Benefits of Living and Operating in Qatar
Qatar means business
Being a country that intricately balances its rich past with modern technology and architecture, Qatar has ensured that it has retained its traditions while embracing the new. It is a country that, after decades of its dependence on oil alone, has propelled its economy to prosperity through diversification and modernisation.
If you really wish to experience the culture and opportunities this land has to offer, now would a good time to visit. Not only are the laws of the country pro-business, the exotic offerings of this country are bound to attract expatiates. Contrary to popular belief surrounding restrictive Islamic practices, Qatar has a welcoming ambience with over 88 per cent of its population comprising foreign nationals.
Laws that promote diversity and growth
Qatar has been proactive in encouraging business ventures by foreign nationals with participation from the local populace. In order to create a conducive environment for business and family, the government has paid keen attention to creating avenues for leisure, entertainment, education and healthcare. The world class amenities at the malls, museums and schools reflect its quest to welcome a global culture.
Business and investing opportunities in Qatar are in abundance with the country being rated as having the least demanding tax framework in the world. There are various avenues to seek legal, financial and business counselling. Prior to starting a business in Qatar, it is crucial that you acquaint yourself with the rules that regulate the Foreign Investment Laws, particularly Law 11 of 2015. These laws provide an underlying guide to the legal ownership of businesses in Qatar.
Emerging trend of business ventures
The most popular of business ventures in Qatar is the Limited Liability form of undertaking, which clearly mandates that at least 51 per cent of the shares of your company be held by a Qatari partner. Though you are allowed only 49 per cent stake, the ease of renting land on a long term basis for foreign entities, more than makes up for the stringent rules that prohibit any land ownership by foreigners. In certain instances, renting by foreigners can be allowed for up to 50 years.
An entity that is wholly or partially owned by foreign nationals and that derives income from sources in Qatar is taxable. The profits are generally subject to income tax at a flat rate of 10 per cent.
The infrastructure of Qatar is at par with the best in the global playing field, and the rising receipts from energy have further eased the fiscal constraints. It has created a favourable entry point for foreign businesses with the expected growth in 2018 to recover to 2.8 per cent, with further growth expectation of (an average rise) 3 per cent in 2019. What makes investment in Qatar unique is not only the present prospects the country holds but the pace at which it is upgrading its image ahead of the FIFA World Cup. In the months to come, it is expected to host ever more number of businesses within its borders.
For further details on the legal and financial frontiers of operating a business in Qatar reach out to out experts at firstname.lastname@example.org or call us at +974 4012 0300 where a representative of our entity will speak with you.