Guidelines for LLC company formation in Qatar
- The required share capital for WLL company formation in Qatar is QAR 20,000/- minimum
- The WLL company in Qatar should possess the required flexibility to undertake unlimited contracts.
- LBefore obtaining the Trade License, a business must possess an office space either owned or on rent.
- The applicable corporate tax for the business will be at the rate of 10%.
Now that you have understood the guidelines for WLL company formation in Qatar, let us look at the factors why businesses should opt for a WLL company formation in Qatar.
Limited Liability Company formation in Qatar
This is one of the most popular business setup options for foreign investors who wish to set up a company in Qatar. The minimum number of participants required for an LLC set up is 2 and can include a maximum of 50 participants, with a minimum of one local shareholder. This kind of LLC business entity is formed as per the 51%- 49% partnership wherein the foreign shareholders or partners get the chance to own up to 49% stake in the LLC company. In contrast, the local Qatari shareholders need to hold the remaining 51% of the stake. This Is the main rule for all kinds of businesses that want to form an LLC company in Qatar. The majority stake should be held by a Qatari national to open a successful business in Qatar.
Your commercial registration is the document you need first to obtain from The Ministry of Economy and Commerce. The document will buy assets of the company, accept invoices as payments, and open corporate bank accounts, among others. Therefore, to get the commercial registration certificate, you need to follow the following procedures:
Obtain the Trade Name: The first thing you need to do is get a unique Trade Name for your business. Also, if the desired Trade Name does not have significance in the Arabic language, you would need to pay QAR 1,000 as an extra expense.
AOA or Articles of Association should be drafted: The following part of the process is to draft your Article of Association that mentions all the necessary shareholder as well as business details. You need to visit The Ministry of Justice to complete this process.
After having your Trade Name and the Article of Association, you need to submit the documents to The Ministry of Commerce and Economy to obtain the commercial registration certificate for starting a company in Qatar. You may be asked some general questions about the businesses, such as the kind of business activity that you will indulge in. Based on the type of business, the authorities will fix the cost.
The following crucial document that you need to obtain to be able to buy or rent a space for your office is the Trade Licence. To get this licence for setting up a company in Qatar, you need to submit the following documents:
- Copy of CR
- Authorized person ID card for the business
- Copy of AOA
- Office building photo that clearly shows the address
- Building owner ID and completion certificate
- Approval of civil defense, ownership instrument as well as rental acknowledgement
- If into subcontracts, the authorization letter of the rental real estate
Then you need to get your hands on the computer card provided by the Immigration department for starting a company in Qatar. This document mentioned the details of the individual who would be signing for the company. The required documents to get the computed card include:
- Trade license copy
- Commercial residence copy
- Copies of ID card of individuals who are required to be on the computer card
- Copies of ID card of all the shareholders
You are required to visit the Immigration and Passport Control office to apply for the Computer Card.
With these simple steps, you can easily set up a company in Qatar. All you need to do is procure the necessary documentation and paperwork to open and run the businesses legally.
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