Holding a spiking and stable economy, the State of Qatar is one of the desirable corporate grounds among global business owners. Qatar offers a blend of opportunities and experience that has been boosting the foreign nationals to take a step forward towards business setup in Qatar.
Intending to provide a dedicated zone to each business industry, the Government has taken the initiatives of building dedicated zones to drive each segment. Doha, the capital city, is one of the top business destinations in the world and is widely chosen by the business investors to proceed ahead with an investment decision.
If you are planning to proceed ahead with business setup in Qatar, then you must know about the free zones in Qatar. This guide provides an outline regarding the Qatar Free Zones. However, let’s start with the business scenario in Qatar.
Business Scenario in Qatar
Today, incorporating a business in Qatar has been streamlined in a much simpler way. Business owners need to be clear regarding the business industry, hold the necessary documents to set up a business in Qatar.
According to Doing Business, Qatar holds the 77th rank out of 190 economies in the ease of doing business. Some of the reforms made last year in the country include Getting Electricity, Registering Property and Getting Credit.
Over recent years, the non-oil segment has been holding a strong point that has been contributing immensely in uplifting the economy. Here are the top 7 business opportunities in Qatar that are widely chosen by global investors.
Free Zones in Qatar
The dedicated free zones established by the Government of Qatar involves:
1.Qatar Financial Centre
Located in Doha, the Qatar Financial Centre stands as a financial and business centre that was established in the year 2005, intending to strengthen the financial scenario. The zone is built to enhance the financial segment, and to provide business opportunities to the business entities involved in the same. Over the years, the QFC has played a significant role in attracting foreign investments.
How to Start a Business in Qatar Financial Centre (QFC)?
The process of starting a business in the QFC involves the following steps:
- Registration of company formation
- Submission of the essential set of documents
- Obtain the respective permission from Qatar Regulatory Authority
- Obtain approvals from Companies Registration Office (CRO), in case of non-regulated activities
To get better clarity, here’s a guide on the Qatar Financial Centre Free Zone that will help you to understand the process in-depth.
2.Qatar Science and Technology Park
Dedicated to up-lift the technology industry, the QSTP was launched in the year 2009. Over the years, the location has turned up to a favourable business as it attracts global business investors, and has contributed the maximum to enhance the foreign investments.
How to Start a Business in Qatar Science and Technology Park (QTSP)?
The process of starting a business in Qatar Science Technology Park (QTSP) involves the following steps:
- Complete research and market analysis
- Draft a business plan
- Registration of the company registration
- Be handy with the company documents
- Obtain the respective approvals from the Government Authorities
To get better clarity, here’s a guide on Qatar Science and Technology Park (QSTP) Free Zone that will help you to understand the process in-depth.
Benefits of Starting a Business in Qatar Free Zones
Well, as you have got an idea regarding the existing free zones in Qatar, it will turn out to be beneficial if you are well-versed with the benefits of establishing a company in Qatar.
1.A Booming Business Destination
Like the other Middle Eastern business destinations the United Arab Emirates and Bahrain, Qatar also plays an essential role when it comes to grabbing the attention of foreign investors. With the tremendous growth of the business entities getting established, Qataris expected to hold a spiking GDP in the coming years.
The business investors hold the complete leverage to choose the business destinations from Mainland and Free Zone, based on the available investment and the number of shareholders.
Placed strategically in Western Asia, Qatar is an international gateway for the business owners and investors who are looking forward to expanding their business to the proximity of Bahrain, UAE, Saudi Arabia etc.
The Qatari Government has taken the necessary steps to build a strong economy by focusing on the non-oils segment as well as by improving the oil-segment as it stands as the backbone of the nation. Apart from that, the Qatar Government has taken necessary steps to transform the platform as the safest business jurisdiction, and pave out business opportunities to the business owners/ investors, and one such initiative is Qatar National Vision 2030.
Thus, you have seen the benefits that you will be deriving by starting a business in Qatar. The complete process might turn out to be complicated if you are not well-versed with the business setup process. It is recommended to proceed ahead with experienced business consultants.
Why to Avail Professional Services in Qatar?
Experts are well-equipped with the business setup in Qatar, and proceeding ahead with the business setup consultants can help the business owners with many possible aspects.
In the corporate world, time is considered as money, and wasting time can lead to severe loss. By outsourcing the company incorporation process to experts, you can focus on the building the best business strategy in the available time.
Apart from saving time, outsourcing the essentials helps one to carry out the task at a more rapid pace. The certified business consultants hold a broader network to complete the tasks quickly, which might turn out to be difficult for a business owner to continue the process in the same manner.
3.Proper Handling of Legal Documentation
Formation of a company demands error-free submission of company documents. A legal advisor will be able to guide you in a better way regarding the business incorporation process, and also obtain the required approvals at ease. In case if a business investor decides to proceed ahead alone, that might turn out to be a tough-call.
Proceeding ahead with no or half-knowledge might turn out to be a troublesome task, and might also lead the company formation process to abort. While, this is not the same when dealt with an experienced professional. It turns out to be worth paying an experienced business consultant as it is backed by quality service.
5.Acts as a Guide
Certified business consultants hold a high reputation in the market. The experience that they possess helps them to act as a guide and show the correct pathway. Experienced professionals also possess a strong market knowledge, which turns out to be beneficial for the business investors and owners to proceed ahead and implement the correct strategy at the right time.
6.Managing the Task Professionally
It serves out to be better if the business tasks are maintained professionally from the initial stage of starting a business. A business owner needs to plan out the business activities considering a holistic view. At the same time, it is difficult to streamline the initial process and keep a track accordingly. Holding an expert by your side will help you to manage the business tasks in a professional way and keep a complete track of the related business processes. Proceeding ahead with such a planned strategy helps you to maintain clear books of accounting and audit.
How Can We Help?
Business Setup Worldwide has been performing as one of the top business consultants in the UAE, which has been guiding numerous business owners to set up their business in multiple global locations. At BSW, our advisors are well-versed with the business setup in Qatar and can guide you through incorporating your business in a hassle-free way. If you hold any query, do have a word with our experts. Contact us today-we’d be glad to assist.