Starting a Business in Qatar
Many people do not realise just how wealthy a nation Qatar is, but perhaps surprisingly, it ranks number two in the worldwide GDP per capita table. Since the announcement that Qatar will play host to the 2022 World Cup, the Qatari government has been encouraging foreign workers to move there and start up their own businesses.
In order to be ready for hosting the World Cup, improvements need to be made in Qatar’s infrastructure. Because Qatar has a very small native population, in order to meet the changes that need to be made the government is particularly embracing of foreign businesses and contract workers.
Despite the negativity that can sometimes surround the Middle East, Qatar is a very stable country; it is highly prosperous and there are many opportunities for entrepreneurs and business-minded people. When starting a business, regardless of where in the world it is you need to make sure that you have an understanding of the culture and the different systems in place, to ensure that you cover all the bases and are prepared for success!
Qatar Business Start-Ups – Help and Guidance
If you have decided to take advantage of the wealth of opportunities available in Qatar, then it’s well worth seeking professional advice to help you set up and start off on the right foot. A quick search online should help you to identify and source companies who help business start-ups in Qatar. These professionals will help you to understand the legal processes of starting a business there and will guide you through the various stages required.
Rules and regulations are not standard across the world, so you need to make sure that you have the right information for the country that you are planning to start your new business in.
By using a professional business start-up company, you will be able to get the necessary help that you may need to secure a business sponsor and to deal with other procedures, such as opening a business banking account in Qatar. Your advisory company will also be able to assist you in understanding the key cultural differences, to help you make the transition between your home nation and your new country of residence as smooth as possible.
Businesses in Qatar – Key Advantages
There are many good reasons to choose Qatar for your new business start-up. Some of the key benefits include low corporate taxation rates for foreign businesses (just 10%), tax-free exports and no VAT. You can also take advantage of low rate custom duty at only 5% and the additional benefit of being able to move your profits and capital into another country.
From a more personal point of view, there are many other reasons why Qatar is a good choice; brilliant hospitals, fantastic education facilities, gorgeous weather and a great lifestyle – so if you like the idea of setting up a new business, Qatar could be a great choice!