How to Set Up a Company in Qatar Without Violating the Ethics?by Saniya Zeenat Writer
Over the past couple of years, Qatar has drastically transformed into a vivid Arab country that is comprised of state-of-the-art malls, luxurious hotels, well-built infrastructure and various bigger things. With these advantages alongside a quality standard of living, it has become an ideal hub for setting up businesses.
Establishing a business in this Arab country can seem to be a confusing, extensive and arduous task. Similar to other countries, this has its own specific rules and requirements that covers legal, financial and tax matters. If you aren’t aware of the entire procedure of company formation in Qatar, then appointing a service agent could be an excellent option to take legal advice and streamline your operations.
Here are some necessary steps that you can follow to set up a business in Qatar: -
- Company Name
The primary requirement to establish a company is trade name search. Selecting the unique company name is vital to conduct market research and plan well before going any further. You can check the availability and book the trade name through the Qatar government site. Remember, the name should be unique and shouldn’t violate public ethics.
- Open a Bank
To establish a foreign-owned business, you need to attain a letter from the Ministry of Commerce and Industry. And the letter will be addressing the approval of opening a bank account in this country. It usually takes 1-2 business days to activate your account.
- Articles of
Once your bank account is activated, you need to get an approval on the Articles of Association. It can be received from the Ministry of Business and Trade. You need to add the necessary information in the form such as the address of the company’s headquarters, terms and purpose of the company, share capital, name of the company, nationality and so on. Also, you need to submit the additional documents to make your business legal authorised such as a license.
with the Qatar Chamber of Commerce
Even though many people overlook this process of registration as it isn’t mandatory. But registering your company with Qatar ‘Chamber of Commerce’ can be advantageous. To register, you need to fill an application that includes form of commercial registration, ID card copies of the company’s owner, certificate of commercial registration and authentic certificate of incorporation of the foreign companies.
- Company Seal
Another vital step of registration is to assure that the foreign entity has its company stamp in place. Private companies need to fabricate their seal or stamp on their own. The MBT will review whether the foreign company has its organisation stamp or not.
- Trade License
A trade license is important to carry out office space and business operations, so make sure to get it approved from the Ministry of Economy and Trade. To attain this license, you have to fill the form and submit the application available within the MEC site.
To start off with the company formation in Qatar, you need to be fully incorporate these steps and perform all the essential activities to run your business without violating public ethics. Depending on the type of business, the process of registration may vary. If you aren’t sure about the general and advance stages of company registration, it is good to let a professional handle all the tasks on your behalf to avoid potential damages or disputes.
Created on May 8th 2020 04:33. Viewed 166 times.