Business Regulations in Qatar
As a diverse and resilient market that has strong ties with the world’s leading economic powerhouses, Qatar has established itself as a much-coveted business hub for business' to expand into.
Though a small country in terms of land area, Qatar is one of the more favourable spots when it comes to business as it offers an investor-friendly environment for its entrepreneurs, both domestic and international. The regulations that have been put in place are conducive to budding business ventures. Starting your own venture in Qatar is made incredibly convenient by government policies governing such undertakings. The prospects the Qatari infrastructure brings with it further augments the possibilities for entrepreneurs. Despite the unsurety brought about by the declining energy prices, the country continues to generate an impressive growth (numbers for GDP and National Income and FDI). The state, previously driven exclusively by revenue from hydrocarbons has now expanded its reach to other avenues.
Globalization of Qatar
To encompass an ever-increasing need to innovate and improvise, the government has taken steps to diversify from gas and oil and focus on building a strong infrastructure. Transportation, also a prime area of interest, offers immense scope for investors from overseas to be a part of this economic advancement. The Qatar Chamber of Commerce and the Tourism Authority of Qatar has joined hands with the Ministry of Economy and Commerce to launch an initiative focused exclusively at regulating and promoting entrepreneurs in line with the need in the Qatari market.
A Certified Business Platform
As an “AA” country, Qatar already has an established platform that offers non-Qatari investors attract incentives for setting up their enterprises in line with the law. It is these relaxed rules that have resulted in a much higher annual influx of investment in the region than any of its neighbouring states. The regulations that govern the participation of the non-Qatari investors mandate strict compliance and are subject to certain approvals. The scope for investment for non-Qatari investors is extensive with the final decision being taken by the Council of Ministers.
Incorporation of Legislations that promote business
In line with these trends, Qatar is moving towards curbing restrictions for ownership of business by foreigners. There are talks about regulatory developments to grant a sizeable chunk of foreign ownership of businesses in Qatar. A draft law has been proposed by ministers to allow for such provisions across economic sectors. The ownership limit for investors with listed companies and large companies is at the previously designated 49 per cent. There are further talks about added incentives in this realm with a view to encourage and boost foreign investment. The legislation is yet to be finalised but holds promise for foreign investors seeking business opportunities in Qatar. A reform of such magnitude has the dexterity to boost the economic development in the state, with the prospects of making Qatar a world economic leader.
Understanding the new business ownership rules
The proposed draft law, in association with the laws that regulate usage and ownership of real estate by non Qataris, will open fresh outlets and steer a path for expatiates in Qatar to be able to own their businesses and their private properties. These benefits along with the existing tax exemptions, government support and the low cost of industrial and commercial leasing of properties will attract new domiciliation from its neighbours.
Why BBMS could be your Business Launcher
In this expanding market of Qatar, with ever-evolving regulatory improvements, it becomes imperative for prospective businesses to seek appropriate guidance and counsel to ensure complete adherence to the laws of the state. BBMS with its vast experience and client networks can offer you the right tools and the channels to navigate your entrepreneurial journey in Qatar. With BBMS, you will get the guidance of setting up a business, and avail benefits that extend to networking, partnerships, credit facilities and administrative assistance. To know more about how your business can make the most of the new innovative business platform that is Qatar, visit our website or contact us on (email). Avail our quick guide books and checklists and always stay ahead in compliance.
