1/28/2020 1 Comment Starting your business in QatarStarting and launching your business in Qatar can often be seen as a long, confusing, expensive and arduous process. The information available can sometimes be ambiguous and disconcerting, and to make matters worse, contradictory advice is often received from different people. I recently registered my company in Qatar, so, as someone who went through this whole process, I thought that sharing my experience could perhaps shed some light on the rest of you on how to do the same for your own business enterprise.
If you are an aspiring entrepreneur wishing to start a business in Qatar, we assure our assistance in getting approvals from various government departments and municipality by following the specific requirements of the type of company you would like to launch in Qatar. This piece focuses on registering a limited liability company LLC or WLL in Qatar. It is the most common and de facto form of company in Qatar. In an LLC, most of the company has to be owned by Qatari citizens, and its participation is around 51%. It does not matter if it is a Qatari shareholder who owns 51% or several Qataris, the majority must be owned by Qatar. However, before moving forward, a disclaimer: this article is not designed to be seen as legal advice, but as a first-hand experience of someone to start a business in Qatar. So, if you are planning to incorporate your business yourself, this will be a good guide. Otherwise, there are quite a few companies that offer incorporation services, and they would take care of everything for you. To begin, you must obtain the following three documents, in the following order, to fully incorporate and perform all the activities necessary to manage and grow your business in Qatar. I. Commercial residence, more commonly known as CR. II Commercial license, which refers to a legal office space under its CR. III. Computer card (also known as Signature Card) I. Commercial Residence (CR) The CR is the first document you need to acquire. It is issued by the Ministry of Economy and Commerce (MEC), and is generally the fastest to obtain. A CR is nothing more than a document that states that here there is "a legal entity with name x that is owned by these shareholders." You must perform the following steps to obtain a CR: Step 1- Commercial name You must first obtain a business name for your company. Hopefully, the one you want has not been taken. Please note that if your desired name does not have an Arabic meaning, you will have to pay an extra QAR1,000. Step 2- Articles of incorporation Once you have a business name, you must write your articles of incorporation, listing all shareholders and their ownership interests. Articles of incorporation are a standard document that lists all shareholders, their property, rights, etc. A little tip here: use the standard incorporation item template and complete it with your name and property details. The template is very rudimentary, and ideally, you would like to add / change a lot in it. But if you submit articles of incorporation written by your attorneys, the MEC may take longer to approve it and, therefore, will slow down your process. Instead, use your templates to order your RC and other things, and then have your lawyer modify it according to your needs by contacting the Ministry of Justice. Step 3- Issue the CR Once you have your business name and articles of incorporation, you can send them so that your company receives a CR. At this point, you will be asked about your business activities, since each business activity has its own specific charges. The price can vary from QAR1,500 / year to QAR 7,000 / year. Basically, you must tell them what your company intends to do; For example, it may be website development, commercial contracting, clothing sales, etc. Now you probably won't find the commercial activity that describes exactly what you do, if so, choose the one that describes what you do closest. Keep in mind that you can also have more than one business activity associated with your company. But, also keep in mind that some business activities may require prior approval. For example, if you are opening a pharmacy or medical clinic, you need the approval of the Ministry of Health. If you are opening a school, you need the approval of the Supreme Council of Education, and so on. However, if you are opening a standard e-commerce business, a commercial company or a marketing agency, then you do not need approvals for such companies. However, keep in mind that these requirements are subject to change, so it is best to consult directly with the MEC. Then add your business activities, pay the respective fees for each of them, pay the processing fees and have all your shareholders there in person to verify your identity. And behold, then your CR will be issued to you. Congratulations if you've come this far! Note that the CR is generally valid for only one year, so you must renew it every year, having said that, the renewal process is easy to do, since it is online. With your CR, this is what you can and cannot do:
II Commercial license After receiving your CR, you must obtain a business license to have an office space approved by the MEC to conduct your business activities. Obtaining a business license is usually the most difficult part of this process; It may take some time to do so, so plan your time accordingly. The first step here is to complete the required application form from the MEC website and send it to the MEC, along with the following documents:
1 Comment
The steps for the formation of companies in Bangladesh as foreigners are detailed below. This is not like the registration of a local RJSC stock company. As foreigners and locals, both companies will be followed by the Companies Act of 1994. There must be 2 shareholders, one of them is president and the other is managing director. Contact the consulting firm S&F, as they are experts to handle the configuration of a foreign stock company since 2012. Legal documents are the basis of a business, which must be solid. There is a proverb that says a local shareholder (Bangladeshi) must start LLC, that is FALSE. As foreigners they can have full shares of the company and can also open a subsidiary company in Bangladesh.
