This guide highlights all the essentials that are required for a business investor to know before proceeding towards setting up a business in Qatar. If you are severe regarding incorporating your business in the Kingdom of Qatar, then you are in the right place. Let’s start by understanding the economic outlook of the region.
Qatar Economic Outlook
Backed by petroleum and natural gas, Qatar is one of the emerging grounds that stands as the world’s third-largest gas reserve. Over the years, the Qatari government has been eyeing to leverage the non-oil segment to enhance the nation’s revenue. By the end of 2021, the Qatar Economic Growth is projected to hold a growth count of 2.5%.
So, what you will choose for startup?
The region of Qatar welcomes the newbies as well as the experienced business players in the market. Some of the booming business opportunities that are prevailing in Qatar are:
- Manufacturing etc.
Apart from the business mentioned above opportunities, here’s more on the top business opportunities in Qatar.
Steps of business registration in Qatar
Starting a business in Qatar involves numerous steps that an investor needs to take care of. Some of the essential steps required are:
1. Understanding Your Business Needs
Understanding the business activity is the first and foremost task of any business. The business owners need to be clear regarding the target market and the business activities that need to be carried out effectively.
2. Choosing a Strategic Location
Qatar provides multiple flexibilities to the business investors to proceed ahead with the location options. Several free zones have been established to focus on dedicated business sectors. Make sure to select the best business location after analyzing the pros and cons of the same.
3. Select a Business Name
This stands as one of the crucial and essential tasks at the same time. While choosing a trading name in Qatar, the investors need to keep an eye on the following:
- The selected business name shouldn’t be the same as competitors
- The trade name shouldn’t sound offensive
- It shouldn’t include the name of God
4. Get the Required Documents and Proceed towards Commercial Registration
It is important to note that documentation plays a crucial role when it comes to the business setup in Qatar. To complete the business registration process, an investor needs to provide a set of stated documents which includes:
- Duly filled company application form
- Drafted Memorandum and Articles of Association
- Copy of the Business Plan
- Identity and address proof of the shareholder(s)
- Address of the commercial premise
All the documents submitted by the investor undergo an in-depth verification process by the Qatar Company Registry, which involves the document attestation process in Qatar.
5. Open a Bank Account
A bank account is an essential part of business incorporation in Qatar. Holding a corporate bank account helps the customers and the business owners/ investors to carry out business transactions in a smooth way. Also, it helps the owners to distinguish personal and professional finances. Here’s a guide on how to open a corporate bank account in Qatar, which will help you to understand every step in a detailed way.
6. Hire the Manpower
Selecting the right candidate for the right job is very important for any business. It is to be kept in mind that once the company incorporation tasks get done, it requires an adequate number of people to manage it. An employer needs to onboard the employees by providing an employee visa. Here’s a guide on proceeding towards the visa services in Qatar.
7. Proceed with Post Incorporation Process
Once the company gets established, maintaining the same is a big challenge. One of the easiest ways to maintain it safely is to implement the post-incorporation services that are necessary for any business for performing smooth operations. Some of the services include the following:
- Accounting and Bookkeeping
- Tax Services
- Intellectual Property Services etc.
Implementing these fundamentals will help you to keep a track on your business growth, and take the necessary steps accordingly.
Why Invest in Qatar?
Investment in Qatar is one of the profitable moves that any business investor can make. It is one of the easiest ways to make the user move or available business finance and leverage business profits. Some of the core reasons for investing in Qatar include:
- A business-focused and growing economy
- Huge investment opportunities
- Easily accessible to other GCC nations
- Suitable for newbies as well as experienced business professionals
Here’s a guide on why invest in Qatar, which will help you to understand the investment scenario more clearly.