danielcfdz

Hi,

I'll be moving to Bahrain at the beginning of next month. Initially I'll be on a two year contract. I have the following financial related doubts I'd appreciate some help on:

- Is there any particular bank that offers favourable rates for setting up accounts, transferring money to and from Bahrain?
- Buying property vs renting? Initially, I'll be travelling on my own and later will be joined by my gilfriend. Compensation is roughly 3100 dinars / month (all inclusive) which should cover rental expenses. The thought of possibly buying a flat after a year crossed my mind. However, I'd like to get an opinion from someone who's already gone through this. Is it common for expats on medium term contracts to buy property in Bahrain? How "safe" an investment is it?

Thank you

Rog_Rams

Good luck on your imminent move to Bahrain. You should enjoy it.

There are many banks available to choose from. HSBC, Citibank, Standard Chartered should perhaps be your first point of call.

You have a reasonable salary there to be getting on with, but at this stage in the development of the property market it is VERY unusual for Western expats to buy property. That is not to say you can't, some people have, and indeed made money "on paper" in one or two developments. However, the market is by no means mature and the "safety" of the investments would be open to question at this point.
I believe for example, that no-one who has purchased property here has yet received the much-vaunted permanent residence permit that is supposed to accompany it.
I'd rent for a while and chat to a few "experts" in the property field when you get here, there are plenty!

lionheart

You may need to consider marrying your girlfriend to avoid breaking local cohabitation rules...

danielcfdz

Thank you both Rog_Rams and lionheart.=)

uhoh.....Marriage hasn't crossed my mind, at least not at this stage. Is it highly unusual for people to cohabit? What problems have expats faced?

danielcfdz

Just a thought on the marriage issue......Would wearing a ring and telling people we're married do? Or does the government carry out spot checks? I'll be working with one of the ministries if this helps.

Confucius

I think that a proof of marriage if 2 people people sleep with each other...
Over here in Dubai we make sure we do that,just in case we get our spots checked...

Rog_Rams

Discretion is the key. Theoretically it is not allowed to co-habit, well, not theoretically. It is against the law.

But, this is a fairly relaxed and tolerant place and many people do co-habit. The issue for you will be your GF's residence visa etc. Is she coming to work? Does she have a job already? In that case, she'll get residence from her employer. If you were married, she'll get residence from you. If neither of those things apply, she'll be here under a tourist visa, for 3 months, renewable once. Then she'll need to leave and re-enter the country.

That's OK, lots of people do that too, but it is possible that she will be questioned as to why. The immigration people are on the look out for "professional ladies" who use that method to gain access to the country. If your GF is a British national she is less likely to be questioned that some other nationalities.

Without a residence permit, she will be unable to obtain a CPR (population registration) card. Without that it will be difficult to obtain many local services, cheap healthcare at Govt health centres, a bank account, local credit cards, car loans, car rental etc

Once you rent a flat you will want to be discreet with your landlord about your precise status.

Basically, if all goes smoothly, you'll have no problem. If however, after a boozy night out your GF drives home and runs into a prominent local, you could both find yourselves in doo-doo of the deepest, darkest and smelliest type.

Your choice!

danielcfdz

Thank you for laying it out as it is Rog_rams. The practical advice is much appreciated.=)

She will eventually be coming to work and try to look for a job in her field (law, women, human rights). We´re both Spanish nationals.

Rog_Rams

Women? Law? Human Rights? That will be challenging~! Not really three things you'd associate with each other in Gulf States!

The market for lawyers here is booming, but more in terms of commercial law - still, your GF's skills are sorely needed, if perhaps rather difficult to apply at the moment.

As Spanish nationals you'll be popular with the locals if you like football - if they don't support Manchester United here, then it's usually either Real Madrid or Barcelona.

Not easy to get good chorizo though I'm afraid.