Business Setup in Qatar

One of the growing destinations in the Arabian Peninsula, the Kingdom of Qatar, holds a futuristic vision for the global business industries.

With Doha as its capital, Qatar is home to over 85 different nationalities and has also ranked as one of the top competitive economies in the world.

The dynamic environment of Qatar benefits business investors to step in and transform their business dream into reality.

Qatar's company registration has been consistently growing as the government has widened the business scope in the non-oil segments. So, today, right from tech to the manufacturing industry, every business can find its suitable ground in the nation.

If you are a business entrepreneur and is looking forward to investing in Qatar, this guide is a must-read for you.

Doing Business in Qatar

The business climate in Qatar turns out to be polite and patient. Over the years, the ground has been a good investment destination for millions of business minds who holds the dream of incorporating their own business.

The rapid breakout of COVID-19 has threatened the world, and Qatar has also faced the pandemics adverse effects that harmed most business industries. Although the gas industry dominates the economy and exports almost 80% of its production, today, there are numerous non-oil and gas segments that the Omani government is taking a call to proceed.

As per the study, the nation's GDP plummeted to -2.6% in 2020, which is projected to accelerate by 3.6% in 2022, creating substantial business opportunities for the business minds to proceed further.

Thus, taking a step right now related to business setup in Qatar turns out to be a profitable move. The budding entrepreneurs favour Qatar Free Zones to start with as it turns out to be economical.

Business Opportunities in Qatar

A few of the growing business opportunities in Qatar involves the following industries:

  • Interior décor business
  • Photography business
  • Digital marketing agency and IT business
  • Laundry service
  • Mechanical and electrical maintenance business
  • Fitness centre
  • Corn roasting business
  • Clothing business
  • Freelancing consultancy
  • E-commerce

Today, any business can grab a more vast audience worldwide with an online presence. Therefore, irrespective of any company that you choose, it is recommended to create an online presence.

Qatar Tax Scenario

Before you start a business, one must be obvious regarding the tax scenario of any country. Qatar stands as an active member of the GCC nations, and thus, every business unit is liable to pay 5%, and individuals are not responsible for paying income tax.

Dhareeba is an online tax filing and returns that connects the General Tax Authority and its partners. In addition, the platform helps in automatic tax generation by Qatari Tax Laws.

Any business unit that gets incorporated in Qatar has to comply with the taxation policies. This move enables the business to maintain proper accounting and bookkeeping records, which helps get a transparent audit process.

The Process of Company Registration in Qatar

Registering a company in Qatar involves a few steps that an investor has to follow, which includes:

  1. Prepare the Articles of Association (AOA) of the company.
  2. Come up with a unique trade name for the company, and get it approved by the commercial registration officer
  3. Get the Memorandum of Association (MOA) verified by the Companies Department or the commercial registration officer
  4. Filling out the commercial registration application at the Ministry of Economy and Commerce
  5. Subscribe at the Chamber of Commerce and Industry of Qatar
  6. Submit ID proofs of the shareholders and director of the company
  7. Obtain a commercial registration with the requested amendments from the commercial registration officer

Post incorporation, one needs to make sure to get a corporate bank account as it will help you to manage the business transactions at ease.

Here’s a guide on Why own an international bank account that will help you understand the concept and benefits you can derive by opening one.

Starting a business in any foreign land becomes complicated as an investor stands alien to the legal proceedings that are to be followed.

Clearing the process after understanding the proceedings turns out to be complicated and consumes a lot of time. Thus, the ideal way to sort the process is to proceed ahead with an expert.

To deal Dealing with corporate services is a bit complicated if one is not well-versed in legal proceedings.

Business Setup Worldwide| Your Business Guide

At Business Setup Worldwide, we have been dealing with business investors helping them to incorporate their business in a hassle-free way.

We assure you hassle-free process as our business advisors are well-versed with the entire process and can provide you with tailored solutions suiting your business needs.

To know more about taking the further step, feel free to have a word with our experts. Contact us today-we’d be glad to assist!