In recent years, many investors have decided to open a new business in Qatar, more precisely in its capital city: Doha.
What are the reasons behind this trend? Without a doubt, the high quality of the infrastructures and the taxation system, which is one of the most advantageous in the world.
Moreover, the quality of life and Qatar’s future projects, such as the Qatar National Vision 2030, aim to make the country one of the most advanced in the world.
Qatar business overview
One of the most interesting characteristics of a country like Qatar is that it is a world leader in terms of innovation. Just think of Doha City, which like Dubai wants to achieve the highest level of innovation and technological efficiency.
The economy is very dynamic, and new businesses are encouraged by entities such as the Qatar Financial Centre, which works to bring promising new investors into the country.
Of course, opening a new business in a region with a totally different culture can be very complicated and risky, but having the support of similar authorities can only help.
A small tip would be to research the industry you want to open, and remember to select the right region for your business. For example, gas is very popular, but the economy has been diversified lately to attract more investment.
Some of the most popular sectors in recent years are healthcare, education, technology and tourism. However, agriculture, consulting and sports have also taken over, alongside businesses related to media and online content creation.
What does it take to open a new business in Qatar?
If you are coming from abroad, you will need an agent to guide you through each step of the process. If local, you will have a better chance of your company being accepted by the Ministry of Commerce and Industry (MoCI), which will have to issue a commercial registration.
Each contract must be drawn up in Arabic, with an English translation to certify its internationality.
As far as economic requirements are concerned, companies formed in cities such as Doha will be LLCs, i. e. private limited liability companies. The minimum capital is 200,000 QAR, equal to $55,000.
There will have to be two shareholders, and they will have to own up to 49% of the share capital, while Qatari partners will be entitled to 51%. In some cases, however, investors may be entitled to hold up to 100% of their share capital, if the business is compatible with government requests.
We have already seen how to open a business in Dubai, while today we have discovered the minimum requirements to open a business in cities like Doha, in the heart of Qatar.
Opening a business in Dubai may be a bit easier, but depending on the sector of interest a city like Doha could offer many more possibilities for growth and development.
It will be up to you to decide which city may be the best. Remember that, for any official information regarding applications for Doha and Qatar, you can visit the official websites of MoCI and Hukoomi, the Qatar e-Government.