self sponsorship visa has an income requirement and does not allow you to work. The Golden property visa has no income requirement but allows you to work.
 
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#50
JonnyStekkino said:
https://www.npra.gov.bh/en/services...services/self-sponsorship-residence-permit-2/
The self sponsorship visa has an income requirement and does not allow you to work. The Golden property visa has no income requirement but allows you to work.
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The foreign property owner in Bahrain

  • A clear copy of the applicant passport valid for more than 6 months. (Family Page and any additional information page).
  • A copy of the applicant's ID.
  • A clear copy of the Certificate of good conduct.(for new applicants only)
  • A clear certified copy of the property deed stating that value of the property owned by the expat, the property value should not be less than (50,000 BD).
  • A clear copy of the Health insurance certificate for the applicant.
  • The applicant must have a source of sufficient income to support himself and his dependents, five hundred Bahraini Dinars (500 BD) per month or above.
  • A clear copy of the bank statement for six months.
  • A copy of the applicant's ID or the authorized person submitting the application.
  • A clear copy of the previous Residence Permit if available. .(for new applicants only)
  • A clear copy of the electric bill
 
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#51
JonnyStekkino said:
https://www.npra.gov.bh/en/services...services/self-sponsorship-residence-permit-2/
The self sponsorship visa has an income requirement and does not allow you to work. The Golden property visa has no income requirement but allows you to work.
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When reading what your link says with regards to "foreign property owner", it seems to be a cheaper version of the Golden Visa.
Do they really run both programs in parallel?
Did you apply most recently for a residence permit in Bahrain? Can you confirm that both programs are up and running??

Bahrain would not be the first country with an outdated government website, hence my questions ...
 
#52
backpacker said:
When reading what your link says with regards to "foreign property owner", it seems to be a cheaper version of the Golden Visa.
Do they really run both programs in parallel?
Did you apply most recently for a residence permit in Bahrain? Can you confirm that both programs are up and running??

Bahrain would not be the first country with an outdated government website, hence my questions ...
Click to expand...
They are 2 different programs, the difference is what I said before.. didn't applied yet, but I'm in the process of buying the real estate which even without that program is worth buying in my case.
 
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#54
JonnyStekkino said:
They are 2 different programs, the difference is what I said before.. didn't applied yet, but I'm in the process of buying the real estate which even without that program is worth buying in my case.
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Thanks for the info.
Please keep us posted how it works bureaucracy wise once you apply.

Regarding real estate (in this case the apartment you are about to buy): Are there any fees or taxes which need to be considered, on top of the advertised sale price?
 
#55
backpacker said:
Thanks for the info.
Please keep us posted how it works bureaucracy wise once you apply.

Regarding real estate (in this case the apartment you are about to buy): Are there any fees or taxes which need to be considered, on top of the advertised sale price?
Click to expand...

1,4% of the property for the transfer of the title deed (notary)
Agent fee's (if there is any), in my case around 0,7% of the property.

in my case (security appoval, notary fee's) were included in the agent fee, I guess it's almost always like that if you use a reliable real estate agency.

That's pretty much it.
 
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