Setting Up Business in Qatar
Content
Setting up Business in Qatar – 10 key points
October 2011
Winner of ‘Qatar Law Firm of the Year 2009’ at the International Financial Law Review (IFLR) Middle East Awards
Contents
Foreign Investment restrictions Choosing the most appropriate business medium Company structures Commercial registration and other formalities Taxation Property Commercial contracts – choice of law and jurisdiction Intellectual property Setting up in the QFC Staff and local customs Simmons & Simmons 2 3 4 6 8 10 11 12 14 16 17
Qatar is one of the smaller Gulf states in terms of population and geographical area, but boasts the third largest natural gas reserves in the world. This abundance of natural resources coupled with recent legal liberalisation, economic diversification and a burgeoning economy means that there are many opportunities for investment in Qatar. These opportunities have been greatly enhanced by Qatar being chosen to host the Football World Cup in 2022. Foreign investors are welcomed and various incentives are available to attract foreign capital, including tax and customs duty exemptions. Foreign investors can transfer their investments and profits can be repatriated as can proceeds of sale and capital on liquidation. Qatar is very much a market where local knowledge is key. We set out below 10 key points to consider when doing business in Qatar. Please contact Simmons & Simmons Middle East LLP (“Simmons & Simmons”) if you would like more detailed information. Contact details for some of our Doha based personnel can be found at the end of this note.
1
Foreign Investment restrictions
Foreign
investors may only invest in Qatar in accordance with the provisions of the Foreign Capital Investment in Economic Activities Law (No. (13) of 2000), as amended. investors may invest in all parts of the national economy (other than those set out below) with a Qatari partner who must normally own at least 51% of the enterprise. exemptions apply in this regard, foreign investors may not invest in commercial agencies or, broadly speaking, real estate (for applicable exemptions to real estate investments please see section 6 (Property) below). Approval from the Council of Ministers is required for foreign investment in banking or insurance. Ministry of Business and Trade may permit foreign investors to own more than 49% and up to 100% of a company in specified sectors called the “Priority Sectors”, namely business consulting; technical services; information technology; cultural, sports and leisure services; distribution services; agriculture; manufacturing; health; tourism; development and exploitation of natural resources; energy and mining. capital is guaranteed against expropriation (although the State may acquire assets for public benefit on a non-discriminatory basis, provided full compensation for the value of the asset is paid). capital in public shareholding companies listed on the Qatar Exchange is limited to 25% in aggregate, unless the articles of association of such company provide for a higher percentage. foreign company which has a contract with the Government of Qatar or a quasi Government entity may register a branch office if it has entered into a contract in respect of a “government qualified project”. company formed by the government or a government entity, or by a foreign entity with the government or a government entity (known as an “Article 68 Company”) is not subject to the Commercial Companies Law (No. (5) of 2002), as amended to the extent that certain provisions of that Law have been excluded in the company’s Articles of Association. is a separate and distinct regime for establishing companies in the Qatar Financial Centre which allows 100% foreign ownership and has been put in place to attract international financial services companies (and some support functions) to come to Qatar. That regime is explained in outline in Section 9.
Foreign
Although
The
Foreign
Foreign
A
A
There
2
Choosing the most appropriate business medium
Incorporating a company
A
company is the normal vehicle where an on-going business is being set up. exemptions are available to attract foreign capital.
Various Except
for branches of foreign companies with government contracts and Trade Representative Offices or companies in specified sectors, most of the other cases will require a Qatari partner.
Branch office
Used
where a foreign company is performing a specific government contract in Qatar. by the Ministry of Business and Trade where the project is “government qualified”.
Authorised No
need for a Qatari partner.
Branch
is registered to perform the specific government contract for which it is registered and cannot undertake work for the private sector. will be fully taxable unless it is granted a special exemption.
Branch
Commercial Agency
The
foreign company does not establish a presence in Qatar, but instead, a Qatari agent is appointed to market goods and services within Qatar. agencies may be registered and are subject to the Commercial Agents Law (No. (8) of 2002).
Exclusive
Under
a registered agency, commission is payable on all sales of the products within the territory even if the sales are not due to the activities of the agent. of the agency will trigger compensation for the Qatari agent, including upon the expiry of a fixed term agency. agencies will be subject to the Commercial Law (No. (27) of 2006).
Termination
Non-registered
Trade Representative Office
It
is possible to register a Trade Representative Office by virtue of Minister of Economy and Commerce Decision No. (142) of 2006 regulating Trade Representative Offices. only be used to promote a foreign company in Qatar so as to introduce it to Qatari companies and projects, through marketing and promotions. not be engaged in selling or entering into contracts in Qatar. Business must be carried out by the foreign entity (where the contract can be performed substantially outside Qatar) or by a company or branch authorised to do business in Qatar.
May
May
3
Company structures
In addition to the list below, other possible legal entities under Qatari law include the Simple Partnership and the Joint Partnership. The participation of foreign capital in all companies is restricted to various levels. If a foreign investor is permitted to own 100% of the company (by the Ministry of Business and Trade as a result of investing in certain specified sectors), a single person company can be used as the vehicle for such investment.
Single Person Company
Minimum Only This
capital of QAR200,000 (USD54,950) which must be fully paid up.
one shareholder who owns 100% of the company’s shares.
type of company is often used by foreign investors who have obtained an exemption allowing them to invest in the Priority Sectors as provided for under the Foreign Investment Law. to the same legal provisions relating to limited liability companies unless specific provisions relating to single person companies apply.
Subject
Limited Liability Company
Minimum Must The 10%
capital of QAR200,000 (USD54,950) which must be fully paid up.
have at least 51% Qatari ownership unless an exemption has been obtained.
parties’ profit shares do not necessarily have to reflect their equity shareholdings.
of each year’s net profits must be kept within the company until the legal reserve stands at 50% of the share capital. not raise capital by public subscription and may not issue freely transferable shares or bonds.
May
Shares
may only be transferred after they have first been offered to the other shareholders by way of pre-emption, unless the other shareholders have agreed to waive their right. not accept deposits, carry out banking or insurance business or provide investment services on behalf of third parties.
May
4
Shareholding Company
There
are two types of shareholding companies: privately and publicly held (publicly held shareholding companies are usually listed on the Qatar Exchange). paid up capital must be QAR10 million (USD2,746,574) for an unlisted company and QAR40 million (USD10,986,295) for a listed company. of shareholders must not be less than five (or not less than 30 if listed on the Qatar Exchange). and Articles of Association are in a prescribed form and any deviations from such form are subject to the approval of the Commercial Companies Department at the Ministry of Business and Trade.
