The WLL company formation in Qatar is said to be similar to that of the Limited Liability Company in Qatar. The With Limited Liability Company or simply the WLL company is one of the most popular business entities incorporated in Qatar by the foreigners. This article will demonstrate the initial steps and requirements that are mandatory for a WLL Company formation in Qatar.
In today’s date, Qatar is considered as one of the best places in the Middle East for doing business. The country itself brings in various lucrative investment policies, banking services, outstanding infrastructure, political and social stability all of which contribute to build up a potent business environment. As, English being the main business language in Qatar helps the foreign investors and other sole business owners easy to make business communication. Availability of both skilled and unskilled labor at low cost is considered to be the main cause of success of business owners and foreign investors for company formation in Qatar.
Unlike all other business companies in Qatar the Ministry of Economy and Commerce in Qatar is mainly responsible for the registration and regulation of the WLL Company. As mentioned above with Limited Liability company WLL is the most frequently incorporated business company in Qatar by the foreign investors. The foreign investor requires one or more Qatari partners who stands as the majority shareholders in most cases of WLL Company registration in Qatar. The Qatari partner holds 51% of the company share whereas the foreign investor owns the remaining 49% shares of the WLL company. However, a new law amended, known as The Foreign Investment Law No.13 of 2000 permits 100% foreign ownership of WLL company related to agriculture, manufacturing, health, education, and tourism business. It also offered the foreign investors a number of substantial incentives, including the freedom to repatriate all profits to the investor’s country of origin. A separated company profit share is arranged by the authorized figures of the company which does not reflect the shareholding agreements. All sort of legal procedures associated with WLL company formation in Qatar is conducted by Kenza.
# Features of With Limited Liability, WLL Company in Qatar
|Type||With Limited Liability Company (WLL)|
|Under Qatar law & regulation, foreign investors can own||100%|
|Minimum Company Share Capital||QR 200,000|
|Minimum Company Directors||One|
|Minimum Company Shareholders||Two|
|Memorandum & Articles of Association||Yes|
|Can the WLL business entity hire expatriate staff in Qatar||Yes|
|Qatar Resident Company Secretary Required||Yes|
|Opening of Corporate Bank Account||2 weeks|
|Annual Return||Must be filed|
|Annual Tax||Must be filed|
|Timeframe for Incorporation:||2 weeks|
|Access to Qatar double tax treaties||Yes|
There are many key advantages for the foreign investors regarding WLL company formation in Qatar. The first one to mention can be, unlike a Branch Office or Trade Representative Office in Qatar, the With Limited Liability, WLL company in Qatar can carry out and fulfil an unlimited number of contracts simultaneously.
# Top 3 Advantages of a With Limited Liability Company (WLL Business Company)
# Steps that are required to register a WLL company in Qatar by the foreign investors are mentioned below:
On the 1st of Feb 2010, Law Number 1 of 2010 was issued amending some key provisions of Law No 13 of 2000 regulating the investment of non-Qatari capital shares in key economic sectors. Law 1 of 2010 allows the foreign investors to consume 100 percent ownership regarding businesses such as consultancy services, IT services and products, sports, culture and entertainment as well as distribution services. Qatar and its government offer the foreign owners and their business entity all the advantages of a highly developed economy, infrastructure that resembles international standards, facilitating efficiency, quality and service.