Will The Us Qualify For The 2022 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 plenty of opportunities for expats. The Qatari government realizes that with such a low native population, foreign workers and businesses are vital to sustaining the country’s growth – and with the 2022 World Cup being held there, there has probably never been a better time to start a business in Qatar.

If you are considering taking the plunge and starting a business in Qatar, there are several things you need to know to ensure you meet company formation regulations. When you set up any business, you need to start as you mean to go on, by following protocol and doing things right in the first place.

Establishing a WLL Company In Qatar

The most common type of business formed in Qatar is a ‘Limited Liability’ company, or WLL. By establishing a WLL in Qatar, your personal assets are protected, so if the business does not work and you have to declare the company bankrupt, you will not suffer on a personal financial level. This type of protection can be invaluable, helping you to proceed confidentially without worrying from the outset about personal liability.

Another essential element you will need for your new business is a local sponsor. Unlike most countries, the process of forming companies in Qatar requires you to have a Qatari partner who will sponsor your company and provide important local information to help you along the way. This Qatari sponsor must own over half of the business, making them the majority shareholder – although they are not necessarily required to invest any capital in the company. The need for a sponsor in Qatar does not apply to all types of business and there are consultancies on who can help you secure that essential sponsor if required.

Other Important Elements Of Starting A Business In Qatar

In addition to a local sponsor, you will need to open a bank account with at least QAR 200,000 as part of forming your company in Qatar. You will also need to ensure that you have the correct visa for yourself and your family before you start your business in Qatar and you must register your business with the appropriate ministry and the Qatar Chamber of Commerce. Other requirements include obtaining a business license and signage, arranging a company seal and registering with the tax office.

As part of your WLL company formation, you will need to develop an ‘Articles of Association’ document with your local Qatari sponsor – this must be signed in the presence of an officer. This might seem like a long-winded company formation process, but every item is essential to starting your business in Qatar.

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