The majority of companies setting up in Qatar will need a reliable local partner and having the right local partner is the key to the success of any business in Qatar. Venture Partner LLC understand the role that local partners play and our Company, Venture Partner Qatar can become your safe and reliable 51% shareholder. Venture Partner LLC’s is under the same management team as PRO Partner Group UAE.
Venture Partner Qatar pride ourselves on providing a transparent and responsive service to our clients. Our aim is to make the company formation process as efficient as possible and to keep you up to date with the process at all times. Our focus is on flexibility and finding positive and practical ways forward. Our aim is to provide the right environment for your business to thrive in this exciting and dynamic market.
When setting up a company in Qatar it is mandatory for a Qatari National to hold a 51% share of the company. However, there are two options for national sponsorship in Qatar; Corporate and Individual:
Numerous Signatories - VPQ is available at all times to attend legal signings as and when required which avoids any delays.
Individual Signatory - If the Individual Sponsor is unavailable for signings, this can cause delays.
Succession Protection - In the unfortunate case of death or incapacity of a signatory, this will not effect the company which is sponsored due to VPQ having multiple signatories.
No Protection - In case of the death of an Individual Sponsor, Sharia law takes effect and all items relating to the company will be frozen whilst under probate. The heirs of the deceased will split all assets, which could take time and once an agreement has been made, all legal documents including contracts and agreements will be redone. The entity will be unable to continue with business until this process is complete.
Side Agreements – All agreements are with a Corporate Entity and will have a stronger uphold within the law. These agreements are legally binding which protects the foreign shareholders.
With an individual Local Sponsor, side agreements are not as strong and the POA of the local sponsor can revoke them at any time in the case of a dispute.
Number of Sponsorship Control
When dealing with a Corporate Sponsor, the number of clients at one time is controlled as VPQ has limitations in place to reduce risk for partners and ensures safety to daily activities.
When dealing with an Individual Sponsor, there is no control over the number of clients at one time therefore if another company under the same Individual Sponsor defaults or has legal issues, this will also effect your business. This includes WPS blocks, labour blocks, court cases and fines.
VPQ offer exit, transfer and sales clauses in our contacts with no penalties due to our Corporate Partners. This allows for your entity to have a clear exit strategy and full control over the Intellectual Property, brand and P&L.
There is no exit clause with an Individual Sponsor therefore, this imposes high risk to the foreign shareholder in the event of a sale, exit or transfer