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| Qatar Incorporation | |||||||
Qatar incorporation is challenging, with many potential pitfalls for international entrepreneurs. Below are some of the principal considerations relating to Qatar incorporation:
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1.
| Qatar company incorporation can legally be completed within six weeks.
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2.
| Qatar incorporation requires a minimum of 2 shareholders and 1 director. The shareholders need to be a Qatar resident but the director does not have to a resident. In addition corporate directors are permitted.
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3.
| For a limited liability company (LLC), foreign investors are permitted 49% of the stake provided that there are one or more Qatari partners. It is also possible for foreigners to own up to 100% of a Qatari Company upon request in specialist sectors; agriculture, industry, health, education, tourism and development of natural resources.
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4.
| A register of shareholders and directors is available for public viewing at the Ministry of Economy and Commerce.
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5.
| The company name should be approved by the Ministry of Economy and Commerce in Doha. The signed Memorandum and Articles of Association in Arabic should be submitted to the Ministry of Economy and Commerce. Furthermore the minimum required capital should be deposited into a local Qatari bank.
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6.
| A Qatar LLC is required to submit an annual tax return. If annual profits exceed 100,000 QR (US$27,500), the declaration should be accompanied by audited financial statements prepared by an auditor registered in Qatar. The taxpayer should keep accounting records in Qatari Riyals unless previously agreed with the tax administration.
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7.
| A Qatar LLC is liable to pay corporate income tax on profits sourced in Qatar. The maximum corporation tax rate is 35% on income above 5,000,000 QR (US$1.37 million). Companies profiting less than 100,000 QR (US$27,500) are exempt from tax. There is no income tax on individual salaries.
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8.
| International entrepreneurs access the more than 40 double taxation treaties Qatar has signed with other countries, including France, the Netherlands, UK, Russia, Malaysia, Singapore, India and Mauritius.
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| 9. | For additional information on a Qatar business set up, purchase our Asia Business Setup book, contact email@healyconsultants.com or call us at (+65) 6735 0120. | ||||||
| Back to Qatar Company Formation page | |||||||
