Has Qatar Ever Been In The World Cup Advice For Starting A Business In Qatar

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Advice For Starting A Business In Qatar

Qatar is one of the most progressive countries in the Middle East, with a strong economy and many export opportunities. The Qatari government recognizes that with such a low-income population, workers and businesses from overseas are essential to the country’s growth – and with the 2022 World Cup being held there, there may never have been a better time to start a business in Qatar.

If you are thinking of starting a business in Qatar, there are a few things you need to know to make sure you meet the company regulations. When starting any business, you need to start the way you want to go, by following a plan and doing things right first.

Establishing a WLL Company in Qatar

The most common business entity formed in Qatar is the ‘With Limited Liability’ company, or WLL. By setting up a WLL in Qatar, your assets are protected, so if the business does not work and you end up declaring the company bankrupt, you will not suffer financially. This type of protection can be invaluable, helping you to proceed confidently without having to worry from the start about your liability.

Another important thing you will need to start your new business is a local sponsor. Unlike many countries, the process of setting up a company in Qatar requires you to have a Qatari partner who can support you and provide local information to help you along the way. The Qatari partner must own half of the business, making them the majority shareholder – although they are not required to invest any money in the company. The need for an agent in Qatar does not affect any business and there are consultants who can help you find the necessary agent if needed.

Some Essentials of Starting a Business in Qatar

In addition to your local agent, you must open a bank account with at least QAR 200,000 as part of your company in Qatar. You should also make sure you have the right visa for yourself and your family before starting your business in Qatar and you must register your business with the right service with the Qatar Chamber of Commerce. Other requirements include obtaining a business license and signs, preparing a company seal and registering with the tax office.

As part of forming your WLL company, you will need to draw up an ‘Articles of Association’ document with your Qatari sponsor – this must be signed in the presence of the managing director. This may seem like a long way to build a company, but all the elements are necessary to start your business in Qatar.

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