It is a popularly known fact that Qatar is one of the leading economies in the world. In addition to that, they also have the highest GDP per capita. For this reason, Qatar is largely considered to be one of the most lucrative corporate destinations in the world.
Apart from the rapidly growing economy, it is very diverse, culturally. Moreover, unlimited corporate growth opportunities make it an attractive business destination for innumerable companies all over the world. Also, ever since the 2022 FIFA World Cup, Qatar has established itself as a country of endless opportunities for both, local and international business owners.
Types of Company Options in Qatar
Essentially there are three primary company registrations in Qatar. These are listed as follows:
- Limited Liability Company LLC
This is one of the most basic business setup in Qatar. It requires no minimum share of capital. In addition to that, you need to have at least one and not more than 50 shareholders in this type of company. Moreover, the Qatari national has the advantage of 51% ownership of the company.
- Joint Liability Company
You can seamlessly register your company in Qatar at any time. In the case of a “Joint Liability Company”, you will need at least two or more partners to manage the company operations. They will all be obliged to the liabilities. Therefore, you are not entitled to transfer any company shares without all partners’ prior consent.
- Simple Commandite Companies
This company has two partners:
- Acting Partners – collectively responsible for the company’s asset obligations and other relevant operations
- Dormant/Sleeping Partners – invest the capital but are not responsible for any operational management or asset obligations
- Share Commandite Companies
Such a company can be formed with an investment as minimum as QAR 1,000,000. There are two kinds of partners in this setup as well:
- Active Partners – collectively liable for all the company’s assets, debts, and obligations
- Non-Active Partners – not liable for any debts but limited to the extent of investment during seamlessly registering the company
- Special Partnership Companies
This is an unregistered company that is not subject to any declaration procedures. All the partner’s rights and obligations are determined by the acting partners. In addition to that, each partner owns the invested share unless mentioned otherwise in the contract.
- Holding Companies
According to the Commercial Companies Law in the GCC region, you can seamlessly register your company in Qatar as a joint stock, either as a Shareholding Company or an LLC. The holding company owns 51% of the company ownership. Plus, the minimum share capital in holding companies is about QAR 10 million.
- Free Zone Companies
There are endless opportunities for entrepreneurs to set up businesses in Qatar. This dynamic country offers multiple free zones which include the following:
- Qatar Free Zone Authority
It is an independent entity that is dedicated to seamlessly registering your company in Qatar and streamlining its formation process. The perks of this zone include:
- 100 % foreign ownership
- Full capital repatriation
- Zero customs duty
- No personal income tax
- Ras Bufontas Airport Free Zone
This zone is located next to the Hamad International Airport. It is the home to a unique business ecosystem with the following key industries:
- IT and Technology
- Logistics
- Manufacturing
- Aviation
- Pharmaceuticals
- Umm Al Houl Sea Port Free Zone
You can find this zone adjacent to the Hamad Port. In addition to that, it has 15 direct shipping lines that connect more than 40 different ports. Some of the primary industries in this free zone include:
- Logistics
- Manufacturing
- Maritime Businesses
- Petrochemical
- Qatar Science and Technology Park (QTSP)
With 50+ companies, 22 startups, and a 5000+ workforce, QSTP is a free zone that hosts leading tech enterprises and rising ventures in Qatar. The permitted activities in the Qatar Science and Technology Park include:
- Technology
- Education or training
- IT consulting services
- Manufacturing
- Research and development.
Additionally, you can conduct these activities under the following three licenses:
- Regular license: Businesses are entitled to all the free zone benefits.
- Restricted license: Businesses entitled to limited free zone benefits
- Service license: Businesses are entitled to no free zone benefits.
Steps to seamlessly register your company in Qatar
Registering your business in the mainland and free zone can be divided into 8 stages
- Reservation of the Company Name
This is done in compliance with the rules of the country. The reservation of the name is typically done through the Ministry of Economy and Commerce.
- Draft the Memorandum of Association (MOA) or Articles of Association
This document is crucial as it outlines the relevant details of the company and its objectives and is usually done with the help of a legal advisor. This will be presented like a business plan study.
- MOA/AOA Attestation
Following the drafting process, the MOA or the articles of association are to be attested by the relevant authority under the Ministry of Justice.
- Trade License and Tax Certificate Application
Only once the MOA / AOA is verified, that the trade license and tax certificate be applied.
- Commercial Office Address
For all Mainland Companies, it is mandatory to have an address of a commercial office space against its name.
- Computer/ Establishment Card
Once the trade license is obtained, the company can apply for a computer card or an establishment card from the Ministry of Interior. This is a crucial step while trying to register a company in Qatar.
- The TIN number
Get (Tax Identification Number) TIN registered with the Public Revenue and Tax Authority
- The Company Seal
Last but not least, you must get the company to ensure that you have seamlessly registered your company in Qatar. It is official now.
In conclusion, let our professional consultants here at GCC Solutions help you explore all the opportunities to seamlessly register your company in Qatar. We’re here for you every step of the way. Our professional expertise and vast market experience make us the best. So, what are you waiting for? Get in touch today and take a step closer to getting your company registered in Qatar.
