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Business set up in Dubai?
Jumeira International
Qatar is a gas-rich country and has the highest per capita income in the Middle East. It has one of the world’s fastest growing economies. Qatar Company Formation is an attractive option for foreign investors and entrepreneurs for the benefits that Qatar offers. Despite some difficulties such as high government fee, complex Qatar company laws , Qatar is still one of the popular choices for Offshore Company Formation.
Steps involved in setting up LLC in Qatar
1. Agreement on legal, Tax and accounting propositions of Qatar company registration between the hired local consultant and the company.
2. Complete all the due diligence that is required for Qatar company registration .
3. Decide upon the company name and the best possible corporate structure that includes shareholders and directors appointed.
4. Completion of incorporation documents that have to be duly signed by the company authorities.
5. Approval of the documents and formalities by the concerned Qatari authorities to complete Qatar company registration . The documents pertaining to the incorporation procedure are Certificate of Incorporation; a bound copy of a Government approved Articles of Association, original share certificates, an original Government receipt for payment of annual Qatar company registration and license fees.
Some of the restrictions to for Qatar Company Formation are
A Qatari limited liability company requires a capital of QR300, 000 (US$82,000) as a minimum.
3. An auditor must be appointed if the capital of a Qatari LLC exceeds QR500, 000.
4. Company formation in Qatar requires a minimum of two shareholders.
5. Qatar company formation law requires a partner who is a Qatari national to hold a 51% share in a local entity.
6. After the company formation , the company has to keep 10% of each year's net profits until the reserve stands at 50% of the share capital.
7. The company is not allowed to raise capital by public subscription and cannot issue freely transferable shares or bonds.
8. Shares may only be transferred after they have first been offered to the other shareholders by pre-emption procedure and with the consent of other shareholders
9. Not allowed to accept deposits, carry out banking or insurance business or provide investment services on behalf of third parties.
You can hire a consultant who can guide you through the whole process and also take the responsibility of completing all the procedures involved in company formation, without requiring your presence in Qatar. There are many experienced and professional consultants based in Dubai who can help you with Qatar LLC formation.
Business setup in dubai
Article submitted Saturday, April 02, 2011 & read 23 times.
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