The company registration steps are:
Company registration and licenses Time Registration of a limited company will take 10 days if the bank letter is handled faster. Other time licenses as commercial license-7-10 days. The can number can be administered the same day. VAT registration takes 7 to 10 days as a new policy. Previously I could drive for 3 days. Other licenses or permits such as the Chamber of Commerce membership will take between 3 and 7 days. Export and import: it takes 5-7 days to obtain licenses. Fire licenses can be managed for 7 days. The factory setting permission may need 3-5 days. Secure the copy of the plan by architecture in the amount of Taka 100000 to the previous one. Advantage As everything is possible in Bangladesh, it is easier to generate income. The cost of labor, the cost of operation and the cost of living are cheaper than many cities in the world. Other support goods, accessories and materials are available nearby. Anything can be obtained for money if you know where you will pay. The tax advisor will provide comfort and inspiration for the investment. Disadvantages Nothing is manageable without extra money in Bangladesh. Life is insecure and the transfer of money from Bangladesh abroad is restricted and no bank will allow it. The income tax rate is 30 percent or more. Heavy traffic will make life difficult unless you are used to it. 1/20/2020 1 Comment foreign-companies-in-mauritius The Companies Law defines a foreign company as a corporate body established outside Mauritius. All foreign companies that have a place of business or conduct business in Mauritius must be registered with the Registrar, including foreign companies that establish or use a stock transfer office or a stock registry office in Mauritius or manage, administer, manage or handle assets in Mauritius as an agent or personal or fiduciary representative, either through its employees or an agent or in any other way (§274 (a)).
“Carrying on Business” in Mauritius A foreign company will not be required to conduct business in Mauritius simply because in Mauritius (§274 (b)):
Application Procedure A foreign company cannot conduct business in Mauritius unless it has registered its name with the Registrar. The name, or altered name, cannot be one that, in the opinion of the Registrar, is undesirable or is a name (or type of name) that the Minister has ordered the Registrar to not accept for registration, unless allowed otherwise only with the written consent of the Minister. A foreign company cannot use any name other than the one registered in Mauritius (§275). The Mauritius company registration process is simple, no matter whether you opt for company GBC1 (resident company) or GBC2 (IBC). If the company is structured properly, it can be an effective, inexpensive, legally appropriate in tax optimisation company for your business. A foreign company is required (§283):
Within a month after establishing a place of business or conducting business in Mauritius, a foreign company must submit an application to the Registrar:
1/13/2020 2 Comments Setting up a business in MauritiusThe Companies Act of 2001 refers to four different types of companies:
Private Company: a private company that cannot be offered to the public, with the number of shareholders not exceeding 25. One-person Company: this is a company with only one shareholder who is also the sole director of that company. The company is by default a private company. Public Company: a public company listed on stock exchange markets. There is no limit to the number of shareholders. Global Business Company: companies involved in the offshore sectors (GBL1 & GBL2) Different legal statuses Foreign investors have various options when setting up a company: Limited by shares: A company limited by shares is formed on the basis of having its shareholders' liability limited to any unpaid amount on the shares respectively held by the shareholders Limited by guarantee: A company limited by guarantee is a company formed on the basis of having its shareholders' liability limited by its constitution to such amount as the shareholders may respectively undertake to contribute to the assets of the company in the event of winding up Limited liability for actions and guarantees Procedures To register the company, visit the Registrar of Companies (ROC), either in person or online, in order to determine if your proposed company name is available or not. The cost is approximately Rs. 3,200, not including the Rs. 100 needed to reserve the company name. Once that's done, you are required to fill out a form with all the details of the proposed company. A Business Registration Card with the company's number and the Certificate of Incorporation will be delivered upon approval of the application form and receipt of the relevant documents. starting a business in Mauritius must make a proper business plan. This is done to attract investors so that they can get a basic idea of what the business is all about. Subsequently, the ROC will inform the Mauritius Revenue Authority (MRA), the local authorities (the Municipal or District Council), and the Ministry of Social Security of the