Essential Steps to Starting a Business in Qatar
Typically speaking to conduct business in Qatar it is necessary to register an organization and in most instances Non-Qatari nationals aren’t allowed to own more than 49% in a business.
The following three steps should be adopted when looking to start business in Qatar:
Have a great understanding of the region. Be geared up to undertake detailed research into the business sector you would like to function within.
Whatever your scenario the very best advice would be to take good professional advice to guide you by way of the labyrinth of legalities and procedures. The process for firm formation is complex and can take numerous months to complete.
Without a doubt the most crucial aspect while looking to setup a firm is to make sure that your local partner is the correct partner for your company and that you both understand what the requirements and requirements are from the ‘Partnership’
Company law in Qatar is comparable to that in western countries, in that businesses can be run as limited liability operations, private organizations or other forms of concern. The most typical form of setting up a business in Qatar is the Limited Liability Firm. The following are some of the requirements for a Limited Liability business Qatar:
The share capital of a Limited Liability Business starts at QR 200,000.
The Qatari partner need to have at least 51 % ownership. Exemption to this rule can occasionally be obtained.
The profit share of the partners doesn’t need to match the shareholding of the partners.
10% of every year’s net profits ought to be kept within an organization until the reserve stands at 50% of the share capital.
A Limited Liability Firm can not raise capital by public subscription and cannot problem freely transferable shares.
Shares may possibly only be transferred after they have very first been provided to the other shareholders, unless the other shareholders have agreed to waive their appropriate.
If you make sure that you follow the three steps above you must have the ability to join the many productive and thriving organistations that proceed to starting a business in Qatar.
Jane Ashford provides specialist advice on company formation in Qatar and she benefits from a great deal of expertise and know-how in setting up a Business in Qatar, as well as visa and licensing regulations. Jane has helped the development of over 50 Limited Liability Companies and Branch offices. For more information on how to get started on business Qatar please stop by Jane’s company internet site available at www.pro-partnership.com
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