Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the CBB licence, including banking and payment rails.
Get a crypto license in Bahrain.
The Gulf's first crypto framework - run by its most experienced central bank since 2019: four licence categories under the CBB rulebook, stablecoin issuance rules since July 2025, and a 0% tax base. We build the file end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Bahrain in brief
The Gulf's first framework, still its most complete.
Bahrain moved before its neighbours: the Central Bank of Bahrain issued the Gulf's first comprehensive crypto-asset rules in 2019 - the Crypto-Asset (CRA) Module of Rulebook Volume 6 - licensing services in four categories with capital scaled to scope: advisory at BHD 25,000, brokerage and portfolio management at BHD 100,000, custody at BHD 200,000, and full trading platforms at BHD 300,000. The framework has since matured through amendments and produced serious licensees - including a global top-tier exchange that made Bahrain a regional base. In July 2025 the CBB extended the architecture again, issuing its Stablecoin Issuance and Offering (SIO) Module for single-currency stablecoins backed by the dinar, the US dollar or other approved fiat.
Around the licence sits the Gulf's most established financial system - the CBB has regulated international banking for half a century, and an operating environment of striking simplicity: no corporate income tax for typical operators (the 15% domestic minimum top-up applies only to the largest multinational groups), no personal income tax, VAT at 10%, and operating costs meaningfully below Dubai. For groups that want Gulf presence under a central bank whose rulebook predates the industry's fashions, Bahrain is the quietly serious answer.
The Gulf's first crypto framework: four CBB licence categories with capital from BHD 25,000 to 300,000 - running since 2019, extended by stablecoin issuance rules in July 2025.
Around it: 0% corporate tax (DMTT only for €750M+ groups), no personal tax, and costs below Dubai.
The four categories
Capital scaled to scope - BHD 25k to 300k.
The CRA Module licenses by category: advice, brokerage, custody and platform operation, each with its own capital floor. Stablecoin issuance runs under the separate SIO Module since July 2025. We fix the category first, then build once.
Four categories by scope. Advice to full platform - plus the SIO stablecoin module.
01 - CATEGORIES 1-3
Advisory, brokerage & custody
The graduated entry tiers: advisory services at BHD 25,000 capital, brokerage and portfolio management at BHD 100,000, custody at BHD 200,000. Each under the full CBB supervisory standard.
The graduated entry tiers: advisory services at BHD 25,000 capital, brokerage and portfolio management at BHD 100,000, custody at BHD 200,000. Each under the full CBB supervisory standard.
- ✓Category 1 - advisory · BHD 25,000
- ✓Category 2 - brokerage / portfolio · BHD 100,000
- ✓Category 3 - custody · BHD 200,000
- ✓Fit & proper controllers and management
- ✓CBB-grade systems and safekeeping rules
- ✓A ladder - categories upgrade as you scale
02 - CATEGORY 4 & STABLECOINS
SIO rules - since 4 July 2025Trading platform & issuance
The full exchange licence at BHD 300,000 capital. Order books, listings and fiat rails under the central bank - plus the 2025 SIO Module for issuing single-currency stablecoins backed by BHD, USD or other approved fiat.
Category 4 exchange at BHD 300k, and single-currency stablecoin issuance under the 2025 rules.
- ✓Category 4 - platform operation · BHD 300,000
- ✓Order books, listings and market rules
- ✓Fiat rails through Bahraini banks
- ✓SIO Module - stablecoin issuance licensing
- ✓BHD, USD and approved-fiat backing
- ✓The Gulf's most complete single rulebook
Costs and timelines are confirmed for your case before any work begins. Category capital runs BHD 25,000-300,000 per the CRA Module; CBB application and annual fees, plus substance costs, are itemised in your quote.
Why Bahrain
A central bank that moved first - and kept building.
The framework is the CBB's CRA Module. The Gulf's first. Extended by the 2025 stablecoin rules, inside a financial system with fifty years of international supervision behind it.
✓
First in the Gulf, since 2019
While neighbours consulted, Bahrain licensed. Six-plus years of supervisory practice mean precedents exist, expectations are known, and the desk processes rather than improvises.Licensing since 2019 - precedents exist.
✓
A graduated capital ladder
BHD 25,000 opens advisory; BHD 300,000 runs a full exchange. The ladder lets groups enter at their real scale and upgrade categories as volume justifies. Rare candour in licence design.Enter at BHD 25k; upgrade as you scale.
✓
Stablecoin rules, live
The SIO Module of July 2025 licenses single-currency stablecoin issuance backed by BHD, USD or other approved fiat. One of the region's clearest issuance frameworks.SIO Module since 4 July 2025.
✓
A proven home for majors
Global exchanges chose Bahrain as a regional licensing base. The CBB's stamp has already carried industry-scale operations, not just boutiques.Industry-scale licensees already here.
✓
The 0% base
No corporate income tax for typical operators, no personal income tax, VAT at 10%. With the 15% domestic minimum tax touching only the largest multinational groups.No CIT, no personal tax; VAT 10%.
✓
Gulf presence at sensible cost
Offices, salaries and services run meaningfully below Dubai. With the region's most experienced financial regulator and a causeway to Saudi Arabia's market next door.Below Dubai, causeway to Saudi.