incorporation of the company. The company will then be registered with the MRA and the Ministry of Social Security. Once the company is registered, the ROC also will inform other competent authorities (the police, fire services department, Ministry of Health, Ministry of Environment) of the company's incorporation, as well as of the start date of the business' activities. You are required to go the nearest Municipal Council with the Certificate of Incorporation of the company, along with a letter requesting the production of a company seal. You will also be required to pay your licence fees to the local authorities, which must be paid within the first 15 days following the start of the business' activities and must be paid in two equal installments during each financial year. The first deposit should be paid before the 31st of January and the second by the 31st of July. The local authority reserves the right to impose a 50% penalty of the whole amount which has not been paid within the prescribed period. The following documents need to be provided during the first installment of the license fee (as from Rs. 2,500):
The company then needs to be registered with the Ministry of Social Security along with the relevant documents upon submission of the following:
There are several industrial incentives to Qatar company registration. Qatar has a large skilled workers population. Along with this, the costs of labor is relatively cheap, and there recruitment procedures are simple, This process requiring company registration fees in Qatar are QAR 1,000 for an Arabic name and QAR 1,500 for a non-Arabic name. The investors would, at this stage, open a bank account and deposit he paid-up capital as determined by the shareholders An additional advantage, and which makes the country popular to foreign employees, is the fact that there is no income or social security deductions required on wages and salaries.
Business entities which cannot be completely owned by foreigners include: a limited liability company, a free zone company, a Qatar professional services company, and a foreign branch office and foreign representative office. A limited liability company is the most commonly chosen type of business entity in Qatar. It is required that this type of business entity have a minimum of one director and two shareholders (a Qatari national to be shareholder and/or visa sponsor). Free zone companies include technology companies and financial services companies. This entity is legally excluded from having to pay tax. Typically only large multinational companies are able to form free zone companies. Qatar professional services companies include industries such as: legal and accounting consultancy, IT and management consultancy, and marketing consultancy. There must be a Qatari national who is appointed as a local service agent to sponsor residence visas. The main role of this service agent is to obtain licenses, visas and labor cards. A foreign branch office is basically a branch of a foreign company which is registered in Qatar due to the company completing a specific project through a government contract. The project must focus on one of the following areas: engineering, tourism, construction, industrial, or agricultural. A representative office is 100% foreign owned and controlled, and is therefore prohibited from engaging in direct sales within Qatar. This type of business entity is only allowed to take part in promotion of the business and the parent company, and market research. It is mandatory for a Qatari agent or distributor to be hired to sell goods ad provide services to local companies. Binding arbitration is a method of dispute resolution which is common used throughout Qatar by foreign entrepreneurs. There are three locations for dispute arbitration in Qatar, It is required that a company which is a formation of a limited liability company submit an annual tax return. A tax return should be accompanied by audited financial states if the annual profits are greater than QR100, 000. A second requirement, is that all companies must submit an annual return which confirms certain details of the company, such as: named and addresses of all directors, address of principal place of business, and details of shareholders and their shareholdings. Since all business activities which take place in Qatar receive government approvals, permits and licenses, Any person who had an experience of visiting Sri Lanka might know how beautiful the islands of Sri Lanka are. Moreover, it is considered as a country of surprises and fun. It is also considered the cultural, industrial, and commercial capital of Sri Lanka. The real estate agencies of Colombo are well known all over the world for their rental facilities. Having a building or property on rent is much easier in Colombo due to the real estate agents who are highly professional in their services. Anyone willing to buy an office on rent can take help from real estate agency of Sri Lanka offices. For this you need to find the Sri Lanka offices working real estate agencies that can help you in buying an office on rent with the affordable rents that are reasonable and economical.
