Qatar is the richest country in terms of per capita GDP. It has a strong oil and gas sectors, which accounts for 52% of the total nominal GDP. Based on this, registering a commercial firm in Qatar is a good idea for startups, as well as for already established businessmen.
Before starting a commercial activity in Qatar, it is worth determining the legal form of your company:
- a joint venture;
- 100% foreign firm;
- an enterprise in FZs;
- a public corporation;
- a representation;
The most popular are two legal forms: 100% foreign firm and a joint venture.
Those, who want to establish a foreign firm in Qatar, do not forget, that all operations performed by this type of company are limited by the laws of Qatar and require confirmation from the Ministry of Business and Trade of Qatar. Before starting a business in Qatar, we strongly recommend you to study, what activities are open to foreign investors. YB Case will provide legal assistance in calculating the initial needs for your business, individual legal advice on the business registration in Qatar and provide you with alternative solutions to the questions posed.
- in certain industry segments, in accordance with the Act on Foreign Investments;
- having received confirmation from the Ministry of Business and Trade;
We pay your attention: there is no official paid-up capital mentioned in the law, and the minimum required amount in practice is set by the Ministry of Business and Trade of Qatar.
Also do not forget:
- 100% foreign company has the right to apply for government contracts;
- firms must be entered into the public register of shareholders/directors.
When you plan to set up an enterprise in Qatar, pay attention to the tax system:
- a mandatory corporate tax is 10%.
Registering a joint venture in Qatar
This type of enterprise (often owned by foreigners) is used for a variety of commercial and industrial activities.
Non-residents, who cannot register a full-fledged foreign company in Qatar, have the opportunity to open a joint venture in Qatar.
After registering a joint venture in Qatar, equity may reach 49% without prior permission from the Ministry of Business and Trade. The corporate tax rate is 10%. Do not forget about the annual tax report.
Important: Qatar is a jurisdiction with a signed free trade agreement and the ability to open a Qatar multi-currency bank account.
For more information, contact YB Case experts. Our specialists provide legal advice on opening a corporate account in Qatar and legal support in setting up a company in Qatar remotely.