Bahrain is seeking to emulate the success of a Singapore-based arbitration panel by launching its own International Commercial Court.
It will target ultra-high-net-worth individuals and family offices, which are private wealth management advisory firms serving multi-generational wealthy families.
In the UAE, both Abu Dhabi General Markets and Dubai International Financial Centre have adopted English Common Law, which has helped attract thousands of holding companies and hundreds of family offices.
“Historically, Bahrain has offered lower incorporation fees compared to other GCC countries. Combined with a robust legal framework, this could bolster investor confidence and attract a wave of businesses and high-net-worth individuals seeking a safe and reliable alternative to the UAE,” said Scott Cairns, managing director of Creation Business Consultants in Dubai.