Minimum
Number
Memorandum
Article 68 Company
Must
be a shareholding company – the Qatari government, a Qatari government owned entity or a public corporation must own 51% of the shares or, upon the consent of the Council of Ministers, it may own less than 51%. Therefore, the foreign investor’s share of the company is a matter for negotiation but can be greater than 51%. outside the Commercial Companies Law to the extent that certain provisions of that law have been excluded in the company’s Articles of Association.
Falls
5
Commercial registration and other formalities
As part of the company incorporation procedures, Simmons & Simmons will use its own PROs (public relations officers or liaison officers) to carry out all the necessary registration formalities. However, once a company has been established, it will normally either employ a PRO or hire a PRO from a third party service provider. Such a PRO will be invaluable for obtaining residence permits, driving licences and telephone, power and water connections etc. and their renewals.
Company Formation
The following are required in order to incorporate a company and obtain a Commercial Registration:
Memorandum
& Articles of Association in Arabic which conform with the standard form provided by the Ministry of Business and Trade and have been approved by the Ministry; authenticated and consularised copies of the foreign company’s Certificate of Incorporation, Memorandum and Articles of Association and board resolution or power of attorney authorising someone to act on its behalf to establish a company in Qatar; from a Qatar bank indicating the deposit of the share capital at that bank (minimum of QAR200,000 – (USD54,950); Chamber of Commerce Registration.
Notarised,
Letter
Qatar
Once the company has been incorporated and the Commercial Registration issued, the share capital can be released to the company’s directors or the general manager for the purposes of running the company. The following licences must then also be obtained:
a
lease contract for the office of the company; licence; signage licence; immigration card.
municipal
Branch Office
The following are required in order to register a branch office and obtain a Commercial Registration:
letter copy
of support from the Qatar government entity to whom the services will be rendered; of the contract with the Qatar government entity; from the Ministry of Business and Trade to establish a branch;
authorisation notarised,
authenticated and consularised copies of the foreign company’s Certificate of Incorporation and Memorandum and Articles of Association; notarised, authenticated and consularised power of attorney from the foreign company to the manager of the branch; Chamber of Commerce Registration.
a
Qatar
6
Once the branch has been approved and the Commercial Registration issued, the following licences must also be obtained:
a
lease contract for the office of the company; municipal licence; signage licence; immigration card. If applicable, the company/branch may also need to be entered in the Importers’ Register and/or Contractors’ Register.
7
Taxation
Companies
A
new Income Tax Law (No. (21) of 2009) (the “Tax Law”) came into force 1 January 2010. This law repealed Law No. (11) of 1993 and brought along a number of changes, most importantly establishing a flat 10% corporate tax rate, replacing the sliding scale tax rate applicable before January 2010. 10% flat rate income tax is levied on businesses other than those wholly owned by Gulf Cooperation Council (“GCC”) nationals. However, where special agreements have been concluded between the Qatar government and foreign companies in the oil and gas industry and for the development of natural wealth and resources, the tax rates specified in the agreements will continue to apply. If the agreement does not specify a tax rate, then a tax rate of 35% is expected to apply in those sectors. the share of profits of the Qatari or GCC partner in a business is exempt from tax.
A
However, The
Tax Law imposes tax on “the Aggregate Taxable Income of the tax payer arising from sources in Qatar during the preceding tax year.” Tax liability applies not only in relation to income arising from sources in Qatar, but also in relation to commissions payable under agency agreements, brokerage or commercial representation realized outside Qatar in connection with activities conducted inside Qatar. arising from sources in Qatar includes income arising from: any activity intended to make profit in Qatar, implementation of contracts, real properties, sale of shares in Qatari companies or companies listed on Qatar Exchange, services supplied to head offices, branches or associated companies, interest on loans obtained in Qatar, income arising from the exploration, drilling or utilization of natural resources, and taxable income in accordance with double taxation treaties. Tax Law established a new withholding tax regime on payments to non-residents, as follows:
Income
The
− 5% (five percent) of the gross amount of royalties and technical fees; − 7% (seven percent) of the gross amount of interest, commissions, brokerage fees, director’s fees, attendance fees and any other payments for services carried out wholly or partly in the State of Qatar.
A
tax exemption can be granted under the Tax Law for a period of up to six years for major projects if they meet certain criteria. countries have double tax treaties with Qatar, e.g. France, Russia, China, Switzerland and the United Kingdom. If there are no double tax treaties, unilateral relief may be available.
Some
8
Individuals
There is no income tax on personal salaries.
Customs duty
The GCC has a customs union whereby the duty is 5% on most items imported into GCC countries. Once in Qatar, products may be exported to other GCC countries freely without further duties. Exemptions from customs duty can be obtained for the import of equipment relating to a particular project as can exemptions from customs duty for the import of primary or semi-manufactured materials where they are not available locally. In addition to customs duty, legalisation fees are payable on import documentation.
9
Property
The following forms of ownership are permitted in Qatar:
Freehold
Freehold ownership is mainly restricted to Qatari nationals. GCC nationals may own land without restriction in three designated areas managed by Qatari Diar. These are Lusail, Fox Hills and Al Khuraj. Foreign nationals may own real estate only in specific designated projects, namely the Pearl-Qatar, West Bay Lagoon and Al Khor Resort projects.
Usufructuary rights
“Usufructuary” rights are rights in real estate granting the recipient the right to use and occupy property belonging to another person for a defined period of time (or, if undefined, the life of the recipient) and in accordance with the terms and conditions contained in the instrument that creates the right. The rights granted under a usufructuary arrangement attach to the land and create a legal interest in the property. Non-Qataris can hold usufructuary rights in property used for both residential and commercial purposes for a period of up to 99 years in 18 designated investment areas.
Leasehold rights
A lease will only grant to the tenant a personal right. The lease will be enforceable against the original landlord, but is not directly enforceable against third parties, and may not be enforceable against a new owner of the property. The tenant does not have the right to assert and protect his rights in the leased property in his own name. The personal rights granted under a lease are not capable of being mortgaged as they do not amount to ‘property’ in their own right (although security may be taken by a lender by way of an assignment of the lease from the tenant to the lender in the event of a default by the tenant). The relationship between landlord and tenant is largely regulated by Law No. (4) of 2008 which, amongst other matters, established a designated committee within the Doha Municipality to deal with lease disputes.
