#companyformation
Why do you need proper guidance while setting up a company in Bahrain
Khalid Khan
February 16
A lot of time I have to meet clients who instead of paying importance to the quality of work have opted for cheap work only to suffer at a later stage.
Some of the examples how people suffer are as follows:

  1. Someone offered them to set up a company at a lesser price which they accepted only to cough up more and more money at a later stage;
  2. Someone told investor he can be 100% owner for some activity which is not allowed as per law and after paying fees and everything has to add another partner or change the activity altogether;
  3. Submitting the application on their own to have the application rejected later on;
  4. Not following what the Ministries are telling and annoying them by resubmitting without making changes finally leading to rejection;
  5. Improper Arabic translation of the names and company names;
  6. No knowledge regarding the requirements of the business activity;
  7. Not knowing what kind of structure is the right structure for the company;
  8. No information regarding the requirements of the bank etc.
I can list many more reasons where people have got stuck while setting up a company and a big reason is they opted to choose cheaper services than a professional one.

I know people who formed a company and then have to delete the CR and change the structure because they could not provide a bank statement to the bank as required.

I know people who changed partners because the partner could not provide bank statements and they were stuck and were forced to replace a partner with a bank statement.

I know people who were submitting the same thing again and again to the ministry whereas the ministry was replying in Arabic please do not submit the same documents again and again or we will reject the application, finally leading to the rejection.
I know people started setting up a company for someone who is not an engineer and the activity compulsory requires the person to be an engineer.

The reason why all these things happened is that of the lack of foresightedness or I can say cheapness. It is very clear to everyone that things which have quality don't come cheap.

Therefore, in short always remember that while setting up a company, always take proper guidance and professional help rather than opting for services from someone who cannot answer even all your questions. The company you are setting up is the key to your success and if the very foundation is laid wrong then you might have to face big problems in future.
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