As a booming economy, Qatar is a great location to set up your business. Many companies and individuals are expressing keen interest in Qatar as it offers great business prospects. Qatar is a member of the World Trade Organization (WTO) and several other bodies which make it one of the safest market to invest. Other prospects include the 2022 FIFA World Cup expected to take place in Qatar. All these factors contribute to making Qatar a sought-after destination for foreign investors.

The government has taken many initiatives for attracting companies and individuals from other countries to establish businesses in Qatar. For companies wanting to establish their commercial presence in Qatar there are many business mediums with the most common being the LLC (Limited Liability Company). An LLC must have one or more national partners whose share in the company capital must not be less than 51%. The parties’ profit share do not necessarily have to reflect their equity stake.

Steps to register your company in Qatar

There are certain steps that have to be followed to register a company in Qatar. The laws that govern these steps have been made to facilitate foreign investment in Qatar.The basic steps are:

1. Firstly, company name has to be reserved with the Ministry of Business and Trade.
2. Submit the Articles of Association to the Ministry of Business and Trade.
3. Open a bank account by depositing the minimum capital of 200,000 QAR.
4. Authenticating the articles of association by the Ministry of Justice
5. Registering the company with the Commercial Registry and the Chamber of Commerce and Industry.
6. Obtaining licenses such as Trade license and Signage license. The municipality usually sends inspectors to the contemplated premises of the company prior to granting the Trade license. The licenses approval will be granted only if the leased premises are designated as ‘commercial’ property.
7. Obtaining company ID card commonly known as Computer Card
8. Obtain a Tax Identification number (TIN). According to the tax law, every company must register with the Tax Department; otherwise it will be subject to a fine.

It takes approximately 2 to 3 weeks  to complete the business registration if the documents needed are available. Foreign investors can seek the help of professionals to help simplify the process of business registration in Qatar.

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