Registration of title
All transactions which establish, transfer, alter, cancel or terminate property rights or other rights attached to land must be registered. Any unregistered contracts have no effect other than as personal obligations between the contracting parties. The Land Registration Department records all rights over land and any changes that might take place in respect of them. Interested parties, judicial authorities or experts appointed by them have access to such records. 10
Commercial contracts – choice of law and jurisdiction
Once a business entity has been established it will need to protect its interests when contracting with other entities.
The
parties to an international contract are free to choose the law and jurisdiction which will govern that contract (if they do not choose an applicable law, the contract will be governed by the Civil Code Law (No. (22) of 2004)). parties may also agree in writing to refer disputes to arbitration.
The
Qatar
has acceded to the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958) (the New York Convention). Therefore, arbitration awards made in countries that are party to this convention, should be enforceable in Qatar according to the provisions of the convention.
11
Intellectual property
Introduction
With a booming economy in Qatar, adequate protection of intellectual property (“IP”) is essential for promoting predictability, consistency and transparency, all of which are crucial components in creating a stable and free market economy. IP protection gains particular importance in Qatar with the establishment of the Qatar Science and Technology Park which aims to attract:
internationally start
renowned companies to set up research and development centres; and
up companies from internally generated or externally acquired IP.
Although not strictly monitored or enforced, Qatar has enacted several intellectual property laws in compliance with its World Trade Organisation obligations.
Trademarks
Trademarks
can be registered at the Trademark Office. are valid for 10 years from date of filing (renewable).
Registrations Trademarks The
can be cancelled if not used for periods of five consecutive years in Qatar.
international classification of goods and services is used and a separate application must be made for each class. have the same rights as Qataris provided that their country treats Qatar reciprocally.
Non-Qataris
Copyright
The
Copyright Law (No. (7) of 2002) protects original literary and artistic works including computer programmes and databases which are creative in the selection and arrangement of their subject matter. are registered at the Qatar Copyright Office in order to be protected.
Materials
Protection
extends, inter alia, to non-Qataris whose work is first published in Qatar or is published in another country and then published in Qatar within 30 days of the first publication date, and to works protected by international agreements. Copyright Law repealed the predecessor law (No. (25) of 1995) and provides protection for original works including: − − − − − books, pamphlets and other writings; works, delivered orally such as lectures; plays and musicals; music; choreographic work;
The
12
− − − − −
audio-visual work; photographs; applied art (handicrafts and industrial); drawings and paintings; and computer programmes.
The protection is extended to works derived from the above list. The protection does not extend to laws, legislation, judgements, international conventions and all other official documents and their translations.
Patents
Patent
Law (No. (30) of 2006) provides for registration of inventions and foreign patents at the Qatar Patent Office. GCC patent can be obtained by filing at the Patent Office in Riyadh, Saudi Arabia.
A
Design Rights
Industrial
designs and models can be registered under the Trademark Law (No. (9) of 2002). lasts for five years (renewable for two further five year periods).
Protection
13
Setting up in the QFC
Introduction
The Qatar Financial Centre (“QFC”) is a financial and business centre established by the Government of Qatar and located in Doha. The QFC is intended to provide an environment to attract international and domestic financial services institutions and major multi-national corporations and to encourage participation in the growing market for financial services in Qatar and elsewhere in the region. The QFC aims to operate to international standards and provide a first class legal and business infrastructure for those doing business within the centre. The QFC is operated by the Qatar Financial Centre Authority (“QFCA”), which is responsible for the commercial strategy and business development for the centre and provides its administrative functions. The QFC Regulatory Authority (“QFCRA”) is the independent regulatory body that has powers to authorise, supervise and discipline QFC firms and individuals. Finally, there is a QFC Companies Registration Office (“CRO”) which can register limited liability companies and limited liability partnerships within the QFC, and branches of foreign companies operating within the QFC.
Ways of setting up in the QFC
An applicant firm can establish a presence in the QFC to carry out what are called “Permitted Activities”. Permitted Activities are, broadly speaking, financial services or services found in support of financial services businesses, together with a number of related or corporate headquarters type activities. Permitted Activities are divided into Non-Regulated and Regulated Activities. The regulation process differs depending on the scope of the activities which the applicant firm wishes to undertake.
Non-Regulated Activities
Non-Regulated
Activities are activities which do not require extensive supervision. Current QFCA guidance states that the following are likely to be considered Non-Regulated Activities: − the business of ship broking and shipping agents; − the business of provision of classification services and investment grading and other grading services; − business activities of company headquarters, management offices and treasury operations and other related functions for all kinds of business, and the administration of companies generally; − the business of providing professional services including but not limited to audit, accounting, tax, consulting and legal services; − activities of holding companies, and the provision, formation, operation and administration of trusts and similar arrangements of all kinds; and − the business of provision, formation, operation and administration of companies.
14
If
an applicant firm wishes to conduct one or more Non-Regulated Activities, it must be (1) registered with the CRO and (2) licensed by the QFCA.
Regulated activities
Regulated
Activities are those financial services (such as banking, insurance or securities businesses) that require close and continuing scrutiny to ensure prudential soundness and proper conduct of those businesses. Current QFCA guidance states that the following constitute Regulated Activities: − − − − − − − − − − − − deposit taking; providing credit facilities; providing custody services; dealing in investments; managing investments; advising on investments; deals in investments; arranging credit facilities; arranging the provision of custody services; operating a collective investment fund; carrying out a contract of insurance; and effecting of insurance.
If
an applicant wishes to conduct one or more Regulated Activities, it must be (1) registered with the CRO; (2) licensed by the QFCA; and (3) most importantly, authorised by the QFCRA. An applicant firm may only conduct the particular Regulated Activities if it has been granted a specific authorisation by the QFCRA.
15
Staff and local customs
A
“Qatarisation” initiative is in place which aims to increase the number of Qatari nationals in the public sector workforce. The Labour Law (No. (14) of 2004), as amended also introduces Qatarisation initiatives for certain private sector entities. The employment of Qatari nationals is one of the criteria taken into account when tax exemptions are granted. for Qatar Petroleum (and its related companies), security guards, housemaids and agricultural workers, all private contracts of employment are governed by the Labour Law. Such contracts must be in Arabic (or bi-lingual) and approved and registered with the Ministry of Labour and Social Affairs. particular, employers should be aware of the requirement to pay an end of service benefit to employees who have been employed for at least 12 months. Such benefit must not be less than three weeks salary for every year of employment. will need to obtain residence and work permits for their expatriate staff.
Except
In
Companies All
expatriate employees must be sponsored by their corporate employer who is responsible for them while they are in Qatar. a ‘soft’ point, employers should provide their staff (both those based in Qatar and those to whom they will be reporting in the head office) with a briefing on local culture and customs.
Finally,
16
Simmons & Simmons
Winner of 'Qatar Law Firm of the Year 2009’ IFLR Middle East Awards Winner of ‘Debt and Equity Linked Deal of the Year 2010’ at the International Financial Law Review (IFLR) Middle East Awards Winner of ‘International/Cross Border Law Firm of the Year 2011 – Qatar’ Corporate INTL Awards If you would like any further information please contact: Andrew Wingfield T +974 4409 6720 E [email protected]
Dani Kabbani T +974 4409 6725 E [email protected]
Information contained herein is correct as at April 2011. Simmons & Simmons accept no responsibility for loss occasioned to any person acting or refraining from acting as a result of material contained in this summary. Entities seeking to carry on business in Qatar should seek legal advice prior to carrying on any business in the country. No part of this summary may be reproduced in any form or by any means without the prior permission of Simmons & Simmons. This document is for general guidance only. It does not contain definitive advice and specific advice should always be obtained.
17
Abu Dhabi
Simmons & Simmons Middle East LLP Level 10 The ADNIC Building Khalifa Street PO Box 5931 Abu Dhabi United Arab Emirates T +971 2 651 9200 F +971 2 651 9201
Jeddah
Hammad, Al-Mehdar & Co in alliance with Simmons & Simmons Madina Rd Saudi Business Center Office #114 PO Box 864 Jeddah 21421 Kingdom of Saudi Arabia T +966 2 6434414 F +966 2 6574438
Amsterdam
Simmons & Simmons LLP PO Box 79023 1070 NB Claude Debussylaan 247 1082 MC Amsterdam The Netherlands T +31 20 722 2500 F +31 20 722 2599
Lisbon
Sociedade Rebelo de Sousa in association with Simmons & Simmons LLP Rua D. Francisco Manuel de Melo 21 1070-085 Lisbon Portugal T +351 21 313 2000 F +351 21 313 2001
Beijing
Simmons & Simmons 33rd Floor China World Tower 1 Jianguomenwai Avenue Beijing 100004 People’s Republic of China T +86 10 6113 7500 F +86 10 6113 7588
London
Simmons & Simmons LLP CityPoint One Ropemaker Street London EC2Y 9SS United Kingdom T +44 20 7628 2020 F +44 20 7628 2070
Brussels
Simmons & Simmons LLP Avenue Louise 149 b 16 1050 Brussels Belgium T +32 2 542 09 60 F +32 2 542 09 61
Madrid
Simmons & Simmons LLP Calle Miguel Angel 11 5th floor 28010 Madrid Spain T +34 91 426 2640 F +34 91 578 2157
Doha
Simmons & Simmons Middle East LLP Level 5 Al Mirqab Tower Al Corniche Street PO Box 23540 Doha State of Qatar T +974 4409 6700 F +974 4409 6701
Milan
Studio Legale Associato in affiliation with Simmons & Simmons LLP Corso Vittorio Emanuele II 1 20122 Milan Italy T +39 02 7250 51 F +39 02 7250 5505
Dubai
Simmons & Simmons Middle East LLP Level 7 The Gate Village Building 10 Dubai International Financial Centre PO Box 506688 Dubai United Arab Emirates T +971 4 709 6600 F +971 4 709 6601
Paris
Simmons & Simmons LLP 5 boulevard de la Madeleine 75001 Paris France T +33 1 53 29 16 29 F +33 1 53 29 16 30
Düsseldorf
Simmons & Simmons LLP BroadwayOffice Breite Straße 31 40213 Düsseldorf Germany T +49 2 11-4 70 53-0 F +49 2 11-4 70 53-53
Rome
Studio Legale Associato in affiliation with Simmons & Simmons LLP Via di San Basilio 72 00187 Rome Italy T +39 06 8095 51 F +39 06 8095 5955
Frankfurt
Simmons & Simmons LLP MesseTurm Friedrich-Ebert-Anlage 49 60308 Frankfurt am Main Germany T +49 69-90 74 54-0 F +49 69-90 74 54-54
Shanghai
Simmons & Simmons 33rd floor Plaza 66 1266 Nanjing Road West Shanghai 200040 People’s Republic of China T +86 21 6249 0700 F +86 21 6249 0706
Funchal
Sociedade Rebelo de Sousa in association with Simmons & Simmons LLP Av. Zarco nº2-2º 9000-069 Funchal Madeira T +351 291 20 22 60 F +351 291 20 22 61
Tokyo
Simmons & Simmons Gaikokuho Jimu Bengoshi Jimusho (Gaikokuho Joint Enterprise TMI Associates) 23rd floor Roppongi Hills Mori Tower 6-10-1 Roppongi Minato-ku Tokyo 106-6123 Japan T +81 3 6438 5255 F +81 3 6438 5256
Hong Kong
Simmons & Simmons 13th Floor One Pacific Place 88 Queensway Hong Kong T +852 2868 1131 F +852 2810 5040
simmons-simmons.com elexica.com
elexica.com is the award winning online legal resource of Simmons & Simmons
© Simmons & Simmons LLP 2011. All rights reserved, and all moral rights are asserted and reserved. This document is for general guidance only. It does not contain definitive advice. SIMMONS & SIMMONS and S&S are registered trade marks of Simmons & Simmons LLP.
Simmons & Simmons is an international legal practice carried on by Simmons & Simmons LLP and its affiliated practices. Accordingly, references to Simmons & Simmons mean Simmons & Simmons LLP and the other partnerships and other entities or practices authorised to use the name “Simmons & Simmons” or one or more of those practices as the context requires. The word “partner” refers to a member of Simmons & Simmons LLP or an employee or consultant with equivalent standing and qualifications or to an individual with equivalent status in one of Simmons & Simmons LLP’s affiliated practices. For further information on the international entities and practices, refer to simmons-simmons.com/legalresp Simmons & Simmons LLP is a limited liability partnership registered in England & Wales with number OC352713 and with its registered office at CityPoint, One Ropemaker Street, London EC2Y 9SS. It is regulated by the Solicitors Regulation Authority. A list of members and other partners together with their professional qualifications is available for inspection at the above address.
ME_008_setting up a business in Qatar_nov11
October 2011
Winner of ‘Qatar Law Firm of the Year 2009’ at the International Financial Law Review (IFLR) Middle East Awards
Contents
Foreign Investment restrictions Choosing the most appropriate business medium Company structures Commercial registration and other formalities Taxation Property Commercial contracts – choice of law and jurisdiction Intellectual property Setting up in the QFC Staff and local customs Simmons & Simmons 2 3 4 6 8 10 11 12 14 16 17
Qatar is one of the smaller Gulf states in terms of population and geographical area, but boasts the third largest natural gas reserves in the world. This abundance of natural resources coupled with recent legal liberalisation, economic diversification and a burgeoning economy means that there are many opportunities for investment in Qatar. These opportunities have been greatly enhanced by Qatar being chosen to host the Football World Cup in 2022. Foreign investors are welcomed and various incentives are available to attract foreign capital, including tax and customs duty exemptions. Foreign investors can transfer their investments and profits can be repatriated as can proceeds of sale and capital on liquidation. Qatar is very much a market where local knowledge is key. We set out below 10 key points to consider when doing business in Qatar. Please contact Simmons & Simmons Middle East LLP (“Simmons & Simmons”) if you would like more detailed information. Contact details for some of our Doha based personnel can be found at the end of this note.
1
Foreign Investment restrictions
Foreign
investors may only invest in Qatar in accordance with the provisions of the Foreign Capital Investment in Economic Activities Law (No. (13) of 2000), as amended. investors may invest in all parts of the national economy (other than those set out below) with a Qatari partner who must normally own at least 51% of the enterprise. exemptions apply in this regard, foreign investors may not invest in commercial agencies or, broadly speaking, real estate (for applicable exemptions to real estate investments please see section 6 (Property) below). Approval from the Council of Ministers is required for foreign investment in banking or insurance. Ministry of Business and Trade may permit foreign investors to own more than 49% and up to 100% of a company in specified sectors called the “Priority Sectors”, namely business consulting; technical services; information technology; cultural, sports and leisure services; distribution services; agriculture; manufacturing; health; tourism; development and exploitation of natural resources; energy and mining. capital is guaranteed against expropriation (although the State may acquire assets for public benefit on a non-discriminatory basis, provided full compensation for the value of the asset is paid). capital in public shareholding companies listed on the Qatar Exchange is limited to 25% in aggregate, unless the articles of association of such company provide for a higher percentage. foreign company which has a contract with the Government of Qatar or a quasi Government entity may register a branch office if it has entered into a contract in respect of a “government qualified project”. company formed by the government or a government entity, or by a foreign entity with the government or a government entity (known as an “Article 68 Company”) is not subject to the Commercial Companies Law (No. (5) of 2002), as amended to the extent that certain provisions of that Law have been excluded in the company’s Articles of Association. is a separate and distinct regime for establishing companies in the Qatar Financial Centre which allows 100% foreign ownership and has been put in place to attract international financial services companies (and some support functions) to come to Qatar. That regime is explained in outline in Section 9.
Foreign
Although
The
Foreign
Foreign
A
A
There
2
Choosing the most appropriate business medium
Incorporating a company
A
company is the normal vehicle where an on-going business is being set up. exemptions are available to attract foreign capital.
Various Except
for branches of foreign companies with government contracts and Trade Representative Offices or companies in specified sectors, most of the other cases will require a Qatari partner.
Branch office
Used
where a foreign company is performing a specific government contract in Qatar. by the Ministry of Business and Trade where the project is “government qualified”.
Authorised No
need for a Qatari partner.
Branch
is registered to perform the specific government contract for which it is registered and cannot undertake work for the private sector. will be fully taxable unless it is granted a special exemption.
Branch
Commercial Agency
The
foreign company does not establish a presence in Qatar, but instead, a Qatari agent is appointed to market goods and services within Qatar. agencies may be registered and are subject to the Commercial Agents Law (No. (8) of 2002).
Exclusive
Under
a registered agency, commission is payable on all sales of the products within the territory even if the sales are not due to the activities of the agent. of the agency will trigger compensation for the Qatari agent, including upon the expiry of a fixed term agency. agencies will be subject to the Commercial Law (No. (27) of 2006).
Termination
Non-registered
Trade Representative Office
It
is possible to register a Trade Representative Office by virtue of Minister of Economy and Commerce Decision No. (142) of 2006 regulating Trade Representative Offices. only be used to promote a foreign company in Qatar so as to introduce it to Qatari companies and projects, through marketing and promotions. not be engaged in selling or entering into contracts in Qatar. Business must be carried out by the foreign entity (where the contract can be performed substantially outside Qatar) or by a company or branch authorised to do business in Qatar.
May
May
3
Company structures
In addition to the list below, other possible legal entities under Qatari law include the Simple Partnership and the Joint Partnership. The participation of foreign capital in all companies is restricted to various levels. If a foreign investor is permitted to own 100% of the company (by the Ministry of Business and Trade as a result of investing in certain specified sectors), a single person company can be used as the vehicle for such investment.
Single Person Company
Minimum Only This
capital of QAR200,000 (USD54,950) which must be fully paid up.
one shareholder who owns 100% of the company’s shares.
type of company is often used by foreign investors who have obtained an exemption allowing them to invest in the Priority Sectors as provided for under the Foreign Investment Law. to the same legal provisions relating to limited liability companies unless specific provisions relating to single person companies apply.
Subject
Limited Liability Company
Minimum Must The 10%
capital of QAR200,000 (USD54,950) which must be fully paid up.
have at least 51% Qatari ownership unless an exemption has been obtained.
parties’ profit shares do not necessarily have to reflect their equity shareholdings.
of each year’s net profits must be kept within the company until the legal reserve stands at 50% of the share capital. not raise capital by public subscription and may not issue freely transferable shares or bonds.
May
Shares
may only be transferred after they have first been offered to the other shareholders by way of pre-emption, unless the other shareholders have agreed to waive their right. not accept deposits, carry out banking or insurance business or provide investment services on behalf of third parties.
May
4
Shareholding Company
There
are two types of shareholding companies: privately and publicly held (publicly held shareholding companies are usually listed on the Qatar Exchange). paid up capital must be QAR10 million (USD2,746,574) for an unlisted company and QAR40 million (USD10,986,295) for a listed company. of shareholders must not be less than five (or not less than 30 if listed on the Qatar Exchange). and Articles of Association are in a prescribed form and any deviations from such form are subject to the approval of the Commercial Companies Department at the Ministry of Business and Trade.
Minimum
Number
Memorandum
Article 68 Company
Must
be a shareholding company – the Qatari government, a Qatari government owned entity or a public corporation must own 51% of the shares or, upon the consent of the Council of Ministers, it may own less than 51%. Therefore, the foreign investor’s share of the company is a matter for negotiation but can be greater than 51%. outside the Commercial Companies Law to the extent that certain provisions of that law have been excluded in the company’s Articles of Association.
Falls
5
Commercial registration and other formalities
As part of the company incorporation procedures, Simmons & Simmons will use its own PROs (public relations officers or liaison officers) to carry out all the necessary registration formalities. However, once a company has been established, it will normally either employ a PRO or hire a PRO from a third party service provider. Such a PRO will be invaluable for obtaining residence permits, driving licences and telephone, power and water connections etc. and their renewals.
Company Formation
The following are required in order to incorporate a company and obtain a Commercial Registration:
Memorandum
& Articles of Association in Arabic which conform with the standard form provided by the Ministry of Business and Trade and have been approved by the Ministry; authenticated and consularised copies of the foreign company’s Certificate of Incorporation, Memorandum and Articles of Association and board resolution or power of attorney authorising someone to act on its behalf to establish a company in Qatar; from a Qatar bank indicating the deposit of the share capital at that bank (minimum of QAR200,000 – (USD54,950); Chamber of Commerce Registration.
Notarised,
Letter
Qatar
Once the company has been incorporated and the Commercial Registration issued, the share capital can be released to the company’s directors or the general manager for the purposes of running the company. The following licences must then also be obtained:
a
lease contract for the office of the company; licence; signage licence; immigration card.
municipal
Branch Office
The following are required in order to register a branch office and obtain a Commercial Registration:
letter copy
of support from the Qatar government entity to whom the services will be rendered; of the contract with the Qatar government entity; from the Ministry of Business and Trade to establish a branch;
authorisation notarised,
authenticated and consularised copies of the foreign company’s Certificate of Incorporation and Memorandum and Articles of Association; notarised, authenticated and consularised power of attorney from the foreign company to the manager of the branch; Chamber of Commerce Registration.
a
Qatar
6
Once the branch has been approved and the Commercial Registration issued, the following licences must also be obtained:
a
lease contract for the office of the company; municipal licence; signage licence; immigration card. If applicable, the company/branch may also need to be entered in the Importers’ Register and/or Contractors’ Register.
7
Taxation
Companies
A
new Income Tax Law (No. (21) of 2009) (the “Tax Law”) came into force 1 January 2010. This law repealed Law No. (11) of 1993 and brought along a number of changes, most importantly establishing a flat 10% corporate tax rate, replacing the sliding scale tax rate applicable before January 2010. 10% flat rate income tax is levied on businesses other than those wholly owned by Gulf Cooperation Council (“GCC”) nationals. However, where special agreements have been concluded between the Qatar government and foreign companies in the oil and gas industry and for the development of natural wealth and resources, the tax rates specified in the agreements will continue to apply. If the agreement does not specify a tax rate, then a tax rate of 35% is expected to apply in those sectors. the share of profits of the Qatari or GCC partner in a business is exempt from tax.
A
However, The
Tax Law imposes tax on “the Aggregate Taxable Income of the tax payer arising from sources in Qatar during the preceding tax year.” Tax liability applies not only in relation to income arising from sources in Qatar, but also in relation to commissions payable under agency agreements, brokerage or commercial representation realized outside Qatar in connection with activities conducted inside Qatar. arising from sources in Qatar includes income arising from: any activity intended to make profit in Qatar, implementation of contracts, real properties, sale of shares in Qatari companies or companies listed on Qatar Exchange, services supplied to head offices, branches or associated companies, interest on loans obtained in Qatar, income arising from the exploration, drilling or utilization of natural resources, and taxable income in accordance with double taxation treaties. Tax Law established a new withholding tax regime on payments to non-residents, as follows:
Income
The
− 5% (five percent) of the gross amount of royalties and technical fees; − 7% (seven percent) of the gross amount of interest, commissions, brokerage fees, director’s fees, attendance fees and any other payments for services carried out wholly or partly in the State of Qatar.
A
tax exemption can be granted under the Tax Law for a period of up to six years for major projects if they meet certain criteria. countries have double tax treaties with Qatar, e.g. France, Russia, China, Switzerland and the United Kingdom. If there are no double tax treaties, unilateral relief may be available.
Some
8
Individuals
There is no income tax on personal salaries.
Customs duty
The GCC has a customs union whereby the duty is 5% on most items imported into GCC countries. Once in Qatar, products may be exported to other GCC countries freely without further duties. Exemptions from customs duty can be obtained for the import of equipment relating to a particular project as can exemptions from customs duty for the import of primary or semi-manufactured materials where they are not available locally. In addition to customs duty, legalisation fees are payable on import documentation.
9
Property
The following forms of ownership are permitted in Qatar:
Freehold
Freehold ownership is mainly restricted to Qatari nationals. GCC nationals may own land without restriction in three designated areas managed by Qatari Diar. These are Lusail, Fox Hills and Al Khuraj. Foreign nationals may own real estate only in specific designated projects, namely the Pearl-Qatar, West Bay Lagoon and Al Khor Resort projects.
Usufructuary rights
“Usufructuary” rights are rights in real estate granting the recipient the right to use and occupy property belonging to another person for a defined period of time (or, if undefined, the life of the recipient) and in accordance with the terms and conditions contained in the instrument that creates the right. The rights granted under a usufructuary arrangement attach to the land and create a legal interest in the property. Non-Qataris can hold usufructuary rights in property used for both residential and commercial purposes for a period of up to 99 years in 18 designated investment areas.
Leasehold rights
A lease will only grant to the tenant a personal right. The lease will be enforceable against the original landlord, but is not directly enforceable against third parties, and may not be enforceable against a new owner of the property. The tenant does not have the right to assert and protect his rights in the leased property in his own name. The personal rights granted under a lease are not capable of being mortgaged as they do not amount to ‘property’ in their own right (although security may be taken by a lender by way of an assignment of the lease from the tenant to the lender in the event of a default by the tenant). The relationship between landlord and tenant is largely regulated by Law No. (4) of 2008 which, amongst other matters, established a designated committee within the Doha Municipality to deal with lease disputes.
Registration of title
All transactions which establish, transfer, alter, cancel or terminate property rights or other rights attached to land must be registered. Any unregistered contracts have no effect other than as personal obligations between the contracting parties. The Land Registration Department records all rights over land and any changes that might take place in respect of them. Interested parties, judicial authorities or experts appointed by them have access to such records. 10
Commercial contracts – choice of law and jurisdiction
Once a business entity has been established it will need to protect its interests when contracting with other entities.
The
parties to an international contract are free to choose the law and jurisdiction which will govern that contract (if they do not choose an applicable law, the contract will be governed by the Civil Code Law (No. (22) of 2004)). parties may also agree in writing to refer disputes to arbitration.
The
Qatar
has acceded to the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958) (the New York Convention). Therefore, arbitration awards made in countries that are party to this convention, should be enforceable in Qatar according to the provisions of the convention.
11
Intellectual property
Introduction
With a booming economy in Qatar, adequate protection of intellectual property (“IP”) is essential for promoting predictability, consistency and transparency, all of which are crucial components in creating a stable and free market economy. IP protection gains particular importance in Qatar with the establishment of the Qatar Science and Technology Park which aims to attract:
internationally start
renowned companies to set up research and development centres; and
up companies from internally generated or externally acquired IP.
Although not strictly monitored or enforced, Qatar has enacted several intellectual property laws in compliance with its World Trade Organisation obligations.
Trademarks
Trademarks
can be registered at the Trademark Office. are valid for 10 years from date of filing (renewable).
Registrations Trademarks The
can be cancelled if not used for periods of five consecutive years in Qatar.
international classification of goods and services is used and a separate application must be made for each class. have the same rights as Qataris provided that their country treats Qatar reciprocally.
Non-Qataris
Copyright
The
Copyright Law (No. (7) of 2002) protects original literary and artistic works including computer programmes and databases which are creative in the selection and arrangement of their subject matter. are registered at the Qatar Copyright Office in order to be protected.
Materials
Protection
extends, inter alia, to non-Qataris whose work is first published in Qatar or is published in another country and then published in Qatar within 30 days of the first publication date, and to works protected by international agreements. Copyright Law repealed the predecessor law (No. (25) of 1995) and provides protection for original works including: − − − − − books, pamphlets and other writings; works, delivered orally such as lectures; plays and musicals; music; choreographic work;
The
12
− − − − −
audio-visual work; photographs; applied art (handicrafts and industrial); drawings and paintings; and computer programmes.
The protection is extended to works derived from the above list. The protection does not extend to laws, legislation, judgements, international conventions and all other official documents and their translations.
Patents
Patent
Law (No. (30) of 2006) provides for registration of inventions and foreign patents at the Qatar Patent Office. GCC patent can be obtained by filing at the Patent Office in Riyadh, Saudi Arabia.
A
Design Rights
Industrial
designs and models can be registered under the Trademark Law (No. (9) of 2002). lasts for five years (renewable for two further five year periods).
Protection
13
Setting up in the QFC
Introduction
The Qatar Financial Centre (“QFC”) is a financial and business centre established by the Government of Qatar and located in Doha. The QFC is intended to provide an environment to attract international and domestic financial services institutions and major multi-national corporations and to encourage participation in the growing market for financial services in Qatar and elsewhere in the region. The QFC aims to operate to international standards and provide a first class legal and business infrastructure for those doing business within the centre. The QFC is operated by the Qatar Financial Centre Authority (“QFCA”), which is responsible for the commercial strategy and business development for the centre and provides its administrative functions. The QFC Regulatory Authority (“QFCRA”) is the independent regulatory body that has powers to authorise, supervise and discipline QFC firms and individuals. Finally, there is a QFC Companies Registration Office (“CRO”) which can register limited liability companies and limited liability partnerships within the QFC, and branches of foreign companies operating within the QFC.
Ways of setting up in the QFC
An applicant firm can establish a presence in the QFC to carry out what are called “Permitted Activities”. Permitted Activities are, broadly speaking, financial services or services found in support of financial services businesses, together with a number of related or corporate headquarters type activities. Permitted Activities are divided into Non-Regulated and Regulated Activities. The regulation process differs depending on the scope of the activities which the applicant firm wishes to undertake.
Non-Regulated Activities
Non-Regulated
Activities are activities which do not require extensive supervision. Current QFCA guidance states that the following are likely to be considered Non-Regulated Activities: − the business of ship broking and shipping agents; − the business of provision of classification services and investment grading and other grading services; − business activities of company headquarters, management offices and treasury operations and other related functions for all kinds of business, and the administration of companies generally; − the business of providing professional services including but not limited to audit, accounting, tax, consulting and legal services; − activities of holding companies, and the provision, formation, operation and administration of trusts and similar arrangements of all kinds; and − the business of provision, formation, operation and administration of companies.
14
If
an applicant firm wishes to conduct one or more Non-Regulated Activities, it must be (1) registered with the CRO and (2) licensed by the QFCA.
Regulated activities
Regulated
Activities are those financial services (such as banking, insurance or securities businesses) that require close and continuing scrutiny to ensure prudential soundness and proper conduct of those businesses. Current QFCA guidance states that the following constitute Regulated Activities: − − − − − − − − − − − − deposit taking; providing credit facilities; providing custody services; dealing in investments; managing investments; advising on investments; deals in investments; arranging credit facilities; arranging the provision of custody services; operating a collective investment fund; carrying out a contract of insurance; and effecting of insurance.
If
an applicant wishes to conduct one or more Regulated Activities, it must be (1) registered with the CRO; (2) licensed by the QFCA; and (3) most importantly, authorised by the QFCRA. An applicant firm may only conduct the particular Regulated Activities if it has been granted a specific authorisation by the QFCRA.
15
Staff and local customs
A
“Qatarisation” initiative is in place which aims to increase the number of Qatari nationals in the public sector workforce. The Labour Law (No. (14) of 2004), as amended also introduces Qatarisation initiatives for certain private sector entities. The employment of Qatari nationals is one of the criteria taken into account when tax exemptions are granted. for Qatar Petroleum (and its related companies), security guards, housemaids and agricultural workers, all private contracts of employment are governed by the Labour Law. Such contracts must be in Arabic (or bi-lingual) and approved and registered with the Ministry of Labour and Social Affairs. particular, employers should be aware of the requirement to pay an end of service benefit to employees who have been employed for at least 12 months. Such benefit must not be less than three weeks salary for every year of employment. will need to obtain residence and work permits for their expatriate staff.
Except
In
Companies All
expatriate employees must be sponsored by their corporate employer who is responsible for them while they are in Qatar. a ‘soft’ point, employers should provide their staff (both those based in Qatar and those to whom they will be reporting in the head office) with a briefing on local culture and customs.
Finally,
16
Simmons & Simmons
Winner of 'Qatar Law Firm of the Year 2009’ IFLR Middle East Awards Winner of ‘Debt and Equity Linked Deal of the Year 2010’ at the International Financial Law Review (IFLR) Middle East Awards Winner of ‘International/Cross Border Law Firm of the Year 2011 – Qatar’ Corporate INTL Awards If you would like any further information please contact: Andrew Wingfield T +974 4409 6720 E [email protected]
Dani Kabbani T +974 4409 6725 E [email protected]
Information contained herein is correct as at April 2011. Simmons & Simmons accept no responsibility for loss occasioned to any person acting or refraining from acting as a result of material contained in this summary. Entities seeking to carry on business in Qatar should seek legal advice prior to carrying on any business in the country. No part of this summary may be reproduced in any form or by any means without the prior permission of Simmons & Simmons. This document is for general guidance only. It does not contain definitive advice and specific advice should always be obtained.
17
Abu Dhabi
Simmons & Simmons Middle East LLP Level 10 The ADNIC Building Khalifa Street PO Box 5931 Abu Dhabi United Arab Emirates T +971 2 651 9200 F +971 2 651 9201
Jeddah
Hammad, Al-Mehdar & Co in alliance with Simmons & Simmons Madina Rd Saudi Business Center Office #114 PO Box 864 Jeddah 21421 Kingdom of Saudi Arabia T +966 2 6434414 F +966 2 6574438
Amsterdam
Simmons & Simmons LLP PO Box 79023 1070 NB Claude Debussylaan 247 1082 MC Amsterdam The Netherlands T +31 20 722 2500 F +31 20 722 2599
Lisbon
Sociedade Rebelo de Sousa in association with Simmons & Simmons LLP Rua D. Francisco Manuel de Melo 21 1070-085 Lisbon Portugal T +351 21 313 2000 F +351 21 313 2001
Beijing
Simmons & Simmons 33rd Floor China World Tower 1 Jianguomenwai Avenue Beijing 100004 People’s Republic of China T +86 10 6113 7500 F +86 10 6113 7588
London
Simmons & Simmons LLP CityPoint One Ropemaker Street London EC2Y 9SS United Kingdom T +44 20 7628 2020 F +44 20 7628 2070
Brussels
Simmons & Simmons LLP Avenue Louise 149 b 16 1050 Brussels Belgium T +32 2 542 09 60 F +32 2 542 09 61
Madrid
Simmons & Simmons LLP Calle Miguel Angel 11 5th floor 28010 Madrid Spain T +34 91 426 2640 F +34 91 578 2157
Doha
Simmons & Simmons Middle East LLP Level 5 Al Mirqab Tower Al Corniche Street PO Box 23540 Doha State of Qatar T +974 4409 6700 F +974 4409 6701
Milan
Studio Legale Associato in affiliation with Simmons & Simmons LLP Corso Vittorio Emanuele II 1 20122 Milan Italy T +39 02 7250 51 F +39 02 7250 5505
Dubai
Simmons & Simmons Middle East LLP Level 7 The Gate Village Building 10 Dubai International Financial Centre PO Box 506688 Dubai United Arab Emirates T +971 4 709 6600 F +971 4 709 6601
Paris
Simmons & Simmons LLP 5 boulevard de la Madeleine 75001 Paris France T +33 1 53 29 16 29 F +33 1 53 29 16 30
Düsseldorf
Simmons & Simmons LLP BroadwayOffice Breite Straße 31 40213 Düsseldorf Germany T +49 2 11-4 70 53-0 F +49 2 11-4 70 53-53
Rome
Studio Legale Associato in affiliation with Simmons & Simmons LLP Via di San Basilio 72 00187 Rome Italy T +39 06 8095 51 F +39 06 8095 5955
Frankfurt
Simmons & Simmons LLP MesseTurm Friedrich-Ebert-Anlage 49 60308 Frankfurt am Main Germany T +49 69-90 74 54-0 F +49 69-90 74 54-54
Shanghai
Simmons & Simmons 33rd floor Plaza 66 1266 Nanjing Road West Shanghai 200040 People’s Republic of China T +86 21 6249 0700 F +86 21 6249 0706
Funchal
Sociedade Rebelo de Sousa in association with Simmons & Simmons LLP Av. Zarco nº2-2º 9000-069 Funchal Madeira T +351 291 20 22 60 F +351 291 20 22 61
Tokyo
Simmons & Simmons Gaikokuho Jimu Bengoshi Jimusho (Gaikokuho Joint Enterprise TMI Associates) 23rd floor Roppongi Hills Mori Tower 6-10-1 Roppongi Minato-ku Tokyo 106-6123 Japan T +81 3 6438 5255 F +81 3 6438 5256
Hong Kong
Simmons & Simmons 13th Floor One Pacific Place 88 Queensway Hong Kong T +852 2868 1131 F +852 2810 5040
simmons-simmons.com elexica.com
elexica.com is the award winning online legal resource of Simmons & Simmons
© Simmons & Simmons LLP 2011. All rights reserved, and all moral rights are asserted and reserved. This document is for general guidance only. It does not contain definitive advice. SIMMONS & SIMMONS and S&S are registered trade marks of Simmons & Simmons LLP.
Simmons & Simmons is an international legal practice carried on by Simmons & Simmons LLP and its affiliated practices. Accordingly, references to Simmons & Simmons mean Simmons & Simmons LLP and the other partnerships and other entities or practices authorised to use the name “Simmons & Simmons” or one or more of those practices as the context requires. The word “partner” refers to a member of Simmons & Simmons LLP or an employee or consultant with equivalent standing and qualifications or to an individual with equivalent status in one of Simmons & Simmons LLP’s affiliated practices. For further information on the international entities and practices, refer to simmons-simmons.com/legalresp Simmons & Simmons LLP is a limited liability partnership registered in England & Wales with number OC352713 and with its registered office at CityPoint, One Ropemaker Street, London EC2Y 9SS. It is regulated by the Solicitors Regulation Authority. A list of members and other partners together with their professional qualifications is available for inspection at the above address.
ME_008_setting up a business in Qatar_nov11
