The Qatar Science and Technology Park is located in Qatar’s Foundation Education City, alongside several major university campuses.
Qatar has long been considered a destination, for business investors, industrialists, and entrepreneurs. It offers an environment for commercial industries to thrive, both domestically and internationally.
To support the company formation in Qatar and the growth of industries the government has established the Qatar Science and Technology Park (QSTP) as a zone. This park is one of the zones in Qatar that attracts investors with a keen interest in this field.
Business Activities and Benefits in Qatar Science and Technology Park
In the Qatar Science Park businesses can engage in a range of activities including technology development, research and development manufacturing, education, technology-based services, and business development activities.
Setting up a company within the Qatar Technology Park comes with benefits. These include not requiring a shareholder for business setup exemption from all taxes within the free zone area no import/export duties on goods transacted within the park boundaries and no need for a local agent to conduct business transactions.
Like any country when starting a business venture, in Qatar Freezones it is important to adhere to legal laws. In this regard Qatar offers two zones; the Qatar Financial Centre and the Qatar Science and Technology Park.
Documents Required to Set up a Business in Qatar Science and Technology Park
To set up your business in Qatar Science and Technology Park, you need to submit certain documents. They are,
- Organizations background stating the mission, vision, and goal
- The implementation strategy
- The type of business entity and activities that are to be carried out
- A brief regarding the ownership agreements
- Space required for office setup
- Lease Term
Specific Information Regarding Each Activity:
- Overall description
- The description of the technology being used
- Collaborations with outside organizations
- Revenue generation model
- Information related to the target market
These are all the documents and briefs required. Make sure all information is accurate.
Process of Setting Up a Company in Qatar Science and Technology Park
Setting up a business, in QTSP is surprisingly simple. To establish a corporation there you'll need two shareholders and a minimum capital of US$55,000. Once you have all the documentation in place just follow the steps outlined below.
1. Describe Your Company
Start by providing a description of your company to the QSTP Authorities. This will help them understand your business and its potential contribution to the economy.
2. Demonstrate Your Activity
Since QTSP focuses on science and technology it's important to showcase that your primary investment is directed towards research and development. Present your business strategy accordingly.
3. Choose a Business Structure
Once your proposal is accepted you can opt for either a Limited Liability Company. Establish a Branch Office based on your company's requirements.
4. Obtain Your License
The next step involves obtaining a business license. You'll need to demonstrate both stability and technical competence to secure this license.
5. Secure Lease Agreement
After acquiring the business license it's essential to finalize the leasing agreement for your premises.
Why Choose Us?
At Business Setup Worldwide we are dedicated to providing our clients with services, throughout this process.
Our team comprises experts with knowledge of law and we are here to support you throughout the legal procedures. Our areas of expertise include Company Formation, Company Registration, IP services, Visa services, Company secretarial services, and Accounting and bookkeeping services. We will carefully assess your requirements. Provide tailored assistance accordingly. Feel free to reach out to us if you're interested, in establishing your business at Qatar Science and Technology Park. Our team is more than happy to lend a helping hand.
Can a foreigner own a business in Qatar?
Under Qatar law, 100% foreign ownership is strictly prohibited and most industries require approval from the Qatar Ministry of Business and Trade.
Is Qatar technologically advanced?
Qatar is emerging as a world leader in new technology adaptation, innovation, and system automation. The ICT sector is listed as a priority sector on the national agenda, accounting for 1.9 percent of GDP.
Why Qatar is best for business?
Qatar is one of the world's wealthiest countries, with the oil and natural gas industries driving economic growth. Qatar has a per capita GDP of up to $94,000, placing the country among the top five highest in the world.
How can I get business license in Qatar?
Local investors can apply for a new commercial licence through the Ministry of Commerce and Industry's Commercial Registration and Licenses Department
What is Qatar's main industry?
The backbone of Qatar's economy is oil and gas. Qatar is working to diversify its sources in order to reduce the country's reliance on these natural resources.