Fama Accounting Services, Office 2294, Building 574 Road 31 Block 611 Al Hamriya, Bahrain
Fama Accounting Services, Office 2294, Building 574 Road 31 Block 611 Al Hamriya, Bahrain
Managing financial records, transactions, and VAT compliance is crucial for every business in Bahrain. Without accurate bookkeeping and accounting, companies risk financial mismanagement, compliance issues, and lost profitability. Our professional bookkeeping and accounting services help businesses stay organized, ensure error-free financial reporting, and remain fully compliant with Bahrain’s tax laws. Whether you’re a startup, SME, or large enterprise, our certified accountants provide cost-effective, technology-driven, and customized solutions to streamline your finances and maximize efficiency.
✅ Certified Accountants & Financial Experts – Specialists in financial reporting, VAT compliance, and bookkeeping.
✅ 100% Compliance with Bahrain’s Financial & Tax Laws – Ensuring adherence to IFRS, MOIC, and NBR VAT regulations.
✅ Accurate & Transparent Financial Reporting – Helping businesses make data-driven financial decisions.
✅ Cost-Effective & Scalable Solutions – Customized accounting services for businesses of all sizes.
✅ Cloud-Based & Technology-Driven Accounting – Secure, automated, and efficient financial management.
✅ Industry-Specific Expertise – Tailored bookkeeping and accounting solutions for various sectors.
✅ End-to-End Financial Management – From daily transaction tracking to audit preparation and tax planning.
Our all-in-one accounting solutions ensure your business meets financial and compliance requirements while optimizing performance and profitability.
📌 Daily Transaction Recording – Ensure accurate financial tracking for all business activities.
📌 Accounts Payable & Receivable Management – Maintain a healthy cash flow and avoid overdue payments.
📌 Bank Reconciliation – Regular checks to ensure financial accuracy and fraud prevention.
📌 Expense & Revenue Tracking – Monitor business expenditures and optimize profitability.
📌 Financial Record Maintenance – Organized bookkeeping to keep business operations smooth and audit-ready.
📌 Inventory & Asset Management – Maintain accurate records of stock, purchases, and depreciation.
📌 Financial Statement Preparation – Generate accurate profit & loss statements, balance sheets, and cash flow reports.
📌 Budgeting & Financial Forecasting – Plan ahead with strategic financial insights and cost control measures.
📌 Payroll & Employee Benefits Management – Ensure timely salary payments and compliance with Bahrain’s labor laws.
📌 Cash Flow Management – Improve liquidity and working capital efficiency.
📌 Tax Planning & Advisory – Reduce tax liabilities through smart financial planning.
📌 Audit Preparation & Compliance – Ensure financial transparency for external and internal audits.
📌 VAT Registration & Filing – Hassle-free VAT registration with Bahrain’s National Bureau for Revenue (NBR).
📌 VAT Return Preparation & Submission – Accurate quarterly and monthly VAT filings.
📌 VAT Input & Output Reconciliation – Ensure proper VAT reclaims and accurate tax submissions.
📌 VAT Compliance Audits – Stay fully compliant and avoid penalties.
📌 VAT Exemptions & Zero-Rated Transactions – Optimize tax strategies for better financial management.
📌 Mandatory VAT Compliance – Businesses exceeding BHD 37,500 annual revenue must register for VAT and file returns.
📌 Legal & Financial Transparency – Proper financial records help businesses avoid legal risks and penalties.
📌 Better Decision-Making – Organized financial reports enable strategic planning and investment growth.
📌 Audit Readiness – Accurate records ensure seamless audits and financial reviews.
📌 Increased Business Credibility – Investors, banks, and stakeholders trust businesses with accurate financial records.
Our services are designed for all business types in Bahrain, including:
🏢 Small & Medium Enterprises (SMEs) – Affordable solutions to keep financials organized and tax-compliant.
🏢 Startups & Entrepreneurs – Scalable accounting solutions for new businesses.
