Qatar, in the last few years, has shown incredible growth both economically and financially. More and more business people are now opting to set up their business in Qatar as the country is dedicated to encouraging foreign investment. Company formation in Qatar requires planning, knowledge, and commitment. An entrepreneur can start his business in Qatar through various business entities, one of them being a Public Shareholding Company. It is a company whose capital is divided into shares of equal value which are transferable.
Also known as the Joint Stock Company or a Qatari Shareholding Company, the Public Shareholding Company is established in accordance with Qatari Commercial Company law and by the Virtue Ministerial Decree. There are certain rules established by the Ministry if an individual decides to incorporate a Public Shareholding Company in Qatar. Generally, only Qataris may be shareholders, but there are 3 exceptions to this rule:
Qatar can be a great place to start a business but you need to do your homework and talk to an expert in the region who has in-depth knowledge on how to set up a business. They can give you a realistic perspective on setup up a business in the Gulf, after which you can start with all the steps required for company formation in Qatar. The steps required are as follows:
Check the availability of the trade name you want and register the trade name at the official company registry in Qatar. It is important to note that the desired name should have a meaning in Arabic.
A Public Shareholding Company should have a Memorandum and Articles of Association which contains the following information:
Once you have your trade name and Memorandum of Association, you can then submit them for your enterprise to be issued a CR. You can tell the officials regarding the business activities since every action has its own specific charges. So, tell your business activities, pay the respective fees for each of them, pay the processing fees, and have all your shareholders there in person to verify their identity, and you will be issued with the CR.
After receiving your CR, you need to get a trade license, in order to have an office space that’s approved by the MEC for conducting your business activities.
Once you get the trade license, you are good to start a business. The set-up process can take anywhere between a month to four months, depending on how quick you were able to assemble all of the paperwork and how busy the MEC is. So be aware that this will take time, and be patient. You can also take help of a consultant who is well aware of the regulations regarding the setup process and eventually saves your time. We at Business Setup Worldwide has a specialized team of professionals having extensive knowledge of all company formation rules and regulations in Qatar and can help you with the business setup in Qatar with ease in less time. Contact us for more information.