Setting up a company in Qatar
As one of the most lucrative business environments in the world, Qatar welcomes foreign investors to set up a company in the State to further economic expansion and growth. While the investment atmosphere is very encouraging for both locals and foreigners alike, it helps to have sound knowledge on the required documents and paperwork submissions that you need to fulfil in order to set up a company in Qatar.
While entrepreneurs who wish to apply for commercial registrations can set up a sole proprietorship in Qatar, the most common option for businessmen is the limited liability company (LLC Qatar). With this kind of business model, the business entity is required to have one or more Qatari national partners. The shares of these local partners must not be less than 51% when it comes to the company capital.
The Ministry of Business and Trade studies each case meticulously before registration approval. For instance, when it comes to expanding company operations via establishing a foreign branch, the Foreign Investment Law has certain provisions that indicate which types of companies can be considered official branches. The projects of the branch must be able to facilitate the performance of a utility or public service, for example. Moreover, the branch then is not allowed to conduct commercial activities that are unrelated to the contract of its registration.
A Joint Venture means that in this unincorporated entity, there are two or more individuals who are allowed to implement projects in Qatar. Other forms of companies include Commercial Agencies, wherein an agent may act as the exclusive provider of services when it comes to the foreign principal. The agent is then the exclusive seller of foreign produced goods in the country. On the other hand, Representative Trade Offices can be opened without a local partner according to the Decision of the Ministry of Business and Trade No 142/2006. However, it is only a ‘shop window’ that acts as an introduction to the promotion of the foreign products.
According to Law no. 11 and 9 of 1993 and 1989, taxes must be duly paid by companies owned by foreign nationals. Within four months of the end of the financial year, the respective tax declarations need to be submitted. If a company has profits that exceed QR.100, 000, the company must submit audited financial statements. These should be certified by an accountant for verification.
Having a trusted local business consultancy partner who can help you with forming an LLC, establishing a company in the free zones, or expanding your branch of the foreign company can alleviate the stress of required submissions. Afreno, for instance, takes pride in its solid relationships and reliable liaisons with various government agencies to help facilitate application processes, attestations of required paperwork, approvals of applications, and translations of documents.
Afreno is a Business Consultancy that draws on its long presence, over 10 years in fact, in the field of forming companies, while capitalizing on its impressive know-how at both local and international levels. This endeavor also extends to developing local partnerships and offering excellent opportunities in real estate.
Unlike any other Business Consultancy company in the State of Qatar, Afreno includes under its umbrella three closely-linked comprehensive services: business advice, legal negotiation and real estate possibilities. This means that any project, however complex, can be dealt with in all its aspects. Added to this is our wide range of reliable clients and trusted business contacts, plus our up to the minute awareness of what is going on in the markets, whether GCC or local. Your business venture will be backed by our in-depth knowledge, the valuable connections we have built over time, and our solid reputation, ensuring that you succeed quickly, whatever enterprise you are involved in. All this will be achieved with the minimum of stress; unsurprisingly Afreno has become the point of reference for anyone wishing to incorporate or grow their business in the local market.