Ongoing business requirements and support in Qatar

31 March 2024 - Yuliya Ihnatsenka

Once company formation in Qatar is complete and the business has been established, it is important to consider the ongoing requirements necessary to ensure the continuous running of the business. There is the need for companies to account for their licenses, required documents, HR considerations, and any restructuring requirements from annual to circumstantial changes of running a business in Qatar.

Bank account opening services in Qatar

A major part of the incorporation process is the opening of a corporate bank account. In order to open a bank account in Qatar, other aspects of the company formation process must first be complete, as this requires obtaining and the provision of other supporting corporate documents such as:

Commercial Registration (CR)
License
Articles of Association (AoA)
The board resolution
Company profile (including the nature of the business, financial information, etc.)
Shareholder and directors documentation
Authorised signatories
Business plans

Businesses establishing in Qatar require corporate bank accounts to comply with financial regulations, conduct business transactions, receive funds from clients, and appropriately manage their finances.

At Sovereign PPG we can guide you through the process of opening a corporate bank account in Qatar, with our connections with several reputable local banks and our trusted banking partners, we can assist in selecting the appropriate bank for your business’ requirements.

What are PRO support services in Qatar?

A Public Relations Officer (PRO), also known as a Government Liaison, assist businesses in Qatar with government related work. Every business should consider PRO services to streamline their company formation and ongoing regulatory requirements, with regards to visas and licensing. Outsourcing a PRO can assist companies with:

External licenses and requirements
Contacting Ministries and regulators
Amendments to company licences
Translations and attestations

Sovereign PPG can assist with company secretarial work such as renewals, document drafting, and Annual General Meeting (AGM) documents, which is an annually mandated meeting extended to the company’s shareholders. With the outsourcing of PRO services in Qatar, companies can focus wholly on their business activities, enhancing their productivity and profitability. On top of efficiency advantages, through engaging with PRO support services, businesses receive the industry experience of the assigned PRO, a reduction in administration costs, and enhanced internal resources.

What are the HR requirements and services available in Qatar?

In Qatar, there are a number of labour requirements that companies are required to adhere to. Similar to the benefits of PRO services, Human Resource (HR) services in Qatar can assist companies to alleviate the pressures continuing to run a business and the regulatory requirements.

The key services that outsourcing HR services can assist with in Qatar include:

Ensuring end-of-service gratuity (EOSG) responsibilities and calculations are up-to-date
Creating a Salary Information File (SIF) according to the clients' bank requirements
Assistance with onboarding and documents (visa, immigration, job title, residency, offer letters, etc.)
Changing board of directors
Accountancy and bookkeeping
Payroll

It is essential for regulatory compliance in Qatar to have a proper payroll system in place. The Wage Protection System (WPS) is a tool through which companies are mandated to digitally transfer salaries to their employees and to correctly ensure the payment. This streamlined and automated payroll system is a part of the roles and responsibilities of employee management in Qatar. Through Sovereign PPG’s HR services, companies can securely manage their data and transfers with the WPS, including monthly payroll and making any necessary adjustments to payroll.

Office space support services in Qatar

The office space requirements in Qatar are determined by the requirements of the business and its licence. If a business is licensed in the mainland, Qatar Financial Centre (QFC), or in a freezone (QFZ or QSTP), then it is mandatory to have an office space in Qatar. The size requirements will also differ from mainland to freezones in Qatar.

Sovereign PPG can assist businesses with understanding their office space requirements, and in arranging their office space with relevant business centres or incubators.

What are corporate structuring services in Qatar?

A company will require to restructure in Qatar in cases such as liquidations, de-registrations, or conversions. For conversions and share transfers, Sovereign PPG can assist with facilitating the transferal of shares, including document drafting. This is increasingly prevalent in Qatar and the surrounding GCC region as more companies, business activities, and jurisdictions convert to 100% foreign ownership availability.

How can Sovereign PPG help?

At Sovereign PPG, we have a dedicated team in our Doha office who provide corporate services in Qatar, as well as the UAE, KSA, and the wider GCC, with a great understanding of business requirements in the region.

Navigating business setup and the business permit requirements in Qatar can require careful consideration to ensure continued success in the country. Sovereign PPG can assist you in following these requirements to ensure your organisation is best equipped for ongoing success.

If you need assistance with Qatar business support, company formation, regulations, or any other related compliance, PRO support matter, onshore or offshore company setup, restructuring, or local partner in the UAE, Abu Dhabi, Dubai, the wider UAE, Oman, Qatar, or Saudi Arabia then please do get in touch with us on +974 (0)44 788 765 for Qatar or +971 (0)4 456 1761 for Dubai, email us at SovPPG@SovereignGroup.com or complete the contact form below and we will be delighted to assist you.