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Qatar

Qatar

Executive Summary:
Qatar is a Middle Eastern peninsula jutting north into the Persian Gulf between Bahrain to the northwest and the United Arab Emirates to the southeast. It has a population of just over 1.9m, which includes a substantial number of expats. Qatar economy is largely centered on is vast gas and oil reserves, with oil production accounting for around two-thirds of total government revenues. However, as with most Gulf States, Qatar is looking to reform and liberalize its economy to avoid over-reliance on hydrocarbons.

The Qatar Financial Centre was established in 2005 with the aim of attracting international financial services and multinational corporations and developing the financial services industry. There are 15 banks operating in Qatar, including seven national banks, two of which operate in accordance with Islamic principles. The country benefits from excellent telecommunications.

Businesses are subject to tax on income arising from activities in Qatar and there is no personal income tax as such. Investment incentives are available to foreign investors participating in joint ventures with local participation. However, foreign trading organizations are not permitted to operate on their own behalf Non-Qataris are not permitted to participate in banking, insurance, commercial agency, or real estate trading activities.

Country:
Qatar
Region:
Middle East
Currency:
Riyal (QAR)
Languages:
Arabic
Time Zone:
UTC +3
Phone Code:
+974
Communications:
OK
Formation Cost:
3700 - 6100 USD$
Formation Time:
7 - 12 days
Maintenance cost:
1600 - 2400 USD$
 

Suitable for:

  • Insurance,
  • Shipping,
  • Aviation,
  • Holding Companies,
  • Property Ownership

Vehicle Types:

  • Limited companies,
  • public limited companies,
  • branches,
  • general partnerships,
  • limited partnerships and joint ventures

Capital primary business districts:
Doha

Good Relationships:
Albania, Turkey

Bad Relationships:
Egypt, Israel, Kuwait

Tax Burden - Business:
Light

Tax Burden - Individual:
Very Light

Headline tax rates:
CIT 10%/35%, PIT 0%, VAT 0%

Treaty Jurisdictions:
Algeria, Armenia, Austria, Azerbaijan, Belarus, Bulgaria, China, Croatia, Cuba, Cyprus, France, Georgia, Greece, Hong Kong, Hungary, India, Indonesia, Iran, Ireland, Isle of Man, Italy, Jersey, Jordan, Korea, Republic of, Lebanon, Luxembourg, Macedonia, Malaysia, Malta, Mauritius, Mexico, Monaco, Morocco, Nepal, Netherlands, Norway, Pakistan, Panama, Philippines, Poland, Romania, Russia, Senegal, Serbia, Seychelles, Singapore, Slovenia, Sri Lanka, Switzerland, Syria, Tunisia, Turkey, United Kingdom, Venezuela, Vietnam, Yemen

TIEA Jurisdictions:
Cayman Islands, Denmark, Faroe Islands, Finland, Greenland, Iceland, Sweden

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Rooms 05-15, 13A/F, South Tower,
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17 Canton Road, Tsim Sha Tsui
Kowloon Hong Kong