Limited Liability Company (LLC)
There is a wide range of foreign investors that plan on setting up their companies in Qatar. Due to the wide range of business possibilities the companies prefer to choose this destination. However, one of the most common methods for a foreign company to invest and setup up their business in Qatar is to incorporate a (LLC) Limited liability company. The state laws here make it mandatory for the limited liability companies to have a local Qatari partner or partners. In the LLC the local partner should hold a minimum of 50% of shares. However, in most cases the Qatari partner holds 51% of the company shares. The limited liability companies can make their changes or decision thorough our comprehensive business modules.
Information on LLC
- A LLC has the benefit of simultaneously carrying out unlimited number of contracts unlike a branch office.
- Before obtaining a trade license it is crucial for the LLC to have a proper office space.
- For a company to operate as a LLC in Qatar they need to have a minimum share capital of QR 200,000
- In this setup the profit share for companies does not need to reflect that of the shareholdings
- The corporation tax on the company profit is 10%
Benefit to the companies
Under the commercial companies law existing in Qatar there is no restriction for a limited liability company from including in the activities such as carrying our insurance or banking business, accepting deposits, providing insurance services tot eh clients on behalf of the third parties. There are many company and regulatory labor laws implemented by the government of Qatar, and all companies and investors must obey these rules in their company. In this regards, HBL can help you to implement these rules in your company, but a LLC Company is not liable to operate according to these laws because these companies can implement the share holding law as per the government.
Incorporation services from HLB Qatar
For our clients to have efficient LLC incorporation in Qatar we closely interact and communicate with our clients from the start to the finish of the LLC formation. We assist them with the relevant business ideas and also work with their business plans. We have a good understanding of the laws and regulation situation in Qatar and as a result we are efficient in providing them all the relevant information and details that will help them in the formation of the LLC. Our professionals have years of experience in the functioning of the commercial law and this helps us clearly target the high risk areas and provide effective results for the same. Some highlights of our services are:
- Getting approvals and clearance from the various government departments working in the field of incorporating the limited liability companies.
- Preparing the draft for the memorandum of association and the other crucial agreements necessary in the formation of LLC.
- With the help of our several business clients and the contacts in the industries we help our clients to find local partners in Qatar.
- We assist our clients to find a proper office location in Qatar before they can form the LLC so that the process can be smooth and the requirements for their business can be met.
- We have good contacts with the banking sector and our professional team helps our clients to open bank accounts for their business.
- There is a lot of documentation required to form a LLC in Qatar and we at HLB Qatar help our clients with proper documentation of all the relevant details.
Once we get all the required documents and understand the client’s requirement the formation of the LLC is just a matter of couple of weeks.