Executive summaryThe Bahrain Ministry of Industry, Commerce and Tourism (MOICT) has published guidance and frequently asked questions (FAQs) on the economic substance requirements for non-regulated commercial activities.The guidance applies to entities engaged in distribution and service center, headquarters, holding companies, unregulated leasing, shipping and intellectual property (IP) activities in Bahrain. The guidance sets out the reporting requirements for entities engaged in such activities, as well as the various tests that will be used to determine whether an entity has the level of substance required under Bahrain’s economic substance rules.The rules apply to financial periods starting on or after 1 January...