UAE

Company Formation in Qatar

February 08, 2022 waterandshark Blog-2-Qatar.jpg

Qatar is amongst the wealthiest countries in the world. It has the second largest per capita income. It is the world’s top liquefied natural gas exporter, a major oil producer, and growing financial services and tourism hotspot which has driven this economic success. In recent years, the government has taken steps to diversify away from oil and gas through large infrastructure projects and has focused on promoting the role of SMEs in the private sector. At present, it has more foreign owned business with vast diversification.

It has many opportunities for investment mainly due to growing economy and modernization. It boasts one of the world’s freest economies and has relaxed foreign investment rules. Qatar is regarded as one of the best and brightest places for setting up a business.

As an emerging economic and regional powerhouse, Qatar provides numerous advantages to potential business set ups

  • State of the art infrastructure
  • Economic stability
  • Modern, fast-growing and diverse economy
  • A High personal wealth
  • Strong government support
  • Increased Social Development
  • Reduced Tariff Rates

Following are a few Qatar Government Backed Businesses.

Exemptions from foreign ownership laws may be granted to foreign companies or individuals who receive a decision from the Minister of Economy and Trade on conducting business in Qatar as a 100% foreign business. This exception may be provided if the business sector falls into the following economic sectors:

  • Agriculture
  • The development and exploitation of natural resources.
  • Industry
  • The businesses of technology and information professionals.
  • Health
  • Cultural, sporting and recreational services.
  • Education
  • Distribution facilities.
  • Tourism
  • Power or mines,

provided that such projects are in line with the Qatar State development plan. Priority will be given to projects that may benefit from the full utilization of local resources, industries planned for shipping, the introduction of new products or the use of new technologies, and projects aimed at making global industry leaders or suppliers. training and qualifications for the people of Qatar.

What are the types of Companies that one can establish in Qatar?

  • Partnership Company
  • Partnership in Commendams Company (Joint Partnership)
  • The Limited Liability Company
  • Joint Stock Company
  • Closed Stock Company
  • Joint Venture Company

Setting up a business anywhere has its own challenges and complications ranging from documentation to procedures. In Qatar, a business can be set up in both Mainland and Freezone. To simplify the process, here are a list of documents required to set up a business in Qatar(Mainland).

  • CR – Commercial Registration document.

    It is issued by the Ministry of Economy and Commerce, and it is the First document required in setting up a business in Qatar.

    Document Required:
      A) A copy of the trade name approved by the Ministry.
      B) A letter from the bank confirming that the minimum capital for the company has been deposited.
      C) The articles of associations approved.
  • TR – Trade License.

    The Ministry of Economy and commerce must approve the office space picked by a business to obtain a Trade License.

    Documents Required:
      A)   Have to submit ID copies of the authorized persons in your business.
      B)   CR Copy.
      C)   Articles of Incorporation.
      D)   Picture of your office building with the address and location blue plate and picture of your office space along with the signage showing your business name.
      E)   Building completion certificate and a copy of the ID of the building owner of where your office is situated.
      F)   Rental acknowledgement, ownership instrument and Civil Defense approval of your office once it is set up. Keep in mind there are civil defence regulations to office set up.
  • Computer Card for issuing Residence Permits (RP) for your new hires.

    The computer card is issued by the immigration. The Computer Card records the name and Id of the signing officer appointed by the company.

      A)   CR copy.
      B)   Trade License copy
      C)   IDs of all the shareholders in the company including the ids of the individuals who will be mentioned on the computer card.
      D)   You can also add to the computer card the employees you hired the same way will be followed.

The Government of Qatar provides incentives for investors

State of Qatar provides smart incentives to foreign investors, which include securing loans from Qatar Industrial Bank (QIB), no quantitative quotas on imports, no income tax on salaries of expatriates, no export duties, and no taxes on corporate profits for predetermined periods.

Comment

Leave a Reply

Comment

Name

Email