Company formation in Qatar was just made easy with Helpline Groups…!!! We are the top foreign company registration service providers in Qatar who can help you with all the formalities you need to create a company. Right from idea creation to completion, we help you with everything. Want to learn more? Read on.
The Qatar Business Zone is one prominent feature of the business environment in Qatar. Before choosing where to launch a business in Qatar, entrepreneurs must understand the differences between setting up shop within or outside the free business zone.
The rules and regulations differ considerably between the two zones for starting a business. There are many advantages to operating in a free trade zone, including full foreign ownership of shares, no restrictions on the use of foreign currencies, and the absence of income tax, corporate tax, and foreign trade taxes. The free business zone is the desired location for most entrepreneurs looking for company formation in Qatar. Many industries such as technology, logistics, maritime, manufacturing, and even petrochemical companies are located in this area.
Aside from having access to the free business zone, there are many advantages to establishing a business in Qatar. Here are some of the many benefits of foreign company registration in Qatar:
- Qatar has a highly developed corporate infrastructure and a skilled but low-cost labor force.
- In Qatar, there is no income tax on wages.
- The income from exports is not taxed.
- The rate of corporate taxes in Qatar is under 10%.
- Foreign entrepreneurs are allowed to send all of their profits home.
There are helpful financial services out there that are aware of the requirements of business owners.
Here are some of the requirements for foreign company registration in Qatar. Bear in mind, that the procedure can be quite long and tedious. A business owner must first fulfill a number of conditions set forth by the Commercial Companies Law in order to conduct business in Qatar. These specifications include:
- You must have a Qatari partner
- You must commercially register under The Ministry of Commerce and Industry
- You must use both Arabic and English in legal contracts.
- A QAR 200,000 minimum share capital is required.
- A minimum of two or more owners, with 51% of the corporate must be owned by Qatari stockholders.
Just like any other country, Qatar offers you various business structures and companies which are as follows:
- General partnership company
- Limited share partnership company
- Joint partnership company
- Public shareholding company
- Branch office of a foreign company
- Representative trade office
- Holding company
- Joint venture
- Limited liability company
- Real estate
- Commercial agency
Due to the extensive documentation foreign company registration in Qatar can take a while. Not only must the documentation be thorough, but it must also be sent to Qatar’s Ministry of Trade and Commerce within the said deadline. You need three important documents at the outset for a company to register in Qatar. They include as follows:
- The Ministry of Economics and Commerce issues a document known as a commercial residence or CR. It contains details of the legitimacy, name, and ownership of a company. It is easy to obtain once one has the trade name and the articles of incorporation that contains details of every shareholder and their shares.
- Depending on the kind of business structure a company has selected, you may require a trade license. You need to obtain a trade license to have an office space that has been approved by the MEC. The business must submit the application form, copies of identification from all relevant business authorities, the certificate of registration, the articles of incorporation, photographs of the office building and office space from the outside and inside, the building completion certificate, the owner’s ID, and the rental agreement in order to obtain a trade license.
- A document identifying the company’s signing authorization is known as a computer card. You must include the details of the Qatari members on the computer card.
Also, a business must obtain the proper license, an immigration certificate if the proprietors are foreign nationals, and any other necessary licenses before operations may start. Also, the company owner needs a certificate of experience.
There are a few other prerequisites for company registration in Qatar in addition to these permits. They consist of:
- Permits for residence for foreign entrepreneurs.
- A legitimate bank account in the company’s name with any corporate bank in Qatar.
- Firm employee registration with the Ministry of Labor.
- Registering with the national revenue and tax offices.
You must also provide:
- An approved power of attorney to a Qatari manager or head
- Two copies of service agent agreements and commercial registrations
- Two copies of the contract signed by the foreign company and the Qatari government
- Two copies of the memorandum of the certificate or Article of Association of the international business, and
- An application for the establishment of a foreign company in Qatar
All the above documents must be submitted to the Ministry of Economy and Commerce. Most importantly, before submission, all of these documents must be translated into Arabic.
The process of company formation in Qatar involves a number of charges at various stages. For instance:
- The business must have a minimum capital of QAR 200,000.
- When applying for a trading name, the business must pay an additional QAR 1,000 if the chosen name does not mean what it means in Arabic.
- The annual cost of a commercial residence might range from QAR 1,500 to QAR 7,000.
- About QAR 30,000 is spent on incorporation expenses in the first year.
- From the second year on, the annual company costs exceed QAR 5,000.
- The typical charge for a Qatar engagement exceeds QAR 100,000 and covers the creation of the business, the opening of a bank account, the office location, and the director’s residency.
Why choose Helpline Group?
Don’t be discouraged if company formation in Qatar seems difficult or overwhelming. Such tasks can be outsourced to many company registration services like Helpline Group which makes the entire process seem simple. But that’s not all. Once you have registered your foreign company, we can also assist you with all of your EOR and POR needs to ensure the efficient operation of your business.
One can argue that the real challenge begins after a company is set up. With Helpline Group, you can create efficient and advantageous employee benefit programs, maintain personnel data, manage payrolls, and assure regulatory legislation compliance with the aid of Helpline Group. We are a one-stop solution for all of your commercial needs in Qatar.
If you are looking for business registration for foreigners in Qatar, then we are there for you. Call us today at (+974) – 70658000 or (+974) – 44271100 for a free consultation.