🏢 Corporate Entities & Large Businesses – Advanced accounting strategies for profitability and compliance.
🏢 E-Commerce & Retail Businesses – VAT compliance for online and offline sales.
🏢 Construction & Real Estate Firms – Financial tracking for large-scale transactions.
🏢 Financial & Investment Firms – Bookkeeping for regulated financial institutions.
🏢 Healthcare & Hospitality Businesses – Payroll, tax planning, and financial reporting.
🏢 Freelancers & Consultants – Easy-to-manage tax and accounting solutions.
📌 Step 1: Initial Consultation & Business Assessment – Understanding your financial needs and goals.
📌 Step 2: Implementation of Bookkeeping & Accounting Systems – Setting up cloud-based financial solutions.
📌 Step 3: Regular Accounting & Reporting – Monthly bookkeeping, VAT filings, and compliance monitoring.
📌 Step 4: Audit & Tax Compliance Preparation – Ensuring your business remains audit-ready and financially secure.
📌 Step 5: Financial Analysis & Growth Planning – Helping businesses scale with strong financial strategies.
We use advanced accounting software to ensure efficiency, accuracy, and compliance:
| Software | Features |
|---|---|
| Zoho Books | Cloud-based accounting, automated VAT tracking, and real-time reporting. |
| QuickBooks | Expense tracking, invoicing, and cash flow analysis. |
| Tally ERP | Ideal for businesses with complex financial needs. |
| Xero | Secure cloud accounting with automated VAT filing. |
| Odoo Accounting | Comprehensive ERP system for full financial management. |
🚨 Did you know? Businesses that fail to comply with Bahrain’s VAT regulations can face penalties of up to BHD 10,000! Our expert accountants ensure:
✅ Timely VAT return filings & error-free financial statements.
✅ Accurate record-keeping for VAT reclaims & audits.
✅ Guidance on VAT exemptions and zero-rated transactions.
✅ Risk assessment & compliance checks to avoid fines.
✅ Optimized tax strategies to enhance business profitability.
🔹 Certified Accountants & Bookkeepers with deep industry expertise.
🔹 Custom Bookkeeping & Accounting Solutions for every business.
🔹 Reliable, Transparent, and Affordable Services.
🔹 100% Compliance Guarantee with Bahrain’s financial laws.
🔹 Cloud-Based, Secure, and Efficient Accounting Processes.
🔹 Dedicated Support for Financial Growth & Risk Management.
🔹 Proven Track Record of Delivering High-Quality Accounting & VAT Solutions.
Take control of your business finances and tax compliance with our expert bookkeeping and accounting services. Whether you need daily transaction management, VAT filing, or financial reporting, we’ve got you covered.
With the introduction of Value Added Tax (VAT) in Bahrain, businesses must ensure they are fully compliant with local regulations to avoid fines and maintain smooth operations. Our services ensure:
✅ Accurate VAT calculations and filings.
✅ Error-free bookkeeping for tax audits.
✅ Cost savings through VAT optimization strategies.
✅ Peace of mind knowing your financials are in expert hands.
✅ Improved business credibility and investor confidence.
✅ Seamless regulatory compliance for local and international operations.
Our services cater to businesses of all sizes and industries operating in Bahrain, including:
📌 Small & Medium Enterprises (SMEs) – Streamline accounting processes and tax compliance.
📌 Startups & Entrepreneurs – Affordable and efficient accounting solutions to manage finances.
📌 Retail & E-Commerce Businesses – VAT compliance for online and offline transactions.
📌 Construction & Real Estate Companies – VAT advisory on industry-specific transactions.
📌 Corporate Entities & Large Businesses – Advanced accounting strategies for profitability.
📌 Freelancers & Consultants – Hassle-free tax reporting and financial planning.
📌 Manufacturing & Trading Companies – Optimize VAT compliance on goods and imports.
📌 Service-Based Businesses – Financial management for professional service providers.
📌 Step 1: Consultation & Assessment – Understanding your business needs.
