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Doing business in qatar - Morison Menon

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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 offshore company set up services,offshore company formation and doing business in Qatar.For more information visit: http://www.morisonmenon.com

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Doing business in qatar - Morison Menon

  1. 1. Doing Business in Qatar - Morison MenonQatar is an emirate with a conventional hereditary system. It is ruled by the Al Thani family whosepresence in the peninsula dates from the eighteenth century.It occupies approximately 11,521 square kilometers on a peninsula that extends 160 kilometers northinto the Persian Gulf from the Arabian Peninsula. The coastline is 550 kilometers long. Its territorycomprises a number of islands. The terrain is flat and rocky with some low-rising limestone outcrops inthe west and north. The country is divided into municipalities for administrative purpose. Themunicipalities 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 constitutionand is currently divided into two court systems; the civil, commercial and criminal system and the ShariaCourt system. Sharia Court system administers Islamic laws.Recently Morison Menon did a targeted survey with individual businessmen who have setup business inQatar in the last one decade or who are planning to setup business in 2011. Our sample size wasrestricted to 250 businessmen and the survey was carried out during the month of March and April2011.Our findings provide interesting insight into merits of why free zones in qatar has become an attractivedestination for offshore company formation. To set up a company in Qatar is relatively easy and costeffective, due to progressive and business friendly policies of the government. The key findings of thesurvey are as follows: More than eighty percent of the respondents strongly felt that having a business 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 company setup services 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 doing business in Qatar is more beneficial than any other country in the Middle East. More than four –fifth of the respondents expressed the opinion that operating cost of running a business in Qatar is much lower compared to Singapore. Answering the question on Qatar government entities welcoming offshore companies incorporation, 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 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 Dubai, 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 incorporate in 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 companysetup in qatar and this decade Qatar is expected to grow at faster rate than UAE and other GCC
  2. 2. economies. Businesses that want to have a strong foothold in the Middle East should look at Qatar as anoption and not restrict themselves to Dubai.About Author: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, incorporation help, offshore setup, company setup, offshorecompany formation, setup services, company incorporation and company set ups in Qatar. The companyhas 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 [DubaiInternational Finance Center].For more information visit: http://www.morisonmenon.com

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