The Central Bank of Bahrain has recently introduced the Limited Partnership Law (the Law) in the Kingdom of Bahrain. The law was passed by Parliament and was published on 4 August 2016 in the Official Gazette.
In order for the Law to be applicable and enforced in Bahrain, it shall come into effect thirty (30) days following the date of its publication in the Official Gazette.
The introduction of the Law further cements Bahrain’s status as a regional hub for Funds and is particularly relevant to Private Equity, Venture Capital and Real Estate Funds. The Law places Bahrain at the forefront in terms of regional funds legislation, and brings Bahrain further in line with developed jurisdictions for Fund formation such as the UK, Luxemburg and the Cayman Islands.
We are expecting additional information and press releases on the implementation of the Law under the CBB Rulebook to be released in the coming months and will keep you updated on developments.