opening a bank account in qatar

Opening a bank account in Qatar

Part of the company formation process is opening a company bank account in Qatar. Company bank account opening in Qatar requires the Commercial Registration (CR), license and other supporting company documents. We can lead you through the process of company bank account opening in Qatar with our trusted banking partners.

To open a business in Qatar, it is typically necessary to have a bank account in the country. Having a local bank account is important for various reasons, including complying with financial regulations, conducting transactions, and managing business finances. By having a Qatari bank account, investors gain the ability to seamlessly manage payments, receive funds from clients, and handle day-to-day expenses, all within the local financial ecosystem, thereby eliminating currency conversions, reducing transaction costs and streamlining business operations.

When conducting business in Qatar, you will likely need to provide documentation that demonstrates your financial stability and ability to operate the business.

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What are the key considerations when choosing a company bank account in Qatar?

When selecting the right company bank account in Qatar, there are several key considerations that foreign investors should keep in mind:

  • Reputation and stability: Choose a bank with a solid reputation and a long-standing presence in Qatar. Look for banks that are well-regulated and have a track record of financial stability and reliability.
  • Services and products: Assess the range of banking services and products offered by different banks. Consider your specific business needs, such as international transactions, trade financing, or digital banking capabilities, and choose a bank that aligns with those requirements.
  • Accessibility and convenience: Evaluate the bank's branch network and availability of ATMs, particularly if you anticipate needing frequent in-person banking services. Additionally, consider the convenience of online and mobile banking platforms for efficient remote management of your accounts.
  • Fees and charges: Understand the fee structure associated with maintaining a bank account. Compare fees for transactions, account maintenance, wire transfers, and other services to ensure they align with your budget and anticipated banking needs.
  • Currency and international services: If your business involves international transactions, consider a bank that offers competitive foreign exchange rates and comprehensive international banking services. This includes the ability to hold multiple currencies, access to international payment systems, and trade finance solutions.
  • Customer support: Evaluate the quality and responsiveness of the bank's customer service. A bank that provides prompt and reliable customer support can be invaluable in resolving issues and ensuring smooth banking operations.
  • Local network and expertise: Consider a bank that has a strong local network and expertise in the Qatari market. This can provide access to valuable connections, industry insights, and specialised services tailored to the unique needs of businesses operating in Qatar.

How to open a bank account in Qatar

Which banks allow foreign investors to open accounts in Qatar?

In Qatar, several banks allow foreign investors to open accounts. Here are some of the prominent banks that cater to the needs of foreign investors:

  1. Qatar National Bank (QNB): QNB is the largest bank in Qatar and offers a range of services for foreign investors. It has an extensive network of branches and ATMs, both within Qatar and internationally. It also provides robust digital banking solutions, allowing businesses to conveniently manage their accounts, conduct transactions, and access financial information remotely.
  2. Commercial Bank of Qatar: The Commercial Bank of Qatar provides comprehensive banking services to foreign investors. It offers a wide range of account types and has a strong presence in the local market. It has also established partnerships and correspondent relationships with leading international banks allowing foreign investors to leverage CBQ's network for their cross-border transactions and business connections.
  3. Doha Bank: Doha Bank is another well-established bank in Qatar that welcomes foreign investors. It provides a range of banking services, including corporate and international banking solutions. It also provides additional support to its clients in the form of dedicated relationship managers who can offer personalised assistance and guidance, as well as responsive customer support channels to address queries and concerns.
  4. Qatar Islamic Bank (QIB): QIB offers Sharia-compliant banking services and allows foreign investors to open accounts. It caters to both individuals and businesses, providing Islamic financing options. QIB provides a wide range of Islamic banking solutions tailored for businesses, including corporate banking, trade finance, treasury services, project financing, and cash management. These services are designed to meet the specific needs of businesses while adhering to Sharia principles.
  5. Al Ahli Bank: Ahli Bank is a reputable institution in Qatar that accommodates foreign investors. It offers a variety of banking products and services, including corporate banking, trade finance, and treasury solutions.
  6. Masraf Al Rayan Bank
  7. Dukhan Bank
  8. International banks with a presence in Qatar: Several international banks, such as HSBC, Standard Chartered, and Citibank, have a presence in Qatar and allow foreign investors to open accounts. These banks often cater to the needs of multinational corporations and high-net-worth individuals.

What documents are required to open a corporate account in Qatar?

