Over the most recent couple of years, Qatar has shown unimaginable development in both economy and infrastructure. More business people are currently picking to set up their business in Qatar as the nation is committed to empowering foreign investors.
Planning, information, and responsibility are essential in the process of Company formation in Qatar. A business person can begin his business in Qatar through different business elements, one of them being a Public Shareholding Company. It is an organization whose capital is separated into adaptable portions of equivalent worth.
Otherwise called the Joint Stock Company or a Qatari Shareholding Company, the Public Shareholding Company is set up as per Qatari Commercial Company law and by the Virtue Ministerial Decree. The Ministry sets up strict guidelines if an individual chooses to fuse a Public Shareholding Company in Qatar. For the most part, just Qataris might be investors. However, there are three exemptions for this standard:
Apart from a Public Shareholding company, there are also other types of business entities in Qatar. Read more about those on our website.
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 to have an office space approved by the MEC for conducting your business activities.
Once you get the trade license, you are good to start a business. However, the setup process can take anywhere between a month to four months, depending on how quickly you can assemble all of the paperwork and how busy the MEC is. So be aware that this will take time, and be patient.
It is always recommended to take the help of a consultant who is well aware of the regulations regarding the setup process for completing such tedious and burdensome legal processes.
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.