Commercial Law of:

• UAE
• Qatar
• Bahrain
• Oman
• Saudi Arabia
• Kuwait

The Bahrain Free Zone will get operational during the third quarter of 2008, after which, it is expected to give a major boost to the flow of investment into the Bahrain Kingdom.
Discussions are on to finalize the nature of operations in the free zone, which is situated close to the Shaikh Khalifa Bin Salman port, likely to be completed in another six weeks time
Banks and Insurance Companies

In the Middle East, Bahrain has earned the rank of being the most economically progressive
country and it is known worldwide as the 4th most free economy (ranked by The Heritage Foundation). This economic growth has come about due to the simple administrative and legal systems that have aided the industrialization of Bahrain.

The government is continuing to make strenuous efforts to attract foreign investors and pursue limited privatization. With its highly developed communication and transport facilities Bahrain is home to numerous multinational firms with business in the Gulf. Other major segments of Bahrain's economy include financial and construction sectors. Bahrain is actively pursuing the diversification and privatization of its economy to reduce the country's dependence on oil. As part of this effort, Bahrain and the US implemented a Free Trade Agreement (FTA) in August 2006 (the first FTA between the US and a Gulf state). The government’s economic strategy will focus on consolidating Bahrain’s position as the free services hub of the Gulf region. Bahrain’s future prosperity rests heavily on its capacity to develop the tertiary sector, for example: finance and tourism. Bahrain’s excellent regulatory structure is encouraging foreign financial and commercial firms to base their operations in the country. The strong reputation of the Bahrain Monetary Agency as a regulator of the industry has played a primary role in the evolution of Bahrain as the Gulf’s most important financial center. Major long-term economic challenges include: the depletion of both oil and underground water resources; job creation for Bahraini nationals; and liberalizing the business environment to help attract domestic, regional and foreign investments.

Bahrain is a member of the World Trade Organization (WTO). Bahrain is a full active member of the United Nations (UN), the Organization of Arab Petroleum Exporting Countries (OAPEC), the Organization of the Islamic Conferences, Arab League, the WorldBank, International Monetary Fund (IMF), International Bank for Reconstruction and Development, Islamic Development Bank and the Geneva Convention. Bahrain’s economic activity is clearly dominated by oil (processing), and the Kingdom is developing downstream aluminum industries also. A continuing upturn in oil prices during the past four years resulted in a strong growth of the economy. Nominal GDP grew strongly by 14.7% in 2006 to $15.35 billion compared to $ 13.38 billion in 2005. Nominal GDP is expected to increase further by 10% to US$ 16.89 billion in 2007 and is forecast to grow by 9.9% to $18.56 billion in 2008. A rise in property development and construction has resulted in a strong economic growth. Consumer confidence may boost spending from both the government and the private sector. The real GDP grew strongly by 7.6% in 2006 compared to 7.8% in 2005 and is expected at 6.8% in 2007 and 6.5% in 2008, with electricity, water, industry and tourism as the key areas of expansion.
The business and professional services sector has expanded dramatically as a result of the boom in the Gulf. Demand is coming from rapid and sustained growth in a wide range of industries across the region, including real estate, telecoms, tourism, manufacturing and retail. All are demanding the highest level of business and professional services, which creates opportunities in many business areas. Legal services, accountancy, management consultancy, marketing services and human resources all have significant potential. Security-related services are also enjoying strong growth. Bahrain’s location adjacent to and connected by road to the oil and gas fields of Saudi Arabia make it the ideal base to service the largest market in the Gulf.

Creative industries
Creative industries also enjoy important advantages in Bahrain. Intellectual property and copyright laws have been thoroughly brought up to date, and now ensure the highest standard of protection available anywhere in the Middle East.
Bahrain is attractive not just because of access to the wider Gulf market, but because local and expatriate employees are less expensive than elsewhere in the region.

Firms already present in Bahrain
Bahrain is already home to many international companies, such as Baker McKenzie, Ernst & Young, KPMG, PricewaterhouseCoopers and Travers Hamlin. In the last two years they’ve been joined by other well-known international names such as A.T. Kearney, Freshfields, McKinsey and Projacs project management.