The requirements to open a bank account in Qatar may vary depending on the bank and the type of business entity. However, here are some common documents typically required:

  • Company Licence: A copy of the company licence documents such as Commercial Registration, Trade Licence or Computer Card is usually required to verify the legal existence of the company.
  • Memorandum and Articles of Association: These documents outline the company's structure, activities, and regulations. Banks often require a copy to understand the company's operations and ownership.
  • Board resolution: A board resolution authorising the account opening and designating authorised signatories is typically required. This document should be attested by the company's directors or shareholders.
  • Shareholders' and directors' documentation: Banks may ask for copies of passports, and or valid Qatar Identification Document (QID) cards of the company's shareholders and directors. In the case of foreign shareholders and directors, additional notarised documents, such as a Power of Attorney, may be necessary. If the shareholder is a company, a valid Commercial Registration, Articles of Association and Share Register are required.
  • Company profile: A detailed company profile, including information about the nature of the business, activities, and financial information, might be necessary to assess the suitability of the company for banking services.
  • Business plan or projected financials: Banks may request a business plan or projected financial statements to evaluate the company's viability and growth potential.
  • Authorised signatories: A list of authorised signatories who will have signing authority over the corporate account should be provided, along with their identification documents and specimen signatures. The bank usually asks the authorised signatory to be present in the bank to sign a signature card and other bank forms.

What documents are required for personal bank account opening in Qatar?

To set up a personal bank account in Qatar, the required documents typically include:

  • Valid passport
  • Qatar ID (QID)
  • Proof of residence: A document that verifies your residential address in Qatar, such as a utility bill or a rental agreement, may be required.
  • Employment or salary certificate: A letter from your employer or a salary certificate indicating your income and employment status is often necessary.
  • Introduction letter: Some banks may require an introduction letter from your employer or a Qatari sponsor.
  • Personal reference: Providing the contact information of a personal reference residing in Qatar may be required by certain banks.
  • Source of funds: Depending on the bank, you might be asked to provide documentation or information about the source of your funds

It’s important to note that specific requirements, documentation, and eligibility criteria may vary among banks. It’s advisable to contact the banks directly or consult with a professional corporate services provider to get accurate and up-to-date information regarding opening a bank account as a foreign investor in Qatar.

What is the process for opening a bank account in Qatar as a foreigner?

  1. Opening a bank account in Qatar as a foreigner typically involves the following steps:
  2. Choose a bank: Research the various banks in Qatar to find one that suits your needs. Look for banks that offer services to non-residents or expatriates.
  3. Gather required documents: Prepare the necessary documents that banks typically require for opening an account as detailed above.
  4. Visit the bank: Schedule an appointment with the chosen bank and visit their branch. It's a good idea to call ahead to confirm the specific requirements and any additional documents they may need.
  5. Complete application form: Fill out the account opening application form provided by the bank. You may be assisted by a bank representative during this process.
  6. Submit documents: Provide all the required documents to the bank. They will verify your identity and review the information provided.
  7. Initial deposit: Deposit the minimum required amount specified by the bank to activate your account. The minimum deposit varies from bank to bank.
  8. Sign necessary agreements: Review and sign the necessary agreements and terms and conditions related to your account.
  9. Receive account details: Once your account is opened, the bank will provide you with your account details, including an account number and any relevant cards and login details.

Is there a minimum salary to open bank account in Qatar?

The minimum salary to open a bank account in Qatar or the minimum balance requirements for bank account opening in Qatar, differ from bank to bank. The minimum salary or balance can vary, but the standard is QAR 5,000 minimum salary. 

When trying to decide which is the best bank in Qatar for expats and the process of how to open a bank account in Qatar, it is best to seek advice from our Qatar banking consultants to assist with aligning your business activities, business and banking requirements and then making an informed decision on the appropriate bank account for your business. 

How can PRO Partner Group help with Qatar bank account opening?

When looking at how to open a bank account in Qatar, Banks in Qatar typically have stringent documentation requirements, which may include various identification documents, proof of residence, business documents, and references from other financial institutions. 

Navigating minimum salary to open a bank account in Qatar or minimum balance requirements can cause clients confusion. There are options for zero balance account opening in Qatar but many banks may have minimum deposit and balance requirements, which can be higher for foreign individuals and businesses. Our team work closely with all the Banks in Qatar to choose the best bank in Qatar for expats personal and business requirements. 

PRO Partner Group can facilitate the bank account opening in Qatar. Requirements to open a bank account in Qatar can be tricky to navigate, PRO Partner Group assist in gathering and preparing the necessary documentation, ensuring that all requirements are met, and the paperwork is properly organised. We also have existing relationships with banks in Qatar, which can facilitate the account opening process and help streamline communication.

If you need assistance with this or with any other related company setup, restructuring, local partner or Visa and PRO support matter in Abu Dhabi, Dubai, the wider UAE, Oman, Qatar, Bahrain and Saudi Arabia then please do get in touch with us on +971 (0)4 456 1761 for Dubai or +971 (0)2 448 5120 for Abu Dhabi, email us at or complete the contact form below and we will be delighted to assist you.

Set up a Bank Account in Qatar

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