Doing Business in Qatar
Are you looking to setup a business in one of the fastest growing economies in the world? Do you have a project in Qatar and need to mobilize a team? Are you an expat considering a move to Qatar?
This guide will put you on track to find the suitable option and know more about life and work in Qatar.
Economic growth in Qatar is due to a number of different factors: hosting the FIFA World Cup 2022, and along with the implementation of the National Vision 2030
With massive infrastructure projects in the works, include a new metro system in Doha and a national and international rail network by 2016 to support the rapid growth in population.
Education City, a Qatar Foundation initiative, features branch campuses of some of the world's leading universities.
International universities with a resident faculty in Qatar include:
Qatar National Vision 2030
Qatar’s National Vision 2030 provides the framework under which the National Development Strategy operates. It defines the long-term outcomes and goals the country wishes to reach, while the Strategy implements several initiatives to carry them out. The National Vision foresees all its goals to fall under 4 fundamental “pillars”:
- Human Development
- Social Development
- Economic Development
- Environmental Development
The National Development Strategy aims to balance the needs of the future generations with those of the present ones to ensure that the Qatari society retains their own ambitions and identities as the country develops over the next decades to come.
Main Benefits of Doing Business in Qatar
The benefits of doing business in Qatar are numerous.
With its centralized location in close proximity to the biggest oil producing nations of the world, Qatar provides the ideal setting for any global outfit that wishes to do business with the wealthiest countries on Earth. Setting up a business in Qatar
is not without its drawbacks, of course, but it's a lot easier to get your startup going in Qatar than in other neighboring countries. It makes perfect sense to headquarter your business in Qatar
and reach out to other Middle Eastern and Gulf Community Council (GCC) countries from there.
What Type of Business Opportunities are Available in Qatar?
The possibilities are almost limitless in Qatar, given the fact that a countless number of industries are rapidly growing here. Everything from information technology to culinary pursuits and tech products like smartphones is in high demand in this thriving commerce hub. And let’s not forget the FIFA World Cup 2022 with all the infrastructure requirements that comes with it.
Qatar is home to a number of international business consultancy firms who can give an in depth insight onto the various economic sectors in Qatar and help you choose the right opportunities to invest in.
Type of Company Structures Available in Qatar
Qatar has one of the best business and financial regulatory environment in the world, providing investors with a number of options when it comes to market entry and business setup. For more information on identifying the correct structure for your company in Qatar and the procedures and requirements read our previous blog posts:
Qatar Trade and Business Partners
· Primary exports - commodities: liquefied natural gas (LNG), petroleum products and fertilizers
· Primary export partners: Japan, South Korea, Singapore, India
· Primary imports - commodities: luxury goods, foodstuffs, machinery and transport equipment, chemicals
· Primary import partners: United Kingdom, Uinted States, Japan, Germany, Italy
Business Opportunities in Qatar
The possibilities are almost limitless in Qatar, given the fact that almost every industry is experiencing rapid growth.
Everything from information technology to culinary pursuits and tech products, such as smartphones are in high demand in this thriving commerce hub. And let’s not forget the FIFA World Cup 2022
with all the infrastructure requirements that comes with it.
Qatar is home to the top international business consultancy firms who can give an in depth insight onto the various economic sectors in Qatar and help investors choose the right opportunities.
Business Etiquette in Qatar
Here in Qatar the work pace is slightly slower than what most expats may be used with direct personal interaction as the preferred method of communication. Keep in mind that the workweek is beginning Sunday and ending on Thursday.
Instead of getting right to the point, Qataris like to take time to get to know and establish personal relationships with their business partners.
During these informal conversations, remember to enquire after the well-being of your business partner’s family, as the family always has highest priority in Arab culture. Avoid enquiries that are directly related to female family members of a Qatari businessman.
Although Qataris are used to dealing with foreign business partners and negotiating business matters in English, Business should always prepare material and paperwork in Arabic.
Qataris like to invite their business partners to their house for lunch or dinner. Men and women are usually separated during these events. Expats should never refuse any of the food or beverages offered to them,
Before making your move and the best way to get answers is to seek the advise of experts to help you develop your action plan, resources management and support, and familiarize yourself with laws and regulations to ensure compliance.
To learn more about how our consulting services can help you discover and unlock new and exciting business opportunities, contact QShield today!