A Detailed Explanation of How to Register Company in Qatar
After several economic reforms and hosting the FIFA World Cup 2022, Qatar is becoming a favoured business destination. Strategically located with access to Europe, the Middle East and Asia, companies in the country can easily reach these markets. If you want to register company in Qatar, here’s our guide to help you understand all its necessities.
With tax breaks, grants and training programs, Qatar is attracting international investments to its shore in droves. And with total company ownership in almost all sectors, foreign business owners are seizing several opportunities from the pro-business environment.
Process to Register Company in Qatar
The Company Name
As Arabic is the official language of Qatar, the law requires you to register an Arabic and English company name. Before registering, you must check its availability at the Commercial Registry. The department is within Qatar’s Ministry of Commerce and Industry (MOCI).
Power of Attorney
If you are unfamiliar with Qatar’s regulations, appointing a power of attorney to represent and authorise your company registration process is advisable.
Interim Bank Account
It is compulsory to have a business bank account as you register a company in Qatar. For this, you must get a letter from MOCI addressed to a bank in Doha to open an interim bank account. The bank must activate the account once your company deposits the share capital.
The Articles of Association
- If this is your first time drafting the Articles of Association, here’s what it should contain:
Company name, company structure, company physical office address, the company’s purpose and business activities, the share capital, names and necessary details for all shareholders and individuals operating the company. Qatar allows a minimum of two shareholders.
- MOCI also has a form that requires these details, and it is best to have a local expert in company registration in Qatar to assist you in these matters. Further, Qatari law requires Arabic documentation for company registration applications.
- If you prepare yours in your native language, get it translated by approved Qatar translators. Afterwards, it would help if you got the Ministry of Justice to notarise the Articles of Association.
Depositing the Share Capital
With the letter from MOCI and copies of valid identification of the shareholders, you may head to the bank and deposit the capital. The minimum share capital for an LLC is QAR 200,000.
Remember to have these ready when submitting the company registration application – Notarised & approved Articles of Association in Arabic, copies of shareholders identification, copies of general manager identification, complete application form, proof of share capital deposit and paying the fees.
With the single-window convenience of registering a company in Qatar, many prefer to submit online and download the certificate from the website.
Obtain Commercial License
Once you’ve received the company registration certificate, you must get a commercial license to operate your business in Qatar. You may apply for the commercial license from MOCI, which requires submitting a set of documents.
Local Expertise, Global Outlook
At 3E Accounting, we are always ready to assist with your requests to register a company in Qatar. Our local expertise in legal and initial business set-up will enable you to focus on your business network and opportunities in Qatar. Working together, we will allow your global business to flourish in Qatar.