Qatar is one of the leading economic countries in the world. It has the highest GDP per capita. The corporate tax rate of Qatar is comparatively lower than other countries i.e.10 %. Even in some specific areas of business, the tax is free. These are some of the main reason why most of the foreign investors want to set up business in the country. You may think business registration in Qatar is complicated, but actually, it’s not. The appropriate guideline of S & F Consulting Firm will ease the process of company registration in Qatar. The necessary steps of company registration in Qatar describe below.
How do I set up a company in Qatar?
Registration with the Qatar Chamber of Commerce
FORM of commercial registration.
ID card copies of company owner, shareholders or partners.
General manager ID card copy.
Certificate of commercial registration.
Authentic Certificate of Incorporation of the foreign companies.
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Can foreigners own business in Qatar?
Doing business in Qatar through a local entity
Foreigners can register a wholly foreign-owned company in Qatar only i) in specific industries listed in the Qatar Foreign Investment Law of 2010 and ii) after receiving approval from the Ministry of Business and Trade.
The first steps of establishing a company require a trade name search. Choosing a unique name of your company or business is essential. It is necessary to conduct research and plan well before selecting the name. However, the availability and booking of a trade name can be done through the Qatar government website- www.moci.gov.qa
he second step of establishing a company in Qatar is to open a bank account. To set up a foreign-owned business, you must obtain a letter from the Ministry of Commerce and Industry. The letter will be addressing the permission of opening a bank account in Qatar. The account will be activated as soon as the amount corresponding to the capital of the company is deposited. It takes around 1 to 2 business class days to activate your bank account.
Once the bank account is opened, the foreign owned-company has to get an approval on the Articles of Association. This approval can be received from the Ministry of Business and trade. It takes just one day to complete the process. However, you need to collect the application form of Article of Association from the Ministry of Business and Trade office.
It is necessary to fill up the FORM of AoA with required information’s –Include the name of the company–
Include the address of company’s headquarters.
Include terms and purpose of company.
Share capital and description of actions in kind.
Restrictions on the transfer of shares (only for companies).
Names, nationalities and place of residence of shareholders (only for companies).
Methods of distribution of losses and profits between the partners.
The names of the people who run the business.
Depending on the type of business you may need some additional documents to incorporate a business legally. In this situation, the company will have to provide provisional documents. This is largely in the case of commercial activities in which the company may need to obtain a specific business license for a given business. For example, if foreign investment is made in the industrial sector, a license is required for the industrial project. However, the necessary license can be requested from the Ministry of Energy and Industry.Disclaimer-This channel DOST NOT promotes or encourages an illegal activities and all content provided by this channel is meant for EDUCATIONAL PURPOSE only
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