WHAT YOU NEED TO KNOW ABOUT STARTING A BUSINESS IN QATAR

Salvie Espineda
Business Development Manager
Jestate for Real Estate

Knowledge about the business culture
The business culture in Qatar is advancing as it becomes a hub for investment, and understanding the notions behind that is fundamental if you want to benefit from the advantaged environments that this dynamic country offers.  With one of the world’s fastest developing economies, Qatar is amidst an enormous economic boost, ahead of the 2022 FIFA World Cup, which has been evident over the last decade.

The high quality of infrastructure in Qatar, as well as the rise in entertainment, tourism and service facilities are fundamental to its economic growth, which will lead to the realisation of the Qatar National Vision 2030; it is truly a place for your business to flourish.  

Strong foreign ties of Qatar
Despite the halted blockade from neighbouring nations, Qatar continues to have a well established trading partnership with countries such as Japan, South Korea, India, China, Philippines, Singapore, Taiwan, United Kingdom, The United States and many more. In 2016, Japan was Qatar’s number one trading partner, accounting for 19 percent of all Qatar’s exports. Qatar continues to persevere with the support of its most precious values of handwork, real management and strong decision making.

All about private Limited Liability Company (LLC)

Developing a Limited Liability Company in Qatar is one of the convenient and highly preferred practises in Qatar. The ground rule in Qatar is that non-Qataris can invest only in a joint venture company incorporated in Qatar. The partners of the company must include one or more residents of Qatar or must have 100 percent Qatari-owned entities holding no less than 51 percent of the share capital.

The concept of a joint venture company with Qatar residents as partners is allowed in all sectors of the economy, excluding commercial agencies and real estate. The region has expanded itself to encourage different company incorporations in Qatar.

An advantage having a business in Qatar

Qatar is a highly advantageous place to conduct businesses, despite the ongoing pandemic. It has zero income taxes, primarily due to the rich natural gas reserves and a solid infrastructure for exporting commodities. Through a highly developed and extensive infrastructure system, Qatar has managed to develop its infrastructure alongside the development of its oil and gas wealth. This led to an extensive network of over 1,230 kilometres of roads leading to the country’s oil and industrial regions. Qatar also has four airports and deven ports and harbour, in addition to modern offices and luxurious places to live in such as West Bay, Pearl and Lusail where incredible apartments located on the upper floors of skyscrapers give magnificent views of the Arabian gulf. With its numerous competitive advantages, it has become an obvious choice for investors. Qatar’s wealth of natural resources, its strategic location and its well-developed industrial, financial and telecommunication sectors have all the ingredients for a successful business venture.

This article was published as part of the seventh edition of Property Finder Qatar’s Trends Report.