Any person who desires to have a good business or job or anyone who wants to expand his/her business needs to rent office in Sri Lanka. It is believe that Sri Lanka offices is a perfect place for working and earning money. This is due to its better availability of working offices , more particularly in Colombo. While buying an office on rent, the most important things to be considered are the rent of office as well as its location. An economical rental office is the best choice for people who are just staring their business. Most economical offices in Colombo can be bought with the help of real estate agents since they have information about all rental offices in location and about their rents also. The location of the office matters a lot in its value. If a person wants to have a rental office at any specific location, real estate agencies can provide them with all the options of offices in that particular location due to their better searching and knowledge. However, the most difficult task for buying rental offices in Colombo is the searching process. Common people have no idea about where to find an office with reasonable rent. A real estate agent does know all this and can provide the best options of offices to their clients. Furthermore, renting an office in Colombo can be a great risk in future if all the deals are not made by legal ways. Proper deal must be made by all the necessary paper work and signatures of buyer as well as seller and real estate agent involved in deal. Why do Malaysian companies need a signboard license?
Safeguard your business in Malaysia by having a valid signboard license to avoid having unwanted disturbance and frustration on authority issues Make a wise decision to getting your signboard a valid license Making a sign in Malaysia is very easy. First, get a premise to run your business program. Second, obtain a Business license for your facilities. Third, obtain a license for your company's sign. It is crucial to avoid unnecessary visits by local city officials to disrupt the flow of your operation and impact bad feelings towards your customers. The worst is a citation bill. Therefore, it is better to obtain a license to avoid these disturbances. The information required to complete the permit varies from place to place, but, in general, you should inform your local city council about the construction and installation plans you have in mind. For example, in Kuala Lumpur, submit your sign design work to Dewan Bahasa dan Pustaka for verification and approval of the proper use of Bahasa Melayu texts on the sign. Once the design of the sign is allowed, you must visit the local licensing office of the town hall, for Kuala Lumpur, it is Dewan Bandaraya Kuala Lumpur DBKL to obtain a signboard license in Malaysian "lesen papan iklan". In case you opt for more than one signboard like if you wish to have a multiple signboards system, for example a main signboard and a smaller double-sided signboard, you are required to inform the city hall and pay additional fees for the second signboard. This saves you time and avoid running up and down for few times. You also need to find out whether or not your desired signboard is eligible to be installed on the premise. Signboard position and size will also matter when comes to this point. That will be solved when the officers visit your premise and advice you on your signboard position matters. Once your application has been approved, you will be informed the amount you need to pay for your signboard with an official receipt Applying for a signboard license must be accompanied by the following documents: a) A copy of the company's Memorandum and Articles of Association (M&A) and Forms 9, 24 and 49 b) A copy of the rental agreement or the contract of sale of the company's commercial premise c) A copy of the location plan of the company's commercial premise d) Photographs showing the location of the company sign e) Signs of the sign indicating its design and colors. What are the excellent small business investment opportunities in Mauritius?
What are the main ideas and business opportunities in Mauritius for small entrepreneurs and investors? Do you want to start a business in Mauritius with little capital? Are you Mauritian and looking for a small business where you can start with little or no money? Are you an entrepreneur looking for small businesses to invest? Do you have a small amount of money but have no business idea? There are many small business opportunities in Mauritius. Mauritius is a land of great opportunities, especially for those who are willing to take the plunge. But despite the rapidly growing economy of the countries, employment opportunities are still limited for a native, which has put pressure on Mauritius to create their own employment opportunities. Mauritius is a country located in southern Africa with more than 1 million citizens. . The good news is that starting a profitable business in Mauritius is not a difficult task if you are well equipped with the fundamental resources and knowledge. As the economic landscape changes, Mauritians are testing a variety of lucrative business opportunities. To start up a company, an entrepreneur must evaluate the commercial viability, the state of the market and future possibilities. However, first of all, a company requires a persuasive idea and capital to incur the initial expenses. The beauty of this blog post is that little or no capital is required to launch the business ideas that we will discuss. As you read this list, you will discover some of the best low capital business ideas in Mauritius that are proving to be very profitable. If you are in Mauritius or are a Mauritius / Investor who plans how to start a business in Mauritius and what business to start, then there are 10 profitable business opportunities in Mauritius that can start with little capital; Profitable / lucrative businesses that you can start in Mauritius with little capital Here is a list of the most successful small businesses in Mauritius with little capital investment. 