Company formation in Qatar cannot be done without a good understanding of what the country's business zones and its legal requirements look like. Entrepreneurs will have a choice to decide to put up their company inside or outside of the free business zone as the two have different laws, policies, and compliance that it has to follow. Free business zone offers benefits such as full foreign ownership of shares, no corporate or income taxes, and unrestricted foreign currency transactions. The potential for maritime, technology, manufacturing, logistics, and petrochemical companies is quite attractive here.
Besides free business zone advantages, Qatar offers innumerable benefits to foreign entrepreneurs. Other business advantages in Qatar include no income tax on exports and a corporate tax rate below 10%. The skilled low-cost labor force and the developed corporate infrastructure also support business growth. Profits of foreign entrepreneurs are freely repatriated.
However, company registration in Qatar is pretty complex and lengthy in this respect because the companies will have to be registered with the MOCI and even contracts drawn up by the legal personnel in both Arabic and English. Also, the two owners are a must; at least 51% of them should be Qatari shareholders. Besides, at least QAR 200,000 share capital is required.
The list of documents needed to make the company operational: Commercial Residence (CR), trade license, computer card, opening a corporate bank account of a company, obtaining residency permits for foreign owners, and registering with tax authorities and Ministry of Labour.
Conclusion: Qatar is a free business zone. Therefore, this country makes an ideal choice for business ventures and foreign entrepreneurs who want to step in a company formation in Qatar.