📌 Step 2: Implementation of Accounting & VAT Systems – Setting up cloud-based solutions.
📌 Step 3: Ongoing Compliance & Reporting – Monthly financial management and VAT filings.
📌 Step 4: Audit Support & Advisory – Ensuring full regulatory compliance and business growth.
📌 Step 5: Financial Analysis & Growth Planning – Helping businesses scale with strong financial planning.
We utilize leading accounting and VAT software to ensure efficiency, accuracy, and compliance:
| Software | Features |
|---|---|
| Zoho Books | Cloud-based accounting, VAT automation, and real-time tracking. |
| QuickBooks | Easy invoicing, expense tracking, and compliance reporting. |
| Tally ERP | Best for large businesses with complex financial needs. |
| Xero | Automated VAT filing and secure financial management. |
| Odoo Accounting | Comprehensive ERP system for VAT and financial planning. |
🚨 Did you know? Businesses failing to comply with Bahrain’s VAT regulations can face penalties up to BHD 10,000 for late or incorrect filings! Our experts ensure:
✅ Timely VAT returns & error-free financial statements.
✅ Accurate record-keeping for VAT reclaims & audits.
✅ Guidance on VAT-exempt and zero-rated transactions.
✅ VAT risk assessment & compliance checks to avoid fines.
✅ Optimized tax strategies to enhance profitability.
✅ Assistance with government tax incentives and rebates.
🔹 Certified Accountants & VAT Specialists with deep industry expertise.
🔹 Customized Accounting & VAT Solutions for every business.
🔹 Reliable, Transparent, and Affordable Services.
🔹 100% Compliance Guarantee with Bahrain’s financial laws.
🔹 Cloud-Based, Secure, and Efficient Accounting Processes.
🔹 End-to-End Financial Support from Bookkeeping to Tax Advisory.
🔹 Trusted by Hundreds of Businesses Across Bahrain.
Various regulatory bodies govern Bahrain’s accounting landscape, ensuring businesses adhere to financial reporting and compliance requirements.
| Regulatory Authority | Role in Accounting Compliance |
|---|---|
| Ministry of Industry & Commerce (MOIC) | Oversees business registrations, financial regulations, and commercial compliance. |
| Central Bank of Bahrain (CBB) | Regulates financial institutions, banks, and investment firms in Bahrain. |
| National Bureau for Revenue (NBR) | Governs VAT registration, compliance, and reporting. |
| Bahrain Commercial Companies Law (BCCL) | Mandates financial record-keeping, audits, and reporting for companies. |
| International Financial Reporting Standards (IFRS) | Global accounting standard applied in Bahrain for financial transparency. |
Key Takeaway: Businesses operating in Bahrain must maintain accurate accounting records, submit periodic financial reports, and comply with VAT regulations to avoid penalties.
Bahrain follows International Financial Reporting Standards (IFRS), ensuring businesses align with global best practices. The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards also apply to Islamic finance institutions operating in Bahrain.
| Accounting Standard | Applicable Businesses |
| IFRS | Public companies, multinational corporations, financial institutions |
| IFRS for SMEs | Small and medium enterprises (SMEs) |
| AAOIFI | Islamic financial institutions |
Companies are required to maintain financial statements, including balance sheets, income statements, and cash flow reports, adhering to IFRS principles.
Businesses in Bahrain can benefit from a range of accounting services that streamline operations and ensure compliance.
Accurate bookkeeping ensures every financial transaction is recorded properly. This includes:
Recording daily transactions.
Managing accounts payable and receivable.
Reconciling bank statements.
Bahrain implemented VAT (Value Added Tax) at 10%, requiring businesses to:
Register for VAT with the National Bureau for Revenue (NBR).
File VAT returns on time to avoid penalties.
Maintain proper VAT invoicing and compliance documentation.
Efficient payroll management ensures timely salary payments while complying with Bahrain’s labor laws.
Monthly salary processing.
End-of-service benefits calculation.
WPS (Wage Protection System) compliance.
