In order to register a commercial firm in Qatar, you will need the help of IQD Consulting specialists. Our team will tell you, how to open a corporate account in Qatar, advise on business matters in this jurisdiction.
First of all, it is necessary to choose the appropriate legal form for your future organization:
- An LLC;
- A PSC;
- A Private JSC;
- A Partnership limited by shares;
In most cases, entrepreneurs want to register an LLC in Qatar. The Foreign Investment Law (No. 1 of 2019 - “Investment of non-Qatari Capital in Economic Activity”) states, that non-Qatari investors can invest only if they register a joint venture in Qatar, 51% of the share capital of such an enterprise belongs to 1 and more local residents.
The state economy provides an opportunity for such joint ventures with Qatari partners in all areas except banks, insurance companies, and real estate organizations. The distribution of profits can be regulated otherwise in the agreement between foreign shareholders and their Qatari partners before the company is registered. Previously, the minimum share capital for registering an LLC in Qatar was 200,000 QAR (about 49,000 EUR), but in accordance with the new Law on Companies No. 11 of 2015, there is currently no minimum share capital for a company in the form of an LLC.
- A PSC - 10,000,000 QAR (about 2,440,000 EUR);
- A private JSC - 2,000,000 QAR (about 490,000 euros);
- A partnership limited by shares - 1 000 000 QAR (about 244 000 EUR);
- A submission of application form to the Ministry of Economy and Trade for registering a new company in Qatar;
- Opening a bank account in Qatar with a capital in accordance with the legal form;
- Approval of the company name, approval of the charter of the company;
- The authentication of the memorandum and articles of association of the company in the Ministry of Justice;
- Approval of individual activities (if necessary);
- Registration in the commercial register of the Ministry of Economy and Trade and the Qatar Chamber of Commerce and Industry.
If you want to set up a company in Qatar and to open an account in Qatar, then our specialists will provide assistance at each stage of this procedure. Details on the contacts indicated on our website.
Where to open a corporate account in Qatar?
Services to corporate business in Qatar are provided by HSBC, Doha Bank, Standard Chartered, IBQ Bank, QDB, Citibank and others (a total of 16 commercial banks and branches). Currency is Qatari rial (QAR). Internet banking is used, which makes it possible to open an account in Qatar remotely. A crowdfunding is possible in this jurisdiction.