Setting up a secure business in the Middle East: How to do it cost-effectively
We’ve noticed lately that we’ve been getting asked a lot about the true cost of setting up and managing a business in the Middle East, particularly when trying to balance concerns around security and business continuity.
Here, we’ve answered these two big questions about cost and security:
WHAT IS THE MOST COST EFFECTIVE WAY TO SET UP A BUSINESS IN QATAR?
A new business setup will always face a variety of costs, which you can read more about here.
On a general level, there truly is no simple, straightforward answer to this question. The costs associated with each business type, industry, and chosen activities differ greatly from company to company.
However, some of the things that could affect cost include office space requirements, government costs, and license approvals, to name a few.
The best way you can go about saving money is by getting the help of a partner who knows exactly what’s involved in the business setup in Qatar, and who the best suppliers are, so you don’t waste money on unnecessary processes and procedures. Taking this direction can also help you avoid potential issues that come with opting for the ‘cheapest’ but not always the best route for your business long-term.
Keep reading about the Cost of Doing Business in the Middle East, to find out more about what expenses you can expect to arise as you venture into this market.
WHAT IS THE MOST SECURE WAY TO SET-UP A BUSINESS IN QATAR?
The most secure way to set up in Qatar is through the Qatar Financial Centre (QFC) as you are eligible to maintain 100% foreign ownership under this jurisdiction. However, this option is only available to selected industries and is not accessible for all foreign companies. If in case you are eligible to set up within the QFC, you can expect to pay higher government and license fees, so again, all aspects must be strongly considered before selecting the right path for your business.
Second to that, choosing a trustworthy local Qatari partner who is completely transparent in everything they offer, will ensure that you have a secure business set up and partnership agreement which protects both shareholders and will ensure business continuity in face of adversity. However, it’s important to note that your chosen local partner will take on 51% shareholding of your business, which you can read more about here. A knowledgeable local partner will also help you to anticipate possible risks in the future so that you don’t run into complications in the future; they will ensure you stay safely on the right side of the law.
TIME TO GET STARTED?
Whether you want to find out more about what it takes to start a business in Qatar or the UAE, Qatar or UAE Visa Services, or you’re wanting to discuss local partnership options: at Fusion Middle East, we’ve got you covered.
Contact us today to find out how we can help your business with a free, no-obligation consultation. For more info in the meantime, check out our handy blog post on 4 Tips for Business Success in Qatar.
Fusion Middle East has over 50 years combined experience working in the local market and has well-established network connections and processes, which ensure that you are up, and running in the shortest time possible. Working alongside an experienced partner will help you to anticipate any challenges and react quickly in the case of governmental changes to local regulations.
While there are many routes that a foreign business can take when setting up in the Middle East, in our experience, it’s faster, cheaper, and safer to seek the assistance of an experienced professional service. To take a look at what some of our clients have to say about us, click here for more.
Qatari & United Arab Emirates laws and processes related to setting up a business are subject to change. We strongly advise that you always speak to a professional Company Formation Specialist to seek reliable advice prior to starting your own business venture.