1. Fast food corner on the road: This is an old business tried and tested. If you want to reap the rewards surely, but steadily, food is an excellent commercial domain. Food is an essential need and its demand can never decrease. Therefore, it is considered an activity to make money. If you work hard and want to test your culinary skills, you can opt for this commercial option. Maintain quality, good portions, be Outstanding and create your own brand. Follow these simple tips and new visitors will quickly become regular customers. 2. Office supplies: Office employees are generally totally absorbed in their work, work long hours and often have little time to buy. Contact your local offices and ask if you can be an office provider. You can provide everything you need, from office accessories to fashion items and groceries. The only advice: don't be greedy, But honest and fair with their prices. The key is to keep them happy so you can get a steady income and get references. Don't look to get rich quickly. 3. Rice cultivation: Rice production is considerably low in Mauritius compared to its consumption rate. Therefore, rice cultivation can be a guaranteed idea to start a business and a fruitful source of profit. 4. Website design: This is growing rapidly to become one of the most favorable and budding business domains for young entrepreneurs, not only in Mauritius, but also worldwide. All you need to have is a deep and clear understanding of online processes, marketing strategies, SEO tactics and legal guidelines. This is profitable, futuristic, lucrative and customer focused. 5. Internet Business: Can you imagine this world without the Internet? Surely not, you and we will not like that. Mauritians and Africans as a whole are avid Internet users. If you can provide internet connection at fair prices, include occasional offers and advertise intelligently, you could earn a lot of money. 6. Tutoring: Education is a fundamental right, but Ironically, there are not enough good schools to offer them. Not only Mauritian, but all the parents of the universe want their child to have the best education. As there are no high-quality schools in Mauritius, tutoring can bring you high income. Don't limit your options to academics Tutoring Turn your hard and soft skills into a lesson. For example, can you play a musical instrument? Can you draw or design jewelry? Are you a food lover or cook? Are you highly skilled in a specific sport? Web-page design? You may be passionate about creative writing, dancing or even farming? Tutoring is an excellent small business in Mauritius to earn money. You can decide to do it part-time or full time. Before starting the Tutoring, make sure you have exceptional knowledge and experience in your specific area/niche. 7. Snail breeding: If you establish yourself as a snail retailer, you are surely on your way to immense wealth. Snail farming is an effortless task since it requires less spending on food and housing. They reproduce at a faster rate and Mauritius markets are always willing to pay for them. 8. Poultry farming: According to our research, it is said that poultry farming is one of the cheapest and unique businesses that one can start in Mauritius. Poultry farming is expanding as quickly as possible, This sector has what it takes to be successful. Birds are easy to breed; They reproduce quickly and mature quickly until the market weight is reached. You can start small and quickly increase what makes poultry farming a profitable business in Mauritius. Sell eggs and meat in the market and fill your pockets with cash. 9. Second-hand products: The second-hand business in Mauritania is increasing day by day. As a growing sector and a good business opportunity in Mauritius, it helps to increase the life cycle of products. Who doesn't like to spend less something really superior in quality? Mauritians can easily pay anything for second-hand products if they are suitable for use. For this business, you must understand what people want to buy and establish connections with suppliers that can provide the products. Start small, focus on quality, load Reasonable prices and build your customer base. The key is to keep your customers. happy. 10. Retail sale of palm oil: Unlock big profits by becoming a supplier of palm oil, a liquid used in large quantities in Mauritius. Store the precious oil during peak hours and sell it during the off season. However, first learn: where to buy, where to sell, how to store and how to resell. Demand for palm oil can never fall in Mauritius and its profits too. All these low capital commercial companies have great potential and the ability to help you generate a stable income, and if done correctly, you could earn millions. Are you tempted by a new professional adventure in Qatar? Establishing a business in Qatar is possible for foreigners, provided they comply with certain regulations and complete the necessary paperwork. Qatar is becoming more open to foreign investment partners, but there are still strict rules that govern them. However, many international companies, as well as small and medium-sized companies, have been successfully established despite restrictions.
