How To Process Business Registration in Qatar
Posted on May 5th, 2014If you are planning to leverage the benefits of the excellent financial environment in Qatar for your business, you could not have chosen a better time. The development strategies adopted by the Qatar government has helped in building a financially robust and progressive economy. The government’s offer of incentives welcoming investments coupled with the stable political and social climate of the country have helped in creating an encouraging environment for your foray into its opportune economy. If you have already started thinking about how to start a business in Qatar and do not know how to start the ball rolling, take a look at some useful information on registering your company.
Company Registration in Qatar
An essential part of your preparations for starting a business in Qatar would be to plan for your company’s registration. You can refer the steps mentioned below to proceed with the registration process:
1. Submit an application to the Ministry of Business and Trade (hereinafter referred to as “MBT” or “Ministry”) issuing a request to reserve a unique name for your company. The approximate charge for reserving an Arabic name is QAR 1000 for 6 months and is free for 15 days. For a non-Arabic name you need to pay QAR 1,000. You can also submit your applications online.
2. Once your company’s name is approved, submit the Articles of Association document to the Ministry of Business and Trade. This is required to seek the Ministry’s approval on your company’s activities since they need to conform to the laws and regulations mandated by the Government of Qatar.
3. On approving the activities, the MBT will issue a Bank certificate. You will need this document to deposit a minimum start-up capital in a Qatari Bank where you have an account.
4. You will now need to register your company both with the Chamber of Commerce & Industry and Commercial Registry. The MBT however, facilitates the process of registration for entrepreneurs by enabling both procedures to be completed from a single counter.
5. Submit relevant documentation to obtain the trade and signage licenses from the relevant Municipality. The approximate fee for obtaining a trade license starts from QAR 3,020 depending on the scope of activity. The fee for obtaining a signage license is charged on a per square meter basis and is approximately QAR 50. You need to keep in mind that all documents proving the property to be of a commercial nature need to be presented because Trade licenses will be granted only for commercial properties (i.e. lease agreement of offices located in a commercial area).
6. Submit relevant documents at the Tax Department of the Ministry of Finance to register for taxes. This is a mandatory requirement and government can levy a penalty if companies do not comply with this requirement. All registrations for taxes must be completed within a month of the company’s establishment.
7. It is a good practice to design your company’s seal. You can think of it as well since you will require it to stamp all documents prior to sending it for government approval.
Registering your company in Qatar can be smooth if you follow these simple procedures without any unnecessary hassles. Call +974 4016 7020 to learn more!