How it compares
How Bahrain differs from other routes.
Bahrain is the Gulf's quiet incumbent: older rules, lower costs, a central-bank stamp. The side-by-side comparison is below.
Bahrain vs other jurisdictions
| Feature |  Bahrain | Other jurisdictions |
|---|---|---|
| Regulatory regime | CBB CRA - since 2019 | Newer Gulf frameworks |
| Capital entry | From BHD 25,000 | Often six-figure USD floors |
| Stablecoin issuance | SIO Module - July 2025 | Frameworks still forming |
| Cost base | Below Dubai | Premium Gulf pricing |
Regulatory regime
BahrainCBB CRA - since 2019
Other jurisdictionsNewer Gulf frameworks
Capital entry
BahrainFrom BHD 25,000
Other jurisdictionsOften six-figure USD floors
Stablecoin issuance
BahrainSIO Module - July 2025
Other jurisdictionsFrameworks still forming
Cost base
BahrainBelow Dubai
Other jurisdictionsPremium Gulf pricing
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Bahrain | CBB categories 1-4 | 0% CIT · DMTT for large MNEs | Central-bank desk since 2019 |
 UAE (Dubai) | VARA VASP by activity | 9% CIT · 0% personal | Substance-heavy, 3-9 months |
 Kazakhstan | AFSA licences (AIFC) | 0% CIT/VAT to 2066 | Published fees, English-law court |
 Cyprus | MiCA CASP (CySEC) | 15% CIT · 8% founder gains | EU passport, experienced bench |
BahrainLicense typeCBB categories 1-4
Taxation0% CIT · DMTT for large MNEs
RequirementsCentral-bank desk since 2019
UAE (Dubai)License typeVARA VASP by activity
Taxation9% CIT · 0% personal
RequirementsSubstance-heavy, 3-9 months
KazakhstanLicense typeAFSA licences (AIFC)
Taxation0% CIT/VAT to 2066
RequirementsPublished fees, English-law court
CyprusLicense typeMiCA CASP (CySEC)
Taxation15% CIT · 8% founder gains
RequirementsEU passport, experienced bench
Before you apply
Requirements for the CBB licence.Requirements for the CBB licence.
The CRA Module reads like what it is. A central bank's rulebook. The checklist below is what a passing application contains.
01
Bahraini entity. A locally incorporated company with its operations genuinely in the Kingdom.
02
Category capital. BHD 25,000 / 100,000 / 200,000 / 300,000 by category, paid in and maintained.
03
Fit & proper controllers and management. Clean records, competence and transparent ownership to UBOs.
04
Local presence. Office, resident senior management and staffing the CBB can reach.
05
Systems and safekeeping. Platform, wallet and key-management architecture per the module's standards.
06
Client asset protection. Segregation of client money and crypto-assets with documented controls.
07
AML/CFT programme. KYC, monitoring and reporting per CBB and FID standards, with a named MLRO.
08
Business plan. Services, volumes and financials the central bank can interrogate.
09
Professional indemnity and audit. Coverage and independent audit arrangements as required.
10
For issuance: the SIO Module's reserve, disclosure and licensing requirements. A separate file, scoped alongside.
01
Bahraini company, operations in-Kingdom.
02
Category capital BHD 25k-300k, paid in.
03
Fit & proper controllers to UBOs.
04
Resident management and office.
05
Systems per the CRA Module.
06
Segregated client money and crypto.
07
CBB/FID-grade AML with MLRO.
08
Interrogable business plan.
09
Indemnity and audit arrangements.
10
SIO file for issuance models.
Reflects the CBB Rulebook Volume 6 CRA Module and the SIO Module (4 July 2025) as of 2026.CBB Rulebook Vol. 6 CRA + SIO Module (4 Jul 2025), as of 2026.
How it works
From first call to the CBB register.
01
Perimeter and strategy
Category 1-4 or SIO issuance. We fix the scope, capital and timeline in writing.Category or SIO. Fixed in writing.
02
Bahraini company and substance
Local incorporation, resident management and the office the CBB verifies.Local entity, resident management.
03
The application file
Business plan, systems and safekeeping documentation, AML programme. Assembled to the CRA Module's standard.To the CRA Module's standard.
04
CBB review
Question rounds with the central bank - 4-8 months in practice for complete files. We answer every round.4-8 months; we answer every round.
05
Licence and operation
Register entry, launch under supervision, and the reporting calendar we can keep running.Register entry, launch, reporting.
Quick facts
RegulatorCBB
FrameworkCRA Module - 2019
Categories4
CapitalBHD 25k / 100k / 200k / 300k
StablecoinsSIO - since 4 Jul 2025
In practice4-8 months
Corporate tax0% · DMTT large MNEs
Personal taxNone
Six-plus years of CRA practice make the CBB's expectations knowable. Files built to the module clear it.
On the ground in Bahrain
Run from our Manama office.
Prifinance - Bahrain
Manama · Bahrain
Manama, Bahrain
01
Bahraini company formation
Local incorporation, registered office and the corporate layer the CBB expects. Structured for the category you file.Structured for your category.