Types of companies First of all, you should know the different types of companies that are allowed in Qatar, namely the Limited Liability Company, the Standard 68 Company and the Sole or Proprietary Shareholder Company. In the case of the Limited Liability Company, a minimum capital of 200,000 QR is required. You will also need a Qatari partner that will own 51% of the company's shares, without involving any state company. In addition, the company is not authorized to perform banking, insurance or other investment related activities. As for taxes, the company will have to pay a 10% fee, based on its earnings during the fiscal year. To open a Section 68 Company, you will need a partnership with a state company or a company whose majority of the shares are owned by the state. Please note that you can have more than 51% of the shares in case of approval of the Council of Ministers of Qatar, who will also determine the legal and fiscal obligations of the company. Also read, Top 10 Small Business Ideas in Qatar 2020 The sole shareholder or the owner company does not require a local partner. However, tourism, agriculture and health-related activities must be justified before the Qatar Ministry of Economy and Commerce. A minimum capital of QR 200,000 is also needed. As for their obligations, they are the same as those of the Limited Liability Company. Good to know: Before continuing, you must determine in which zone you want to operate your company, either in the free zone or outside the free zone. In fact, regulations differ for these two zones. In the free zone, foreigners can have 100% of the company's shares. You can import duty-free goods and services and are authorized to repatriate capital and profits without any restrictions. As for the staff, the company can also sponsor foreign employees. Proceedings Once you understand the conditions and regulations related to the creation of a company, you can address the procedures with the assistance of a lawyer. First, you must register your company name in the commercial inspection department of the Ministry of Economy and Commerce. Please note that rates apply. From then on, you must send the company bylaws to the same department for validation. Once you have finished this step, a bank authorization certificate will be issued. You can then open a bank account to deposit the minimum capital. Then, the bank will give you a receipt that you must show to the Ministry of Justice for authentication, along with the identity documents of your partners, authenticated copies of the company's articles, among others. Company documents must also be signed by the partners before validation by the ministry. Then you must return the complete file to the Ministry of Economy and Commerce, which will be responsible for the commercial registration. Note that the rates applied vary according to the amount of capital invested. Once all these formalities have been completed, a Commercial Registration Certificate will be issued within 7 business days. Important: You must also apply for a commercial license at the municipal counter closest to your company's facilities. The documents to be produced are your company's business registration certificate and your lease documents. Finally, you must request a Tax Identification Number (TIN) from the Ministry of Finance. Sendirian Berhad Company (Sdn Bhd) in Malaysia The Sendirian Berhad Company (Sdn Bhd) in Malaysia is a limited private commercial entity that can be initiated by both locals and foreigners. All companies in Malaysia must be registered with the Malaysian Business Commission (SSM). The SSM is the governing body that oversees the companies that operate in Malaysia, and an Sdn Bhd in Malaysia is no exception to the rule.
Why register a company Sendirian Berhad, Sdn Bhd in Malaysia? There are several benefits to starting a business in Malaysia. In addition to the strategic location of the country, which places it near several other important Asian markets, Malaysia was also ranked by the World Bank in 2016 as the 18th easiest country in the world to do business. 100% foreign ownership is also allowed for an Sdn Bhd company in Malaysia, which has attracted many foreigners. In addition, there are no restrictions in Malaysia when it comes to the repatriation of capital gains, dividends, royalties and profits. With double tax treaty agreements with 68 countries, low initial costs and local rents, Malaysia is one of the most promising business centers in Asia for foreigners looking for their next big opportunity. An Sdn Bhd company is among the most popular business entity options in Malaysia because it is considered a legal entity separate from its owners. As one of the most established commercial entities in the country, its excellent reputation has made the acquisition of a loan much easier. Sdn Bhd companies in Malaysia come with commercial continuity, which means that the business can continue until there is a valid reason why you need to cease your business operations. Since an Sdn Bhd company is considered a separate legal entity, the owner's personal wealth is protected, which is one of its main advantages. As a separate entity, business ownership is transferable, which contributes to its continued existence. This commercial entity also has an exposure to low-income tax risk, which many entrepreneurs consider this to be one of the best commercial entities when it comes to establishing a company in Malaysia. With proper tax planning, it is easier to reap the tax benefits that Malaysia has to offer if you establish an Sdn Bhd company. Sdn Bhd companies in Malaysia have a much better market perception, since it is considered a stable and transparent type of business entity, thanks to the strict reporting requirements that it must meet. Is a Sendirian Berhad company different from a Berhad company? If it is. An Sdn Bhd company in Malaysia differs from a Berhad (Bhd) company in several ways. On the one hand, an Sdn Bhd company can have from 2 shareholders to a maximum of 50 shareholders. Sdn Bhd companies are also made up of small or medium-sized companies, also known as SMEs, while Bhd companies are generally made up of much larger organizations. |