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  • GR-4 GR-4 Cessation of Business

    • GR-4.1 GR-4.1 CBB Approval

      • GR-4.1.1

        [This Paragraph was moved to GR-3.1.1A].

        Amended: April 2012
        December 2010

      • GR-4.1.2

        As specified in Article 50 of the CBB Law, a representative office licensee wishing to cease its presence in the Kingdom of Bahrain, must obtain prior written approval from the CBB.

        December 2010

      • GR-4.1.3

        Representative office licensees seeking to obtain the CBB's permission to cease business must apply to the CBB in writing, in the form of a covering letter together with any supporting attachments. Unless otherwise directed by the CBB, the application must provide:

        (a) The rationale for the cessation; and
        (b) Evidence that the proposed cessation has been duly authorised by the licensee head office/parent company.
        December 2010

      • GR-4.1.4

        Licensees should ensure that all outstanding expenses are settled before cessation of business and should confirm it to the CBB.

        December 2010

      • GR-4.1.5

        When the CBB has given its approval to an application to cease business, the representative office licensee must publish a notice of its intention to cease business in two local daily newspapers (one in Arabic, the other in English). Notices must also be displayed in the premises. These notices must be given not less than 30 calendar days before the cessation is to take effect, and must include such information as the CBB may specify.

        December 2010

      • GR-4.1.6

        The CBB will normally require that the notices required under Rule GR-4.1.5 include a statement that written representations concerning the cessation of business may be submitted to the CBB.

        December 2010

      • GR-4.1.7

        Where the CBB has given its approval to cancel or amend a license, then it will also publish its decision in the Official Gazette, as well as in two local daily newspapers (one in Arabic, the other in English), once this decision has been implemented. The publication cost of these notices is to be met by the licensee concerned.

        December 2010

      • GR-4.1.8

        Upon satisfactorily meeting the requirements set out in GR-3.1, the representative office licensee must surrender the original license certificate issued by the Licensing Directorate at the time of establishment, and submit confirmation of the cancellation of its commercial registration from the Ministry of Industry, Commerce and Tourism.

        Amended: April 2020
        Added: October 2016