About Qatar
Qatar is one of the rapidly growing economies in the world with its high per capita income and largest gas supply. Its new liberalized fiscal policies are based on a clear vision with its windows wide open to foreign investors. The state of Qatar has amended its policies permitting foreign investors to have 100% ownership in certain sectors including agriculture, industry, health, education, tourism, development and exploitation of natural resources etc.
A successful strategy for development, investment incentives, infrastructure, banking services, insurance policies, and political and social stability are the contributing factors in creating an excellent industrial climate for setting up a business in Qatar. These factors act as stimuli to setting up a company in Qatar. Here lies the right place and right opportunity to open a company in Qatar . It is considered as the best time to set up a business in Qatar.
A successful strategy for development, investment incentives, infrastructure, banking services, insurance policies, and political and social stability are the contributing factors in creating an excellent industrial climate for setting up a business in Qatar. These factors act as stimuli to setting up a company in Qatar. Here lies the right place and right opportunity to open a company in Qatar . It is considered as the best time to set up a business in Qatar.
Finding a Qatari Partner
In case you’re setting up an organization in Qatar you will require the support of a Qatari partner so as to get the fundamental licenses to work in the nation. Our broad system of Qatari business contacts implies we can place you in contact with the ideal individual to accomplice your organization.
How to Setup a Business in Qatar?
Qatar, being a booming economy in the world, welcomes foreign investors to set up companies in Qatar. The driving force behind every businessman is to cherish his dream to be a successful entrepreneur. Sound knowledge about the local business setup in Qatar and the latest economical laws of the country is a must to run a successful company anywhere.
People looking for commercial registration in Qatar should be aware of the structural options or categories of business in Qatar: a sole establishment, a sole proprietorship company and a limited liability company (LLC Qatar). The Limited Liability Company is the most common option in which the entity must have one or more Qatari national partner whose share in the company capital must not be less than 51%.
Effcon Sevices provides our assistance in the formation of Limited Liability Company Qatar , company in Qatar free Zone and a Branch of foreign company, etc. Our broad system of Qatari business and contact can place you in touch with the perfect accomplice for your organization.
If you are an aspiring entrepreneur wishing to start a business in Qatar, we assure our assistance in getting approvals from various government departments and municipality by following the specific requirements of the type of company you would like to launch in Qatar.
About Legal Structures of the Company.
Company Formation procedures is one of the most in demand services in Qatar thanks to the rapid development and industrialization. The process of commercial company registration is quite complex and requires the help of an expert guidance. At this stage, Effcon Sevices remains the top choice for the clients to get their legal documents processed for foreign company formation. The Company registration process refers to the legal registration with the Trade and Commerce Department. The registration process is different depending upon the type of business entity. Some of the common business entities are:
Limited Liability Company (WLL)
Public Shareholding Company
General Partnership Company
Limited Share Company
Joint Venture
QFC Company Registration
Free Zone Company Registration
How to Register a Company in Qatar
Effcon Sevices provides a systematic method for the clients and helps to overcome their problems related to documentation. It helps foreign companies in setting up their businesses in Qatar and helps them with their documentation process. The efficient and dedicated services at Effcon Sevices have made it one of the preferred agencies for entrepreneurs in opening business in Qatar.
Limited Liability Company Formation in Qatar
LLC Qatar (Limited Liability Company in Qatar) is the most commonly opted business entity in Qatar. It is a joint venture in which one or more Qatari persons or 100 percent Qatari-owned entities hold no less than 51% of the share capital. Such companies are allowed to operate in all sectors of the economy excluding commercial agencies and real estate.
Branches
The Foreign Investment Law contains provisions that, subject to an exemption from the Minister of Business & Trade, a branch of a foreign company can be registered in Qatar if that foreign company has a contract in Qatar performing a specific project that “facilitates the performance of a public service or utility”.
Companies enjoying such exemptions are not allowed to conduct any type of commercial activities that is not related to the specific contract for which it is registered. Foreign Companies registered under the category will be incorporated same like W.L.L and L.L.C, but the brand equity and ownership will remain with parent company. And the Branch office will be fully taxable unless it is granted a special exemption.
Commercial Agencies
This is yet another method of registering a company in Qatar in which an agent acts as the exclusive provider of services of the foreign principal or the exclusive seller of foreign produced goods in Qatar.
Representative Trade Offices
The Decision of the Ministry of Business and Trade No 142/2006 provides that foreign firms may open a representational office without a local partner. Though the representational office may obtain the Commercial Registration and employ staff in its own name, it only can operate as a ‘shop window’ to promote a foreign company in Qatar and introduce its products to Qatari companies.
General Partnership Company
This is one of the most basic forms of commercial agreements between two or more individuals for the purpose of commercial activities or setting up a company in Qatar.
Limited Share Partnership Company
The Limited Share Partnership Company may have at least one or more joint partners and at least four trustee shareholding partner. In this method of Company Registration or Company Formation in Qatar, the minimum share capital of the company is QR.1, 000,000.
Holding Company
A shareholding company or limited liability company is a company that has the financial and management control on other companies by owning at least 51% of that company. The minimum requirement to setup such companies in Qatar is QR.10 million.
Public Shareholding Company
The law recognizes different variants of the public shareholding company which is also known as a joint stock company or Qatari shareholding company including: 1- Public shareholding company-open. 2- Private or closed public shareholding company.
Joint Venture
The joint venture is a type of company setup comprised of two or more persons designed to carry out a project in Qatar. As per the law, it is an unincorporated entity without legal personality.
Real Estate
To undertake the business of property brokerage in Qatar, it is mandatory to acquire a special license from the Ministry of Business and Trade. Companies must list real estate brokerage as one of their activities.
Taxation of companies registered in Qatar
Law no. 11 and 9 of 1993 and 1989 respectively state that companies owned by foreign nationals must pay tax on their activities in Qatar. Companies owned by Qataris or GCC nationals need not pay tax, whereas foreign partners must pay tax of their share in the business.
Tax declarations have to be submitted within four months of the end of the financial year. Companies with profits exceeding QR.100, 000 have to submit audited financial statements certified by an accountant registered in Qatar to support their declaration. Tax rates in Qatar vary from 10% to 35% as per the profit made by the companies.
How Long Does It Take to Start Company Formation in Qatar
The time it takes to start company formation in Qatar vary as per the type and nature of your business and the service you need. However, some of the common steps that you need to follow are:
Choose a trade name and reserve it with the Ministry of Commerce and Industry
Obtain an initial approval from the Ministry of Commerce and Industry
Draft and sign the articles of association
Deposit the capital in a bank account
Register with the Commercial Registry and obtain a trade license
Register with the Tax Department and obtain a tax card
Register with the Chamber of Commerce and Industry
Register with the Ministry of Labor and Social Affairs and obtain a labor card
Register with the Ministry of Public Health and obtain a health card
Generally speaking, it may take anywhere from a few weeks to a few months to start company formation in Qatar. However, some services may take longer than others depending on the above steps.