Qatar is an emirate with a conventional hereditary system. It is ruled by the Al Thani family whose presence in the peninsula dates from the eighteenth century.
It occupies approximately 11,521 square kilometers on a peninsula that extends 160 kilometers north into the Persian Gulf from the Arabian Peninsula. The coastline is 550 kilometers long. Its territory comprises a number of islands. The terrain is flat and rocky with some low-rising limestone outcrops in the west and north. The country is divided into municipalities for administrative purpose. The municipalities are Al Daayen, Al Khor, Al Rayyan, Al Shamal, Al Wakra, Doha and Umm Salal.
The Judiciary in Qatar is expressly established as an independent body by the provisional constitution and is currently divided into two court systems; the civil, commercial and criminal system and the Sharia Court system. Sharia Court system administers Islamic laws.
Recently Morison Menon did a targeted survey with individual businessmen who have setup in qatar in the last one decade or who are planning to company setups qatar in 2011. Our sample size was restricted to 250 businessmen and the survey was carried out during the month of March and April 2011.
Our findings provide interesting insight into merits of why Qatar has become an attractive destination for offshore company formation in qatar.The doing business in qatar is relatively easy and cost effective, due to progressive and business friendly policies of the government. The key findings of the survey are as follows:
- More than eighty percent of the respondents strongly felt that having a business offshore setup in qatar helped them do business not only in Qatar but also provided them a gateway to Saudi Arabia.
- Two-third of the respondents felt that setup services qatar that are available in Qatar are professional and the costs are much lower compared to other countries in the region.
- Three-fifth of respondents felt that incorporation help in qatar is more beneficial than company formation UAE and at any other country in the Middle East.
- More than four –fifth of the respondents expressed the opinion that operating cost of company formation qatar is much lower compared to Singapore.
- Answering the question on Qatar government entities welcoming offshore companies incorporate in qatar, a phenomenal 90% of the respondents expressed satisfaction on the assistance provided to them.
- More than four-fifth of the respondents were happy with the financial incentives provided the government and that being a major reason for them to offshore company formation qatar.
- On the talent front, more than three fourth of the business men liked the diversity of the workforce that was available for them to choose from while hiring talent in Qatar.
- On life style options available for them in free zones in qatar, 90% the respondents were extremely happy with the options available for them and they expect the options to improve further due to upcoming sporting events such as World Cup Football.
- On rentals for commercial space for company formation qatar, more than three fourth felt rentals are realistic and offer value for money. They also expect more commercial space and hotels to become available once new projects get completed.
The findings of the survey validate the perception that Qatar is becoming hotspot for new setup services qatar and this decade Qatar is expected to grow at faster rate than doing business in uae and other GCC economies. Businesses that want to have a strong foothold in the Middle East should look at Qatar as an option and not restrict themselves to company incorporation in Dubai.
Morison Menon is a leading Chartered Accountant Company in the Middle East with offices across UAE. The company provides entire gamut of services ranging from assistance in business feasibility studies, financial accounting, audit services,company formation,setup services,incorporate & doing business in free zones of qatar.The company has assisted more than 1000 companies to setup businesses in UAE – Dubai, Abu Dhabi, Ras Al Khaimah, Fujairah, Ajman, Umm Al Quwain, Sharjah, Kuwait, Doha-Qatar, Muscat-Oman, Bahrain, Saudi Arabia, Iran, Jebel Ali, JAFZA, DAFZA, Dubai Internet City, SAIF Zone, RAK Free Zone-RAKIA and DIFC [Dubai International Finance Center].