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Posted On: 10 January 2020 09:55 am
Updated On: 10 January 2020 10:20 am

Government studying canceling fees to register companies

Leena Chung
Leena Chung
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Company-registration

H.E. Minister of Commerce and Industry Ali bin Ahmed Al Kuwari said that they are currently studying lifting the fees required to register companies, in addition to lowering tariffs and port fees to provide more incentives to the private sector and improve Qatar's global ranking in international indicators in that regard.

H.E. the minister was speaking during a ceremony announcing the digital transformation of the process of registering new companies and said that the new incentives come following the directives of the country's wise leadership to improve the business environment in Qatar and enhance its reputation as an ideal investment destination in the region and the world.

His Excellency noted that the digital transformation of the ministry's services reaches today the process of establishing new companies, which will no longer involve paperwork starting the middle of this month. The only exception will be made for people with disabilities who might find it easier to carry out the process electronically.

His Excellency said that launching phase 1 of the one-stop-shop in September of last year aimed to connect all designated institutions and authorities, in order to facilitate the process for investors, which would ultimately attract more investments.

H.E. the minister highlighted that the State of Qatar has improved its position in many international business indicators over the past few years and said the country looks forward to improving its ranking further, especially with the launch of the one-stop-shop, stressing the role of the private sector in showcasing the ease of completing the services provided by the government.

His Excellency noted that the ministry undertook a number of initiatives that were dedicated to improving the local business environment, including extending the commercial register for a maximum of five years.

His Excellency stressed the government's commitment to facilitating the process for investors and businessmen, highlighting directives from HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al-Thani to work in resolving the challenges facing investors in cooperation with the private sector.

Qatar Chamber Chairman H.E. Sheikh Khalifa Bin Jassim Bin Mohammed Al-Thani praised the latest feat in digital transformation, saying it will save a lot of time and effort for investors and businessmen who want to start new companies in Qatar.

He also said that the one-stop-shop gave a boost to Qatar's efforts of attracting local and foreign investments, and noted that phase one allows investors to apply and pay fees electronically before obtaining the license.

Meanwhile, deputy head of the committee coordinating committee for the Management of the single window (one-stop-shop) system Nasser Omair Al Nuaimi said that phase one includes a smart system for managing requests, electronic signatures, among other things that enable the investor to complete the registration process anywhere inside and outside Qatar. He added that the goal of the initiative was to facilitate the process for investors.

He pointed out that the new system allows the investor to know the time required to complete the transaction, the true cost of establishing the company, sign the contracts required to found the company issue the commercial registry electronically. It also allows investors to see the requirements of the various authorities involved in-licenses, which have become associated with this window.

Source: QNA