Details on Company registration in Qatar

Posted by sfconsultingfirm on May 13th, 2019

The company has various industry insights for Qatar registration. Qatar skilled workers have a large population. With this, labor costs are relatively inexpensive, and the method of recruitment is simple. In Qatar the main language of English, more than 60% of the population speaks with it; So, being a major business language, communicating with employees, customers and suppliers cannot be a problem for foreign investors. An additional advantage, which is why the country is popular for foreign workers, it is true that deduction wages and wages are required from income or social security.

Qatar's only industrial zone, Qatar Science and Technology Park (QSTP). These types of commercial entities are completely foreign-owned, tax-exempt from the law, and workers and business owners are allowed to get a residence visa. Such a commercial entity does not require Qatar's national partner, and it is not required to hire employees; However, it is mandatory to hire free zone offices. To include a QSTP company, the entity will contribute to the progress of science, technology or research and development of activity. It is also mandatory that those who want to start QSTP business send a complete description of the proposed business idea and its research plans. QSTP will be evaluated to determine if the information meets the applicable technical base criteria. In order to start a business QTSP applicants must prove that a significant amount of financial investment in the company will not be dedicated to research and development. All QTSP limited liability companies must have at least two shareholders of the minimum capital of $ 55,000.

Commercial entities cannot be fully owned by foreigners, including: limited liability company, a company Free Zone, a company of professional services in Qatar and foreign branches and foreign office representatives. A limited liability company most commonly chosen business entity in Qatar. It makes sense to be one of the directors of this type of business entity and two shareholders at least (a shareholder and / or a national head of Qatar to be a visa sponsor). Free Zone companies include technology companies and financial services companies. This entity is legally excluded from paying tax. Generally, only large multinational companies can form free zone agencies. Qatar's professional service companies, such as industry and legal counseling, IT consulting and management, and marketing consultancy. Nominated as a local service agent for sponsors of residential service visas who will be a Qatari National. This service agent is receiving the main function license, visa and job card. A foreign branch is primarily a branch of a foreign company registered in Qatar because it completes a specific project through an official agreement. Engineering, tourism, construction, industrial or agricultural: One should focus on one of the areas below the project. A representative office is 100% foreign-owned and controlled and therefore, prohibited from direct sale in Qatar. Such commercial entities can participate in the promotion of business and parent organizations and market research. It is compulsory to hire rental agents or distributors to sell products and provide services to local agencies.

A method of compulsory arbitration controversy that foreign businessmen use throughout Qatar. The International Arbitration Center Qatar, QFC Court and Europe and North America have different arbitration centers: There are three positions for its arbitration with Qatar's dispute. A company that has a limited liability company must file an annual tax return. The tax return must be accompanied by an audited financial statement if the annual income is more than QR100,000,000. The second requirement that the company's annual statement of accounting and the address of the company will be confirmed as definite details of all the directors, principal place of business, and shareholders and their Interest details. Since all business activities in Qatar accept government approval, permits and licenses, there is no need to register some products with Gov.

Before registering a Qatar company, you need to understand various accounting and tax laws. Qatar's limited liability company will have to cancel 10% of its net profit until the reserve amount is 50% of the share capital. All import products require customs clearance, after payment of customs duty, it can only be completed which is usually 5%. Tools can be imported from customs duty, which focuses on specific projects except for primary and semi-finished materials that are not available in Qatar. The country can stop taxes on some unreliable payments, including: 5% on royalty and technical fees, 7% on interest, commission, brokerage fees and directors ?? Its fees. During Qatar's first accounting, six to eight months can take place. Companies will submit their financial statements in the last four months of their financial details. Includes a majority double tax agreement between Bangladesh, India, France, Malaysia, Singapore, Tunisia, Senegal, Romania and Russia.

There are a number of challenges in registering a Qatar company, such as employment, visas, travel and expenses. The need for a large number of companies to hire Qatar's national shareholders, who receive the minimum annual fee of $ 40,000. Finding adequate Qatar workers is a challenge that can successfully fulfill certain job positions; Thus, recruitment of foreign workers is the growth of foreign companies. In addition, it has been learned that the government supports companies that will hire Qatari citizens in opposition to foreign workers. For this reason, a greater majority of company visas and licenses are sponsored by Qatari citizens, there are indirect control over their business. Foreign investors willing to register the company are bound to travel to Qatar to register the company and open a corporate bank account. As Qatar has high demand and it is a small country, livelihood and business expansion is growing rapidly. During the formation of a company registered in Qatar, some public fees, office rent after the formation of the company, the need for staff recruitment after the formation of the company and costly costly due to the high value shares of 55,000 USD. To complete the company structure. Along with this, foreign companies increase the need for outsourcing staff.