Businesses must maintain annual financial statements for tax reporting and auditing purposes.
Preparation of balance sheets, profit & loss statements, and cash flow reports.
Conducting internal and external audits.
Ensuring compliance with MOIC and CBB regulations.
Many businesses in Bahrain use accounting software like:
Zoho Books (for SMEs & startups)
QuickBooks (for cloud-based accounting)
Tally ERP (for large enterprises)
Odoo ERP (for automated accounting & reporting)
Solution: Work with an experienced accounting firm in Bahrain to stay updated on new tax laws and compliance regulations.
Solution: Use automated accounting software or outsource VAT compliance to professionals.
Solution: Implement cloud-based payroll systems to ensure error-free salary processing.
Solution: Conduct periodic audits and use standardized accounting frameworks like IFRS.
Yes, businesses with an annual turnover above BHD 37,500 must register for VAT in Bahrain.
Zoho Books, QuickBooks, Tally ERP, and Odoo are popular choices for Bahrain companies.
Yes, all businesses in Bahrain must undergo an annual external audit as per the Bahrain Commercial Companies Law.
Yes, many businesses choose to outsource accounting in Bahrain to specialized firms for cost efficiency and compliance.
Bahrain has adopted the Bahraini Accounting Standards (BAS), which are aligned with the International Financial Reporting Standards (IFRS). These standards ensure consistency, transparency, and comparability of financial statements across businesses.
Most businesses in Bahrain are required to prepare their financial statements in accordance with IFRS. These globally recognized standards enhance the credibility of financial reports and facilitate international business operations.
Bahrain’s taxation system is relatively simple compared to other countries. Key taxes include:
Value Added Tax (VAT): Introduced in 2019, VAT is levied at a standard rate of 5% on most goods and services.
Corporate Tax: Bahrain does not impose corporate tax on most businesses, except for oil and gas companies, which are subject to a 46% tax rate.
Withholding Tax: A 5% withholding tax is applied to royalties, interest, and other payments made to non-residents.
Whether you’re a small business or a multinational company, having accurate, compliant, and strategic accounting in Bahrain is essential for success. From VAT compliance and bookkeeping to financial reporting and auditing, the right accounting partner can save you time, money, and legal troubles.
Get Started Today! If you need expert accounting in Bahrain, contact us for a free consultation and discover how our tailored services can benefit your business.
Minimize risks and maximize growth with our comprehensive accounting solutions in Bahrain.
Below is an overview of our general pricing packages for our suite of services in Bahrain. Costs vary depending on factors such as the services we offer.
Read some reviews and success stories from our loyal customers who achieved their goals and how our expert solutions have made a lasting impact on their growth, compliance, and financial clarity. Your success is our greatest achievement!
Client
I am so happy to have chosen this company! Right from the start it was a very easy decision, I knew I am in the right hands. They contacted me with every update they had and always kept me up to date with all the information and steps that we will proceed next.
Client
Highly recommend for anyone looking to establish a company in Bahrain! Waqas Akram and his team made the entire process smooth and stress-free. They were incredibly knowledgeable, responsive, and handled every detail with professionalism.
Client
The team was highly professional, efficient, and knowledgeable. They ensured that all paperwork and procedures were handled smoothly, saving us both time and effort. I highly recommend their services to anyone looking out there.
Client
Abdullah and the team have been great in assisting me with related tasks. In challenging timeframes they've supported me to ensure our company operations can start in Bahrain without any issues. Thank you. I will recommed their services.
Client
I was extremely impressed with their services. Their expertise made everything smooth and hassle-free. I highly recommend Setup in Bahrain for anyone looking for their business here. Their professionalism and commitment to customer satisfaction are top-notch.
With years of experience and a highly qualified team, we bring unmatched expertise and in-depth knowledge of Bahrain’s financial landscape to every service we provide.
With a reputation for precision, and excellence, we are here to support your business growth while ensuring compliance with Bahrain’s financial and regulatory standards.
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Accounting, VAT, & Audit Services by famabh