QATAR
the most common. Foreign companies and investors almost always form private limited liability companies in Qatar.
Private Limited Liability Company Under the Commercial Companies Law investors may register a private limited liability company. A private limited liability company must have: • Minimum authorised share capital of QAR 200,000 (USD 55,000) • Minimum of two shareholders and a maximum of 30 • Share capital paid up prior to incorporation • Liability of shareholder is limited to their share capital • Foreign investors can own up to 49 per cent of the share capital • A Qatari investor must have a minimum of 51 per cent of the share capital • Profit share does not have to reflect ownership • 10 per cent of profits must be set aside every month until it reaches 50 per cent of share capital
Companies taking this type of company formation cannot operate in the insurance, banking or investment brokerage sectors.
Public Liability Company Te rules are different for registering as a public liability company: • Minimum five shareholders • Minimum capital of QAR 500,000 (USD 140,000) • Incorporated by Emiri decree • Shares traded on Doha stock exchange
International Financial Service Providers Tis type of company can set up under different rules laid down in the creation of Qatar Financial Centre (QFC) in 2005. QFC-registered firms can conduct business internationally and throughout Qatar. QFC- registered firms can locate anywhere in Qatar, subject to approval. Much of Doha is already authorised as a ‘QFC zone’ and authorisation is generally straightforward. Capital of firms licensed under the QFC can be fully owned by foreign entities. Full repatriation of profits and capital is expressly permitted for all types of QFC entities. Entities wishing to operate from the QFC must be engaged in specific
QFC-permitted activities and must also be licensed and, in some cases, authorised by QFC authorities.
Qatar Science and Technology Park Te QSTP is, for the time being, the only free zone in Qatar, although
there are plans for a number of other zones in the next few years. Capital of companies registered in the QSTP can be entirely owned by foreign investors. QSTP companies are allowed to trade directly in Qatar without a local agent. Other free zone benefits include the fact that QSTP-licensed entities are not taxed and can import goods and services free of any Qatari added tax or customs duties. QSTP rents are highly subsidised. To set up in QSTP, the majority of activities must contribute to the
advancement of technology. Permitted activities usually include a mixture of technology, development and commercial trading. Once the other free zones at New Doha International Airport, the Industrial Area and Mesaieed are operational – scheduled to open in 2013 - they should provide greater access into Qatar for all types of industries by providing the facilities that are needed to accommodate each industry’s specific business needs l
48 I CITYSCAPE I MAY 2012
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