Qatar, like its surrounding nations, has free zones that invite corporate investors, manufacturers, and entrepreneurs to establish their foundations. Because of the availability of free zones in Qatar, they find that establishing a business there is a more appealing alternative.
About Qatar Free Zones - Company Setup in Qatar
Knowing about Qatar free zones is important for anybody who wants to start a business in the nation. There are two free zones in Qatar that include -
Qatar Science and Technology Park
Qatar Financial Centre (QFC)
The Qatar Science and Technology Park, located in Qatar's Foundation Education City, was founded in 2009 to provide a home for technology-based enterprises. This zone has several incentives, and satisfies the needs of commercial companies.
Some of the famous activities carried out at QSTP are:
As can be seen, this free zone is entirely focused on the technological area to provide a developing platform for corporate organisations. Let us now proceed to the next free zone.
Qatar is at the forefront of the financial sectors. The country has built a comprehensive free zone that focuses on financial elements known as Qatar Financial Centre. QFC, which was founded in 2005, is based in Doha and offers a legal and business framework for financial services.
It allows you to cope with a legal framework that is focused on money management in emerging countries. The free zone has expanded its boundaries and now encompasses non-regulated activities. The QFC engages in a wide range of operations, including Banking, Asset Management, Insurance and Reinsurance, Islamic Finance, Investment Advice, and so forth.
In a nutshell, these two free zones provide access to several corporate industries operating in specific sectors.
Benefits of the Company Formation in Qatar Freezones
Company formation in Qatar Freezone comes with several advantages, as listed below:
- 100% ownership.
- Zero corporate tax.
- 100% repatriation on profit.
- No customs or duties on imports of goods.
- High-tech digital infrastructure.
- A transparent and business-friendly environment.
- Easy investment opportunities.
- Infinite partnership opportunities.
Process of Setting Up a Business in Qatar Free Trade Zone
Company formation in Qatar Freezone requires a certain procedure, such as:
Register your trade name
Reservation of company name with the commercial registry by paying a fee of QAR 1000-1500.
Opening a bank account
Next, you need to open a bank account by depositing the paid-up capital. A Bank account is mandatory to maintain your profits.
Getting the Articles and Memorandum of Association drafted.
Obtain the necessary license from the government authorities.
Complete the registration process and get the company seal. All of the above procedures must be completed for the business entity to become operational. All you need now is a business consultant to assist you with the procedure and lead you through the legal requirements.
Documents Required for Your Qatar Free Zone Company Formation
Qatar free zone company formation is hassle-free if you have the right set of documents needed for the incorporation. The required documents are listed below.
- Information regarding the firm.
- A detailed description of the business plan.
- Research plans to be submitted (in case of QSTP).
- Bank statement for financial stability.
- Shareholder’s ID proofs.
All you need to do is ensure that the documents mentioned above are with you before proceeding with the basic procedure for Qatar free zone business setup.
Qatar Freezone Company Formation Cost
Qatar freezone company formation cost completely depends on the jurisdiction in which you choose to incorporate your business and the type of activity in which you wish to be involved. In general, the cost is approximately QAR 17000; it might vary depending on the nature of the business.
For more information, contact commitbiz, and hold hands with us for hassle-free company formation in Qatar.
Does Qatar have free zones?
Yes, Qatar has two free trade zones.
What is a Qatar free zone company?
Free zone company is incorporated in certain designated areas in Qatar according to their activity without having to face many regulations like a mainland company
Is it easy to set up a business in Qatar free zones?
Yes, Qatar free zones have a systematic procedure, and with proper documents, it should be easy. You can even reach out to a business consultant to make the process hassle-free.
Can foreigners start their business in Qatar?
Yes, Qatar encourages foreigners to invest.
What is the procedure for company incorporation in Qatar free zone?
To incorporate a company in Qatar you need to follow certain procedures, they are
- Register Your Trade Name
- Open a Bank Account
- Prepare all the documents
- Get your license approved
- Get extra approvals if necessary
- Register your company and get the seal