Introducing Bahrain

Bahrain is located in the heart of the Arabian Gulf, and has both geographical access and strong economic ties with the markets of Europe and Asia as well as its neighbours in the GCC and the wider Middle East. But it’s not geography alone that makes Bahrain such an attractive destination for investors.

Far sighted economic policies, favourable tax environment with no corporate or personal taxes, are just some of the reasons that make Bahrain an ideal place for serious investors. Modern, high standard of living with a cosmopolitan family atmosphere, religious freedom, international schools that follow a wide curriculum, as well as clubs that cater to different nationalities and interests are other factors that make Bahrain an ideal place to live with one’s family.

Bahrain is defined by its relationship with water. Take the country's name: Two Seas in Arabic, the focus is not the island?s minimal landmass, but the water that laps its shores. So shallow is the water lapping Bahrain's coastline that the inhabitants regularly reclaim pieces of land, filling in the gaps between sand bars, as if winning back lost territory. The new Bahrain Financial Harbour of Manama is currently rising like Neptune from such reclaimed land, and its proud buildings, such as the Dual Towers, appear to be holding back the sea. Of course land reclamation in the Gulf has become the fashion. Dubai and Abu Dhabi, Doha and Muscat all have ambitious projects involving a tamed sea in a human landscape. Only Bahrain, however, can claim a truly integral connection between the two: the sweet-water springs that bubble off-shore helped bring about 4000 years of settlement, the layers of which are exposed in rich archaeological sites around the island. The springs also encouraged the most lustrous of pearls the trade in which helped build the island's early fortunes.

Like an oyster, Bahrain's rough exterior takes some prising open, but it is worth the effort. From the excellent National Museum in Manama and the traditional houses of Muharraq to the extraordinary burial mounds at Sar, there are many fine sites to visit. For more modern pearls, there's the spectacular Bahrain World Trade Centre, King Fahd Causeway and the new islands project at the southern tip. Presumably the engineers have factored in the projected effects of global warming or the sea may yet have the last laugh.

Fast Facts about Bahrain

Official name : Kingdom of Bahrain

Capital : Manama

Area : 706 sq km

Population : 723,000

Country code : 973

Head of state : King Hamad bin Isa al-Khalifa

Annual number of tourists : 3.5 million

Stereotypes : The 'pleasure dome' of the Gulf for regional visitors

Surprises Five percent of Bahrain's landmass is covered by burial tombs

Economy

Recognising the pitfalls of relying on income from oil revenues alone, the government took early steps to diversify the economy and Bahrain is now an important offshore banking centre, a growing industrial and commercial hub, and a major destination for international investment. Heavy industry is evident along the eastern seaboard of the island, and the interior is crisscrossed by gas and oil pipelines. International tourism was adversely affected by the onset of hostilities in Iraq although regional tourism, from Saudi Arabia in particular, continued unabated. The inauguration of the Grand Prix in April 2004 has helped to win back international visitors and has attracted considerable overseas investment to the island. Large-scale projects, like the new Bahrain Financial Harbour in Manama and the resort complex on the southern tip of the island, are visible expressions of the island?s continuing prosperity.

Money

The dinar is pegged to the US dollar and rarely fluctuates.
Country Unit Bahraini dinar
AustraliaA$1=BD0.31
CanadaC$1=BD0.33
Euro?1=BD0.51
Japan 100=BD0.32
KuwaitKD1=BD1.30
New ZealandNZ$1=BD0.28
OmanOR1=BD0.98
QatarQR1=BD0.10
Saudi ArabiaSR1=BD0.10
UAEDh1=BD0.10
UKUK 1=BD0.75
USAUS$1=BD0.38
YemenYR1=BD0.002
Exchanging money

Money (both cash and travellers cheques) can be changed at any bank or money-changing office. There?s little to choose between banks and moneychangers in terms of exchange rates (as little as BD0.010 per US dollar usually), and it?s rare for either to charge a commission ? although it?s always wise to check first.

Currencies for other Gulf States are easy to buy and sell.

Visas

People of most nationalities need a visa, which can be conveniently obtained at Bahrain International Airport or at the border with Saudi Arabia. A two-week visa on arrival costs BD5 for citizens of Australia, Canada, the EU, New Zealand, USA and 29 other nations. There is a foreign-exchange office next to the immigration counter at the airport and at the border with Saudi Arabia. Multiple-entry business visas are available for citizens of the above nationalities and are valid for 6 months. They cost BD42. This visa does not entitle you to work.

If you?re transiting through Bahrain and travelling on to Saudi Arabia by land (and can prove it), the visa fee on arrival for all nationalities is BD2.

Visa extensions

Visa extensions of up to a month are available in Manama from the General Directorate of Immigration & Passports (17 535 111; Sheikh Hamad Causeway). You must first find a sponsor (a Bahraini friend or your hotel may oblige for a small fee). Extensions cost BD15 for one week and BD25 for more than one week up to one month; they will take up to a week to process. Foreigners overstaying their visas are rigorously fined.