Time and again some new revelations are introduced in the Kingdom of Bahrain to make the company registration services smoother. Corporate Governance Code was one such addition brought forward. BostonBrooks announced plans to talk about corporate compliance and the new additions to give people an idea on the topic.

This is great news for all the people who are wishing to initiate a startup in Bahrain or those who already have businesses in Bahrain.

What does corporate governance and compliance service comprise of?

Bahrain commercial companies’ law is evolving due to several new regulations such as Ultimate Beneficial Owner (UBO), Economic Substance Regulation (ESR), and other regulations. MOICT has a keen eye on corporate compliance. BostonBrooks helps its Clients comply with these regulatory requirements.

This service involves maintaining corporate minutes books, corporate governance filing, Economic Substance Returns, and Ultimate Beneficiary Filing.

What is meant by Corporate Governance?

Corporate Governance is the rules or laws that provide an operation by which businesses are operated, regulated, or controlled. The term includes both the internal and external aspects that move a company's stakeholders' interests, including shareholders, customers, suppliers, government superintendents, and supervision.

The new addition - Bahrain Corporate Governance Code 2018

In the year 2018, a detailed set of principles was released under Corporate Governance Code to push the companies in a disciplined framework. This code is applied to all the joint-stock companies in Bahrain. Only those companies are exempted from this code licensed by the Central Bank of Bahrain (CBB), as they are following the governance principles of corporation released by the bank itself.

This code helps to improve the company standards, and their purpose is to meet the stakeholders' demands and needs. The board of directors should discuss the eleven principles, which are the core of this code to review their company's compatibility in light of this Code of Corporate Governance.

The founder of Boston Brooks, quoted, “The Bahrain Corporate Governance Code 2018 has followed international practices to improve the corporate sector and make it more systematic. Furthermore, experts from the compliances for private limited company can ensure that your business runs at its full capacity. We at BostonBrooks are experienced and specialized in offering services related to setting up a business, running the present one or dissolving just to explore the new sectors. No matter what new laws and principles get introduced, the agency can give solutions to all pain points while adhering to the regulations.”

If you have any compliance, want amendment in-licenses, have a problem with annual ESR filing, acquisition or merger of business, debt recovery or winding up – BostonBrooks has all solutions from inception of business till end. Visit us at http://bostonbrooks.com/corporate-compliance/