MANAMA: The decision on revised commercial registration (CR) fee in Bahrain has been put on hold till March next year, according to an official statement.
Earlier, the Ministry of Industry, Commerce and Tourism (MoICT) had announced revised CR fee structure effective September 22nd, 2017.
In accordance with the directives of His Royal Highness Prince Khalifa bin Salman Al Khalifa, Prime Minister, to hold meetings with the Bahrain Chamber of Commerce and Industry to reach an understanding on the fees for practicing the activities and directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Deputy Supreme Commander, the MoICT and the BCCI held meetings on the subject.
During these meetings, the Bahrain Chamber of Commerce and Industry’s proposal to postpone the implementation of Ministerial Resolution No. 130 of 2016 on commercial activities fees for an additional period of six months till March 31, 2018 has been approved to enable the Chamber to study the situation of small traders to enable them to reduce the annual renewal costs by increasing their awareness and the importance of integrating business activities and the benefits of this.
The Ministry of Industry, Commerce and Tourism and the Bahrain Chamber of Commerce and Industry expressed their appreciation for the good directives of His Royal Highness Prince Khalifa bin Salman Al Khalifa, Prime Minister and His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Deputy Supreme Commander, the Council of Ministers and their keenness to support the commercial sector and small and medium-sized enterprises in order to push forward sustainable economic development and maintain this sector.
Accordingly, the MoICT and the BCCI called upon all owners of enterprises and companies to review their commercial activities and remove inactive activities to reduce commitments related to the Commercial Register. The MoICT said that it was fully prepared to provide the necessary advice to amend activities for all commercial register owners.