02
The CBB file
Application, business plan, systems documentation and AML pack. Drafted by us and defended through the central bank's rounds.Defended through central-bank rounds.
03
Substance and staffing
Resident management, compliance hires and office arrangements in Manama. Real presence at Bahraini cost.Manama presence at Bahraini cost.
04
Stablecoin structuring
SIO issuance files. Reserves, disclosures and licensing - scoped alongside or after the service licence.SIO files, scoped alongside.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Bahrain.
The Gulf's simplest serious tax environment: no corporate income tax for typical operators, no personal tax. With one modern caveat for the very largest groups.
0% corporate income tax
Bahrain levies no corporate income tax on typical businesses. Platform, brokerage and custody profits accrue untaxed at the entity level.Non-oil businesses untaxed.
The DMTT caveat
From 2025 Bahrain applies a 15% domestic minimum top-up tax, but only to multinational groups above the €750 million global revenue threshold. Startups and mid-size groups sit outside it.15% only for €750M+ groups.
No personal income tax
Salaries, dividends and founders' gains carry no personal income tax. The full Gulf package, at Bahraini cost of living.Salaries and gains clean.
VAT at 10%
The standard VAT rate is 10% on ordinary supplies. Financial-services treatment applies per NBR guidance, and we plan the product-level analysis upfront.Product analysis planned upfront.
Social insurance, not payroll tax
Employer contributions for Bahraini and expatriate staff follow published social-insurance schedules. Modest and predictable.Published schedules.
Substance is the system
With no income tax to argue about, the compliance centre of gravity is regulatory substance, which the CBB checks directly. Clean operations are the whole game.The CBB checks it directly.
Tax summary
Corporate income tax0% (non-oil)
DMTT (≥ €750M groups)15% · from 2025
Personal income taxNone
VAT10%
Withholding taxesNone
Tax treaties45+
*Figures as of 2026. The DMTT touches only the largest multinational groups. We confirm your position in structuring.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Bahraini company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, CBB-licensed business.
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Bahrain · CBB
Launch your crypto project in Bahrain with expert support.
Full-service assistance - from company registration to the CBB licence and ongoing compliance.
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Is Bahrain the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Bahraini crypto licence: the practical answers.
What licence does a crypto business need in Bahrain?+
A crypto-asset licence from the Central Bank of Bahrain under the CRA Module of Rulebook Volume 6 - in one of four categories: advisory, brokerage/portfolio management, custody, or platform operation.
What are the capital requirements?+
Scaled by category: BHD 25,000 for advisory, BHD 100,000 for brokerage and portfolio management, BHD 200,000 for custody, BHD 300,000 for a full trading platform - paid in and maintained.
How long does licensing take?+
Complete files move in 4-8 months in practice - the CBB has run this framework since 2019, so precedents exist and expectations are documented in the module itself.
What are the stablecoin rules?+
The Stablecoin Issuance and Offering (SIO) Module, issued 4 July 2025, licenses single-currency stablecoins backed by the Bahraini dinar, the US dollar or other fiat acceptable to the CBB - reserves, disclosures and ongoing requirements included.
What substance does the CBB expect?+
A Bahraini company with resident senior management, a real office, category capital in place, segregated client assets, CBB-grade systems and a named MLRO - verified, not declared.
Is it true there is no corporate tax?+
For typical operators, yes - Bahrain levies no corporate income tax outside oil and gas. The 15% domestic minimum top-up applies only to multinational groups above €750 million in global revenue; VAT runs at 10%.
Have major exchanges actually licensed here?+
Yes - Bahrain hosts globally top-tier licensed operators, and the CBB's framework has carried industry-scale business since well before neighbouring regimes matured.
How does Bahrain compare with Dubai?+
Older rules, one regulator instead of several, lower operating costs, and 0% corporate tax against the UAE's 9%. Dubai offers scale and brand gravity; Bahrain offers the quieter, cheaper central-bank route - many groups hold both.
Can foreign groups own the licensee?+
Yes - foreign ownership is standard, subject to the CBB's fit-and-proper vetting of controllers up to UBOs.
Why Bahrain rather than the AIFC or Cyprus?+
Against the AIFC: a central-bank stamp, no US$98k fee stack, and Gulf-market adjacency. Against Cyprus: no EU passport, but a 0% tax base and the Saudi causeway. It depends on where your clients are, and we model exactly that.
What licence is needed?+
CBB crypto-asset licence - categories 1-4.
Capital?+
BHD 25k / 100k / 200k / 300k by category.
How long?+
4-8 months; the desk runs on precedent.
Stablecoins?+
SIO Module since 4 July 2025 - BHD/USD backing.
Substance?+
Resident management, office, real systems.
No corporate tax?+
0% for typical operators; DMTT for giants.
Majors here?+
Yes - industry-scale licensees since early days.
Vs Dubai?+
Older rules, lower cost, 0% vs 9%.
Foreign ownership?+
Standard - vetted to UBOs.
Why Bahrain?+
The Gulf's quiet incumbent - first and cheapest.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
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Google
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Google
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Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Bahraini category fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Central Bank of Bahrain or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.