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How to register a company in Qatar
How to register a company in Qatar
Foreign investors like to know how to register a company in Qatar, private limited company and/ or branch office open. Step One: Name Search-The initial step of enlisting a foreign organization in Qatar includes finding the suitable name for the organization. The name of the organization ought to be one of a kind and should not be in used or enrolled to any current organizations in Qatar. Names which are now trademarks at the Ministry of Business and Trade, generally known as MBT, are entirely precluded. With a specific end goal to locate the right and legitimate name, one need to physically visit the Commercial Registration segment of the MBT. Once there, they can without much of a hassle scan for the proposed names and check whether they are now taken or not. For discovering names, there is no administration expenses charged.
Step two: Temporary bank account- The second step of handling to enroll a foreign organization in Qatar is to open a bank account. The foreign entity needs to acquire a composed letter from the Ministry of Business and Trade. The letter ought to be routed to the bank in Qatar where the entity will be opening an account. This account should be made active once the substance stores the whole capital sum expected to begin the business. It will take just a single day and be finished with no extra charges.
Step three: Articles of Association- Once the bank account is opened, the foreign entity has to get an approval for Articles of Association. This approval is also received from the Ministry of Business and trade. Such articles should match the basic format given out by the MBT and it should include the following
- The name of the company along with the words “Limited Liability” if that is the type of company in question.
- The address of the head office.
- The objectives of the said company.
- The duration of the company.
- The initial capital that was used to start up the company and from where it was subscribed from.
- Name of all the shareholders and their nationalities along with their place of residence.
- The name of the manager of the company.
- The process in which the profit and loss will be shared.
- Capital structure.
It takes a maximum of one day to get it done and cost 1500 QR.
Step four: Provision for further documents – Based on the type of business activities that the foreign company is planning to do, there may be additional requirements to documents. In such a situation, the company will have to provide provisional documents. This is mostly in the case of commercial activities where the company may need to obtain a business license for that specific business. For instance, if the foreign investment is done in the Industrial sector then an Industrial Project License is required. This can be obtained from the Ministry of Energy and Industry.
Step five: Registration with the Qatar Chamber of Commerce- Quite often people tend to skip this part of a registration which leads to a whole set of problems later on. Step five of registering a foreign company in Qatar includes filing an application to the Qatar Chamber of Commerce. This application should be signed by the manager of the company in question. The registration form for this application can be found on the official website of the Qatar Chamber of Commerce. Along with the signature of the manager the application should also include the following things;
- Copies of authentication of all the partners, shareholders, and owners. In other words, any sort of identification cards of those people mentioned above.
- Copy of the identification card of the General Manager.
- Authentic and consularised Certificate of Incorporation of the foreign companies. The certificate of commercial registration should also be included.
Step six: Company Stamp-Another vital piece of registering an organization in Qatar is to guarantee that the foreign entity has their organization stamp arranged. This should be possible by means of any outsider manufacturing companies. It is planned and made by the outside proprietors. No government body is included in this procedure. The MBT will just check if the foreign company has their organization stamp prepared or not. It doesn’t cost more than 100 QR to make a company stamp.
Step Seven: Trade License-The last stride of registering a foreign company in Qatar includes applying for a trade permit. Without a trade or business permit the organization won’t have the capacity to work legitimately in Qatar and it is imperative to have this license for other lawful matters later on. The application for such a permit is made with the Ministry of Business and Trade. It normally takes around 1 working day to finish it and the administration charges shift from 200 QR to 10,000 QR. The charges are reliant on the measure of capital contributed for the business.