This article will help you understand the process of business setup in Qatar.
Business Setup in Qatar 2023
Qatar has one of the world’s highest GDP per capita and is considered a major business hub in the middle east. Accordingly, it actively seeks foreign investors, as outlined in its National Vision 2030, to create opportunities and growth across multiple sectors.
Business Setup in Qatar is considered a great option for several reasons, including:
- Robust economy: Qatar’s strong and diversified economy relies less on oil and gas than other Gulf countries. The country invests heavily in new industries, such as tourism, real estate, and financial services, making it an attractive destination for business investment.
- Strategic location: Qatar is located at the crossroads of Europe, Asia, and Africa, making it an ideal place for businesses looking to tap into the growing markets of the Middle East, South Asia, and beyond.
- Attractive incentives: The government of Qatar offers a range of attractive incentives for foreign investors, including tax exemptions, streamlined processes for setting up a business, and access to world-class infrastructure and facilities.
- Access to finance: Qatar has a well-developed banking sector and various business financing options, including loans, venture capital, and government grants.
- Supportive business environment: Qatar has a supportive business environment, with a stable political climate and a pro-business government committed to attracting foreign investment and promoting economic growth.
- Growing market: Qatar has a rapidly growing population and a strong consumer market.
Overall, Qatar offers a combination of strong economic fundamentals, attractive incentives, and a supportive business environment, making it an attractive destination for investors looking to start a business.
Limited Liability Company
Thanks to the Foreign Investment Law (Law No. 1 of 2019), a wide range of limited liability companies (LLC) can now be 100% foreign owned. Before this law, foreign investors could only invest in the Qatari economy provided that a Qatari national held most of the share capital. The provisions of the Foreign Investment Law mean that this is no longer required in most cases. Please get in touch with us so we can provide you with an up-to-date list of sectors in which full foreign ownership is possible.
The entire company formation process can be done electronically through a dedicated government portal for business formation. Occasionally, entrepreneurs can have some challenges in fulfilling all the requirements on the portal, therefore the use of an incorporation specialist is recommended.
Free Zones in Qatar
Qatar has two free zones for investors in the country. The airport free zone, Ras Bufontas, is connected to Doha’s Hamad International Airport, and Umm Al Houl, the seaport free zone, sits next to a massive deep seaport. The Qatar Free Zone Authority manages both free zones (QFZA).
Free zone company incorporation in Qatar is quick and straightforward. It provides foreign investors with many benefits, including full foreign company ownership, zero corporate income tax, import and export duties tax exemption, and full repatriation of capital and profits.
Incorporating a company starts by completing an online form via the QFZA website. One of their business development team reviews the information you provide and sends an official application form. Once your application is approved, you will get your business license, and you can start trading. You will need to open a local corporate bank account in Qatar for your business. This will allow you to manage your finances and process payments.
Businesses in High Demand in Qatar
With a booming economy, the economy of Qatar is ready for almost any type of new business. However, certain types of business are likely to be more fruitful.
- Construction and Engineering: Qatar invests heavily in infrastructure development, making construction and engineering businesses popular.
- Tourism, Events, and Hospitality: Qatar is emerging as a top tourist destination in the region, making tourism and hospitality businesses, such as hotels, resorts, and restaurants, high in demand.
- Healthcare: Qatar is investing heavily in healthcare and has a rapidly growing population, making healthcare businesses, such as hospitals, clinics, and pharmaceuticals, a popular choice for investors.
- Information and Communication Technology: Qatar has a well-developed ICT sector and invests heavily in digital transformation, making ICT businesses, such as software development, IT consulting, and e-commerce very lucrative.
- Real Estate: Qatar has a growing real estate market and is investing heavily in property development, making real estate businesses, such as real estate development, property management, and brokerage, a good choice.
- Retail: Qatar has a rapidly growing consumer market, making retail businesses, such as fashion, electronics, and food and beverage, a very popular sector for investors.
These are some of the most common types of businesses in Qatar, but there are many other opportunities for investors looking to start a business in Qatar. It’s essential to conduct detailed market research and seek the advice of a business or legal professional before starting a business in Qatar to ensure that you have a solid understanding of the local market and regulatory requirements.
Don’t forget to check out our guide for business setup in Saudi Arabia and try our Cost Calculator from the sidebar to get a free quote for your business setup.
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