How to start a Business in Qatar

How to start a Business in Qatar

Incubate
17th Jun, 2021

How to start a Business in Qatar

When determining how to start a Business in Qatar, you need to first decide on the type of Business you want to start. The Ministry of Commerce lists the following types of Businesses that one can set up in Qatar:

  • Sole Proprietorship 

  • Joint Company / Partnership Company 

  • Limited Partnership Company 

  • Shareholding Company 

  • Limited Liability Company

  1. A sole Proprietorship 

This is a company that is fully owned and controlled by a single individual. The owner has sole responsibility for making decisions, receives all the profits, claims all losses, and does not have separate legal status from the business. If you are a sole proprietor, you also assume all the risks of the business. The risks extend even to your personal property and assets.

  1. Joint / Partnership 

A partnership / joint company comprises two or more individuals who are fully responsible for the liabilities of the company. All partners must be Qatari but either of them can conduct business under the name of the company.  

  1. Limited partnership 

This is like a partnership, but each partner is only held liable for company obligations to the extent of their investment. Additionally, partners under this company type will have no management authority.

  1. Shareholding company  

This company is formed through a shareholding arrangement, approved by the Ministry of Economy and Commerce, prior to establishment of the company. The capital of the company is distributed to tradable shares of equal value. The number of shareholders should be at least five in number, with all of them being Qataris. Shareholders shall not be liable for the company’s debts and liabilities except to the extent of the value of their shares.

  1. Limited Liability Company 

This is the most popular legal structure in Qatar and requires that more than 50% of the company be owned by a Qatari partner / partners. Partners are liable only to the extent of their investment in the capital. Tradable shares certificates cannot be issued to partners for their stakes in the company. On formation, the LLC can trade freely in the State of Qatar 

Once you have decided on the type of business you want to start, you will need to undertake the documentation process. This entails obtaining the three essential documents needed to set up a business in Qatar: 

  • Commercial Residence 

  • Trade License 

  • Computer Card 

  1. Commercial Residence

The Commercial Residence (CR) is a document issued by the Ministry of Economy and Commerce (MEC), that details information about the company and its shareholders. It acknowledges the existence of the business as a legal entity and outlines the shareholders that own it. The CR can be used to open a corporate bank account and to manage assets under the company’s name. Since it is only valid for a year, an annual online renewal is required.

To obtain a Commercial Residence, you will need to do the following:

  1. Obtain a Trade Name 

To get a CR, you will need to first obtain a Trading name for your business. The trade name needs to be unique and should not be similar to any of the already registered Businesses. 

  1. Articles of incorporation 

The articles of incorporation are a set of formal documents filled by the Ministry of Trade and Business Office to legally document the creation of your business. It lists all the company’s shareholders and their ownership rights. It also contains important information such as the business name, street address, and the agent for service of process.

  1. The Trade License 

The trade license is a legal document that provides legitimacy to your company and is required to obtain an MEC approved office space for conducting your business activities. (Read here for more details on the trade license application process)

  1. The Computer Card 

This is a Signature card issued by the Immigration Department that says who is the signing authority on behalf of your company. You will need it to hire your employees and issue them with residence permits. To apply for the Computer card, you will need to submit the following documents to the Immigration and Passport Control Office:

  • The Official company stamps. 

  • A copy of the Commercial Residence. 

  • A copy of Trade License issued by the Ministry of Economy and Commerce. 

  • A copy of personal identification of each authorized personnel in the company. 

  • A copy of personal identification of individuals to be included in the computer card.

The Banking Process

Upon completion of the documentation process, you will need to get started on the banking process. This entails opening a corporate bank account with a local bank or with a global bank.  

To open a corporate bank account in Qatar, you will require a comprehensive business proposal and the following documents: 

  • The Bank application form 

  • The Company Trade License 

  • The Company Computer Card 

  • An original copy of the Articles of Incorporation 

  • Certified signatures of your business partners 

  • Personal identification documents and passports of your business partners 

  • An authorization letter stating the rights in account management, signed by your authorized business partners, and with your company’s letterhead.

Once your corporate bank account is setup, your business should be well on its way to success. 

 Marketing in Qatar

Marketing is important because it helps you sell your product or service. Marketing helps sales and sales help your business. 

 4P’s in marketing: 

  1. Product:

Procedures to ensure the products are ready for selling. When and how to launch and position a product. 

  1. Price: 

Make the amount of pricing or budgeting comparable to competitor’s level. 

  1. Place: 

How and where products or services are disturbed to sell. 

  1. Promotion: 

Brochures, Ads, posters, and newspaper to put all the information in an attractive way to pull the interest in customers.

How to market a product or a service? 

Use true stories to attract the buyer, because the buyer is looking for solutions to their problems, they will seek for true stories that are as same as their stories/problems.  

Make new things that your competitors do not have. Packaging is so important to make it nice and unique. However, if the marketing is for a service not a product it should be in the nicest way too.

Types of Marketing:

  • Internet advertising: The general thought of having a presence on the web for business reasons is a sort of promoting all by itself. 
  • Blog Marketing: Blogs are not, at this point select to the individual author. Brands presently distribute online journals to expound on their industry and sustain the interest of potential clients who peruse the web for data. 
  • Social media promoting: Businesses can utilize Facebook, Instagram, Twitter, LinkedIn, and comparative informal communities to make impacts on their crowd over the long run. 
  • Video marketing: While there were once plugs, advertisers currently put cash into making and distributing a wide range of recordings that engage and instruct their centre clients.

Strategic Marketing Plans

Marketing plan is a strategic structure to see where and how is your business going, it is a strategic roadmap to track your deadline.

How to create a Strategic Marketing Plan in Qatar?

  1. Know your business 

No one knows your business like you do. Think of this section as your opportunity to provide a general overview of your current business. Also, some companies use SWOT analysis to determine their strengths, weaknesses, opportunities, and threats.

  1. Determine Target Market 

In this step you should know your buyer’s interest and list everything you know about. So, you can attract them easily.  - “Knowing your customer from inside and outside will be helpful when identifying market strategies”

  1. Sets goal 

You cannot start a business without setting a goal. Depending on your current situation and goals can range from big (such as doubling sales or increasing market share) to smaller, more bite-sized ambitions (like getting 100 new Instagram followers on your brand’s account or starting a blog for your business).

  1. Set Budget 

Set a budget on how many do you plan to spend on marketing and promotions throughout the next year.

  1. Get to work 

Mix everything you did up and start your business. 

Branding

Branding is to promote a product or a service in the best way you can. You have to research about your audience, so you know how to brand the product. Its not just a logo it’s a catchy line to attract the audience.

Naming Strategy 

Brand name should reflect the business you are working on, to complete the overall character. The name should be strong and memorable. Do not forget that the name should be legal and can go with the trademark’s standards. Plus, non-taken and available.

Logo Design  

Its unnecessary to have a meaning but it must leave an impression. the logo design might break or make business, it depends on your work.

Recognizable 

A logo ought to make a passionate bond with the audience so they can keep it through the impression booked in their brains.

Website and App Development

People nowadays are using their phones for everything especially in this pandemic COVID-19 , everything is online. By creating an app or website for your company it will make the process easier than phone calls and e-mails.

You can include with a wide range of clients wherever by building up your apps system. Present day and refreshed applications play out various tasks in business just as other site as well. You ought to build up your applications framework that is truly easy to use and simple to get to so client can contact whenever from anyplace they are.

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