Qatar has been continuously growing as a business investment destination. With its capital Doha, the location opens a gateway to other neighboring countries that include Bahrain and Saudi Arabia. Investors who set up a business in Qatar gets an opportunity to tap into the other markets. When it comes to a business establishment, the region allows multiple business structures to fix their roots. In this article, we will cover one of the corporate structures which is known as One Person Company. Let’s begin with…
Highlights of a One Person Company in Qatar
- Liability is extended to the limit of investment made
- Fundraising from financial institutions becomes way easier
- Minimum number of the shareholder is 1 and the maximum is 15
- In case the turnover reaches over 2 crores, it will be turned into a private or a public limited company
- It must be filed with the Ministry of Corporate Affairs and then must have a minimum share capital of QR 2,00,000
To initiate the process, documentation plays a very crucial role. You need to make sure that necessary documents need to be drafted and presented accordingly to the higher authorities.
Documents Required to Set Up a One Person Company in Qatar
- Copy of Passport for Foreign Nationals and NRIs
- Copy of Passport, Voter ID, Driver License
- Copy of latest bank statement
- Passport-sized photographs
- Specimen signature (blank document with signature)
- Notarized Articles of Association
Once the entire set of documents is in hand, the company registration process can be initiated forward.
How to Open a One Person Company in Qatar?
The company registration process for a One Person Company turns out to be similar as compared to the other business entities. It is a mandate for every OPC to nominate a Nominee Directors in the Memorandum and Articles of Association. In case of an OPC, a nominee during the incorporation process is required.
Why to Setup a One Person Company in Qatar?
As we have seen that the location provides benefits for multiple corporate structures. Now,
- If an investor or an entrepreneur wants to establish a company with a low budget, One Person Company is the option that one can go for. Later on, as the business grows, this can be converted into a private or a public limited company with the essential number of shareholders required for both the types.
- Setting up a one person company initially can help you in understanding the business climate of the region
- It helps in understanding the growth opportunities in the target market
- As compared to the other business entities, the setup process for One Person Company is way easier
As you can see that opening a branch office in Qatar can help your business to expand its reach. The establishment process turns out to be way easier if you have a helping hand. At Commitbiz, we focus on providing the core essentials required to set up a branch office. If you are looking out for the same, do contact us today even if it’s for a friendly advice-we’d be glad to assist you.