How expats can buy property in Bahrain?

Living in Bahrain puts you at the center of the GCC, the regions economical and transportation hub. If anyone is looking for residence permit option in Bahrain for the long term, buying property in Bahrain is now an option for expats.

Who can get residence permit in Bahrain?

1) Expats who has property purchase of 50K BD or more in Bahrain

2) Retired foreigner – worked for 15 years or more in Bahrain

3) Foreign investor – invests 100K BHD or more in a Bahraini company

 

Property requirements:

 

As an expat, you must buy property valued at 50,000 BD or more.  Generally, properties built on reclaimed land or in touristic areas.  Rule of thumb is that if you are buying apartments; go for buildings of 10 stories or more as there are specific requirements for property for this type of visa.

You want to go for properties which have a “Title deed’ or are “Title deed ready” i.e. the title deed for your property has been issued after being split from the developer’s mother title deed.

BENEFITS:

 

  • Foreign property owners in Bahrain have the right to proclaim a self-sponsorship residence permit by law. However, in order to issue a residence permit, the value of the purchased property must be over BHD 50,000.

 

  • Buy a property in Bahrain and your capital will keep on accruing more value by time. Property prices are on the rise in many areas, especially freehold areas where demand is powerful.

The earlier you snatch a real estate opportunity, the better return on investment you will secure

  • High rental income

Bahrain’s rental market provides stable, steady income. Gross rental yield is among the highest in the GCC and a major reason for interest in our freehold market (REMI Global 2017), along with zero taxation on rent and property.

  • Bahrain is the only country in the Gulf where developers can benefit from 100% foreign ownership, making it one of the best places to invest in real estate in the region for investors from outside the GCC

 

  • Easy monetization

Due to high population density, it’s easy for property owners to find buyers and sell their properties to liquefy their held assets.

Visa Advantages of Buying Property in Bahrain

 

In addition to the investment and accommodation benefits of owning a property in Bahrain, it could also be a benefit for your right to visit and stay.

This not only lasts for five years but can also be extended on request. While the visa remains valid, you will be free to come and go at your pleasure. Your spouse and children fewer than 18 are also covered by the visa as long as they only live in Bahrain and don’t seek employment there.

If you sell the property at any time, the Self Sponsorship Residence Permit will be cancelled, regardless of the validity period remaining.

If you have enough savings or loans available, buying a property at home to rent to others can be a good solution. You then know you have a roof over your head when you return.

 

Where Can You Own?

 

You can purchase property in approved freehold areas of Bahrain listed below.

  • Juffair
  • Amwaj Islands
  • Durrat Al Bahrain
  • Seef
  • Bahrain Bay
  • Abraj Al Lulu
  • Riffa
  • Reef Island
  • Saar
  • Diyar Al Muharraq

How Era Helps You For residence Permit?

 

Era has amazing loan schemes for those who are looking to own residential properties in Bahrain. As majority of our properties are freehold, foreigners can also by Era units by meeting the loan requirements as per banks. We offer endless support to sanction your home loan at attractive interest rate with minimal documentation.

Lease-To-Own plans are available for those who plan to buy a house in one of the Bahrain cities to get a residence permit or use it as an overseas residence.  We’ve got you covered from the basic documents required to prepare a tenancy contract to everything you need to register. Basically Era team will assist you with all procedures and documentation steps you are required to complete.

We offer Lease-To-Own offer for our brand new luxury apartments in Era View, which is located in Hoora. Rent-to-own plans are available for BD 450 and BD 900 down payment schemes.

LTO (Lease to Own) apartment, payment modes and procedure is as follows.

Rental payment of BD 450 / BD 900 every month for 36 months (3 years) and upon finishing of 3 years of lease/ rent, tenant has to decide whether they will pay the rest of whole amount of property through bank loan or payment in full cash.

 

Documents Required For Obtaining Residence Permit In Bahrain

A.     Foreigner who owns a property in the Kingdom of Bahrain:

 

  1. Application Form
  2. Clear copy of the Passport & Identity Card
  3. Good Conduct Certificate
  4. Title Deed stated that the value of the property owned by the expat is not less than BD 50,000
  5. Health insurance issued from the Kingdom of Bahrain
  6. Certificate from the Bank confirming that the applicant has a fixed deposit of no less than BD 15,000 in one of the Kingdom’s financial institutions. The applicant must resubmit the certificate every 6 months.
  7. Applicant should have a legal source of income sufficient enough to support himself and his dependents and should not be less than BD 500.
  8. Copy of the previous residency in case or renewal

B.     Foreigner Investor:

 

  1. Application Form
  2. Clear copy of the Passport & Identity Card
  3. Good Conduct Certificate
  4. Copy of the Lease Agreement
  5. Company’s Article of Association stating that the expat’s share is no less than BD 100,000
  6. Health insurance issued from the Kingdom of Bahrain
  7. Certificate from the Bank confirming that the applicant has a fixed deposit of no less than BD 15,000 in one of the Kingdom’s financial institutions. The applicant must resubmit the certificate every 6 months.
  8. Applicant should have a legal source of income sufficient enough to support himself and his dependents and should not be less than BD 500.
  9. Copy of the previous residency in case or renewal

Visit https://www.erabahrain.net/ for exploring through the diversity properties.

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