Financial services

Core focus sectors across platforms vary:

For registering under the MOCI, for an LLC company, the following are the main requirements:

For establishing an LLC company under MOCI, the application fee is around QAR 1,500 (minimum), and the license fee is around QAR 1,020 (minimum).

The average monthly wage for the total number of workers amounted to nearly QAR 12,000.

Average annual salaries of skilled workers including data scientists, software engineers, and financial analysts, range from USD 60,000-100,000

The Ministry of Interior (MoI) set up visa centres to provide seamless and efficient service for residency procedures on its behalf in eight countries - India, Sri Lanka, Pakistan, Bangladesh, the Philippines and Nepal. Individuals must complete biometric enrolment, medical examinations, and sign work contracts in their home countries through the Qatar Visa Center (QVCs) before coming to Qatar.

Work permits are issued for a minimum of one year and a maximum of five years approved by the Ministry of Labor (MoL). The MoL offers an e-service for the issuance and renewal of work permits for workers.

There are over 32 higher education institutions in Qatar, with world-renowned universities and local training centres for upskilling talent.

Qatar has a vibrant knowledge ecosystem and rich culture offering:

All taxpayers operating businesses in Qatar must obtain tax cards from the General Tax Authority (GTA).

Applications should be submitted within 30 days from commencing activities or registering with the Ministry of Commerce and Industry Commercial Register.

A body corporate is considered resident if it is formed and registered under Qatari law or if it conducts business through a head office or place of effective management in Qatar.

There are no taxes imposed on employed individuals’ salaries, wages and allowances in Qatar.

Currently, Qatar imposes no VAT or sales tax on operations in Qatar.

Qatar imposes excise tax on the following goods at their respective rates:

In alignment with the GCC Customs Union, Qatar imposes a 5% ad valorem tariff on the value of cost, insurance and freight (CIF) invoice of general cargo goods, excluding those exempted by law provisions. The tariff may also include a fixed amount levied on each unit of the goods. The limited tariff exceptions are:

The Qatari Labour Law enables employees to terminate their employment during their probationary period by providing a one-month notice to their employer.

The one-month notice period applies to employees who are in their first two years of service, whereas the two-month notice period applies to employees who have served longer.

TThe Commercial Companies Law provides for the following types of legal entities that may be formed and registered in the State of Qatar:

Foreign Investment Law (Law No. 1 of 2019) allows the establishment of 100% foreign-owned companies, with various incentives and benefits for non-Qatari investors as outlined by the law.

The 100% foreign ownership law does not apply to the banking and insurance sectors, companies engaged in the exploitation of natural resources, commercial agencies, and any other sectors decided by the Council of Ministers.

The Investment Promotion Agency Qatar (Invest Qatar) oversees investment promotion activities under the Invest Qatar brand and acts as the country’s umbrella organisation for FDI attraction. As part of its mandate, Invest Qatar manages financial incentives under a centralised national incentives programme, developed to complement the nation’s value proposition to attract foreign investors.

Ministry of Commerce and Industry (MOCI) offers a range of investment incentives, including land allocation for foreign investment projects by way of use or renewable rent. The foreign investor has the right to import what is necessary for the establishment, operation or expansion of their investment project, and the investor may be exempt from income tax and customs duties for machinery and equipment.

Qatar Development Bank (QDB) offers a range of mechanisms—from reviewing your feasibility study and supporting you with the necessary funding to providing legal and financial advisory services—to helping you launch and run a business successfully in Qatar.

Qatar National Research Fund (QNRF)programmes provide funding opportunities in the academic, public and private sectors to foster research in priority sectors such as engineering and technology, physical and life sciences, medicine, humanities, social sciences, and arts.

Qatar Science and Technology Park (QSTP) provides multiple funding opportunities for local and international tech founders and entrepreneurs. Through the Product Development Fund (PDF), QSTP provides up to 50% of the total budget as a grant to encourage local startups and SMEs, and the QSTP Tech Venture Fund (TVF) provides source-seed funding and follow-on capital for local and international tech founders and entrepreneurs looking to scale-up in the region.

With its future-ready digital and physical infrastructures, abundant natural resources and global connectivity, Qatar is a major international hub that provides unparalleled market access, enabling international investors to benefit from an increasingly seamless flow of trade and capital.

• More than 2 billion people across 25 countries worth $6 trillion in combined GDP are located within 3000 km of Qatar
• Qatar is connected to over 140 international destinations, through Qatar Airways and Hamad International Airport (HIA)
• Hamad Port is one of the largest green ports in the world, stretching over 28.5 sq. km

Qatar offers a set of incentives for expatriate labour:

Early indicators are signaling robust economic activity and strong business conditions. The economy is expected to record strong growth thanks to favorable hydrocarbon prices and increased demand during the 2022 FIFA World Cup. Cup.

Qatar’s S&P rating is AA-, Moody’s Aa3, and Fitch AA-, displaying a stable outlook.

Qatar is a key contributor to global energy security as the largest exporter of natural gas globally. Qatar’s top five export partners include China, India, South Korea, Japan, and the UK.

FDI markets estimate ~QAR 4bn worth of projects in 2021, a 33% increase compared to the previous year.

In 2022, Qatar recorded the highest total investment in the region, attracting USD 23.7 bn worth of projects. According to fDi intelligence, Qatar ranked 1st globally in terms of investment momentum for 2023.

The average monthly rent for a one-bedroom apartment varies from $1,118 to $1,763. Whereas the average monthly rent for a three-bedroom apartment lies between $2,130 and $3,137.

Qatar has over 207 private schools offering a comprehensive and integrated curriculum, and over 332 private schools offering various curricula – like the International Baccalaureate (IB), British curriculum, Indian curriculum, among others.

Qatar offers a multimodal transport system, including the:

• Doha Metro, a state-of-the-art automated rail network with single fares of QAR 2 (Standard)
• Mowasalat (Karwa) Public Bus Service with fares attractively priced from QAR 2.50 - QAR 9
• Mowasalat (Karwa) Taxi Service
• Lusail Tram with single fares for QAR 2

Qatar provides world-class healthcare through 27 regional Primary Healthcare Care Corporation Centers (PHCC), 12 public hospitals run by Hamad Medical Corporation (HMC), and over 20 private hospitals and clinics.

To apply for a Qatari Driving License, you must be a resident in Qatar, at least 18 years of age.

To apply for a Qatari Driving License, simply present the required documents to the traffic departments located in driving schools.

Documents include:

The license fee is QAR 250 for non-Qataris (valid for 5 years), and QAR 300 for heavy vehicles (valid for five years for non-Qatari). Additional fees apply for driving and vision tests.

Qatar is home to an innovative and advanced banking ecosystem – offering digital and mobile banking for users to seamlessly transfer and transact online. There are around 18 banks operating in Qatar through 202 local branches and about 20 exchange companies.

To open a bank account, the following are typically required: