How to start an Audit or Accounting firm in Qatar?

To launch an Audit or Accounting firm in Qatar, follow these key steps: 1. Conduct thorough market research to understand local demand. 2. Establish a legal entity and comply with regulatory requirements. 3. Build a skilled team of auditors and accountants. 4. Invest in robust technology for efficient operations. 5. Develop strong client relationships through transparent and accurate services. Global Edge specializes in providing top-notch Audit and Accounting services, making it an ideal partner for navigating the complexities of the Qatari business landscape. Trust us to guide you through the process and ensure success for your firm.

An auditing company is one of the highest demands and popular businesses to start in Qatar which provides accurate financial information of any company and evaluate departments to improve efficiency. The main activities performed by auditing companies include Company Statutory Audit, Taxation Audit, Internal Company Audit, Cost Efficiency Audit, Company Financial Statement Audits, Internal Audit and many more.

If you are one of those entrepreneurs who look forward to start an audit firm, first you have to understand the basic rules and regulations of Qatar government. A local sponsor is necessary in order to be allowed to put up an audit firm. If your company is in partnership, then all your partners should be qualified accountants preferably chartered accountants.

If you are a foreign investor interested in incorporating the firm with holding license, you should then have minimum of three-year experience as a practicing auditor. Either you should be having a bachelor’s degree in accounting from any recognized institution or you must have some fellowship from any associations or bodies of accountants. In other words, you should have completed your studies and should have a deep knowledge in business studies and accounting subjects

A company’s legal incorporation will be 51 percent from a Qatari national and the remaining 49 percent will be for the non-Qatari. To investors who are interested to put up a branch firm, an Auditing Company License in Qatar along with the license to practice the profession in the State is a must if the partner of the company is a legal founder person outside the State. Keep one thing in mind that all your certificates including the experience certificate must get attested from Ministry of Foreign Affairs. Another requirement is the submission of CA completion certificate including the fellowship certificate to be attached to the application.

I am from a chartered accounting firm For further assistance, you can contact me:

Ajmal Maliyekkal

Ph: +974 3311 2324

The following procedure is same for starting any type of company in qatar:

Step 1- Trade Name

You need to first guess a trade name for your company. Hopefully, the one you want has not already been taken. Note that if your desired name doesn’t have a meaning in Arabic, you will have to pay QAR1,000. Otherwise it is free.

For example:

If your company name is Alzubara Limousine, don’t think it is an Arabic name. Since it doesnot have any meaning in Arabic, you have to pay QAR 1000.

Another example.

If your company name is Ajmal Cafeteria, Yes it is an Arabic name. It has a meaning Since in English you can say it as Beautiful Cafeteria. So no need to pay QAR 1000. This name is free.

Step 2- Articles of Incorporation(WatheeQah Tha’sees in Arabic)

This is a legal document. After trade name, you need to get your articles of incorporation typed, listing all the shareholders and their ownership stakes. Usually Qatari is 51% Partner is 49%.

Step 3- Issue the CR (Commercial Registration)(Sijjil Thijaari in Arabic)

It is just a payment process. Ie Once you have your trade name and articles of incorporation, submit them, pay the fee and issue a CR on the spot. At this point, you will be asked about your business activities, as each business activity has its own specific charges and each activity can range from QAR 500/year to QAR 10,000/year. For your case select Auditing and Accounting as your business activity.

Keep in mind that some business activities may require pre-approval. For instance, if you’re opening a pharmacy or a medical clinic, you need approval from the Ministry of Health. If you’re opening a school, you need approval from the Supreme Council of Education, If you are opening Limousine, you need approval from Ministry of Transport and Traffic police. and so forth.

CR is valid for only one year, and so you have to renew them every year- having said that, the renewal process is easy to do as it is online. With your CR, here’s what you can and cannot do:

• You can open a corporate bank account.

• You can invoice and accept payments from your customers

• You can buy and own assets under your company’s name.

• You cannot yet get an office space for your business.

• You cannot yet hire someone, and issue him or her an Residence Permit (RP) under your newly minted company.

II. Trade License (Rooksa Baladiya in Arabic)

Next After receiving your CR, you need to get a Trade License, in order to have an office space that’s approved by the MEC for conducting your business activities. Getting a Trade License is usually the hardest part of this process- it can take some time to get this done, so plan your time accordingly. The first step here is to fill out the requisite application form from the MEC website, and submit it to the MEC, along with the following documents:

• A copy of the ID of each of the authorized persons in your business.

• A copy of your CR.

• A copy of your Articles of Incorporation.

• A photo of your office building from the outside, which shows the blue plate that has the address information.

• A photo of your office inside the above building, showing a signage with the name of your business on the door to your office. (Note that the MEC will send a person to inspect your place, so make sure you have proper signage.)

• The building completion certificate and a copy of the ID of the building owner.

• Rental acknowledgement, ownership instrument and Civil Defense approval.

• Authorization letter in real estate rents (in case of subcontracts).

After successfully submitting the documents, you should get an SMS confirming that your application has been received, and that a representative from the MEC will come and inspect your office. Now, this inspector could take anywhere from 1–4 weeks to visit your office; they will call you before they come.

Once the inspection has been done and is deemed successful, you should then get another SMS from the MEC within 24 hours, saying that the trade license is ready to be collected. You then go to the MEC, pay the fees for the trade license. At this point, you should be celebrating, because this is usually the hardest thing to get!

III. Computer Card (Qayd Al Munsha’a in Arabic)

A Computer Card is basically a document that says who is the signing authority on behalf of your company. While the Qatari partner in your company needs to be listed on the Computer Card, the non-Qatari member may not be required to do so. Before you apply for your Computer Card, you will need to get an official company stamp that will be used on all your official paperwork. For this, you can go to any major printing press and order a official company stamp. They will ask a copy of your CR, Trade License and ID copies of the shareholders. This usually takes a day to get done, and it should cost you around QAR120.

Next, you will have to go to Immigration and Passport control office to apply for the Computer Card. You will need the following:

• The requisite application form, which has been duly filled. It will ask for the names of the individuals who want to be on the Computer Card as the signing authority. Also, there will be a place on the form for you to imprint your company’s stamp.

• A copy of your CR.

• A copy of Trade License.

• ID copies of all the shareholders in the company

• ID copies of individuals who needs be on the computer card.

Note here that at this point, you don’t have any employees, so only the shareholders can be on the Computer Card. But once you have employees under your company’s RP, you can have them listed on the Computer Card as well. They don’t need to be shareholders to be on the computer card. Once you have all of the above, you then pay the fees, and you will be issued your Computer Card. Some of the major things you can do with your Computer Card:

• Hire employees and issue them RPs.

• Issue exit permits for your employees.

IV. Apply for Visa and bring in your Staff.

Application for Visa need to be done online using the Hukoomi Qatar ID card of the Person whose name is there on the computer Card . You will finally get visa for your staff after several rejections.