real estateDespite ever-changing market forces, real estate often tops the list of investments for the risk-savvy investor. Out here in the Middle East, recent yields have given more reason for confidence – and this upward trend looks set to continue.
The Qatari residential real estate market is expected to grow by a CAGR in excess of 11.5% between 2022 and 2027. So, if you want to invest in this thriving market, keep reading to find out about the following:
- Why start a real estate company in Qatar?
- Steps to open a real estate company in Qatar
- How to grow a real estate company
- Advantages for entrepreneurs to set up a business in Qatar
- How Creative Zone can help
Why start a real estate company in Qatar?
The main reason to start a real estate company in Qatar is the country’s potential. Pre-pandemic, it was not uncommon to see returns of 7.5% percent and beyond. And as the country continues its rapid recovery, we can expect to see similar trends in the months and years ahead.
Adding to this potential for significant returns is the upcoming FIFA World Cup, which is sure to focus not just attention but investment in the region. Recent estimates suggest that the event – the first to be held in the Middle East – will boost the local economy by up to USD 20bn.
Qatar is also a welcoming destination for non-citizen investors. The country allows 100% foreign ownership of real estate businesses as well as repatriation of profits. Non-Qataris can buy real estate in many areas throughout the country, including both residential and commercial units.
Steps to open a real estate company in Qatar
The first step when starting a new business in Qatar is to seek out the services of a local expert. The team at Creative Zone can assist with all aspects of starting your business. We’ll get to know your specific needs before guiding you through the following process:
1. Company name reservation
To start things off, we will help you choose your company name. When choosing the name, you should avoid any words that may be considered offensive or blasphemous. You must also only use words that mean something in Arabic, rather than made-up names. Once you have made your decision, we will register and reserve your name with the Ministry of Economy and Commerce (MEC).
2. Draft Memorandum or Articles of Association
Next, we will draft your Memorandum of Association (MoA) or your Articles of Association (AoA), depending on which is required. These are legal documents that outline details about your company and its objectives.
3. Attest MoA/AoA
Once drafted, we will submit your MoA/AoA for attestation. This process is carried out by the Ministry of Justice.
4. Apply for a trade license and tax certificate
The next step is to apply to the MEC for your tax certificate and trade license. This step can only be completed once your MoA/AoA is verified.
5. Secure office space
It is mandatory for all mainland companies in Qatar to have an address of a commercial office space registered against its name. So, if you are setting up in the mainland jurisdiction, you will also need to lease a workspace.
6. Apply for business documents
Once the trade license is obtained, we’ll help you apply for your establishment card from the Ministry of Interior.
7. Tax registration
We’ll help you get your Tax Identification Number (TIN) registered with the Public Revenue and Tax Authority.
8. Company Seal
Finally, your company seal is issued by the relevant authorities. Once received, your company is ready to trade.
How to grow a real estate company
There are several great and proven ways to grow your real estate business in Qatar, including:
Partnerships: Strategic partnerships are a fantastic way to broaden the horizons of your Qatar real estate business. By partnering with local real estate agents, investors and property managers, you can get the inside scoop on potential investments to stay ahead of the competition.
Refurbish and resell: Real estate investment is often seen as a solid long-term investment. But that is not to say there is no potential for quicker wins. Many investors see success by purchasing real estate in need of refurbishment. These properties are then relisted on the market for a higher price.
Diversify: Qatar offers many great options for real estate investment. As well as apartments and houses, look for investments in commercial units, vacation rentals and much more.
Personal development: Even experts can improve their skills. There are plenty of real estate qualifications available both in Qatar and elsewhere. The more you know about your industry, the more efficiently – and potentially profitably – you can run your business.
Advantages for entrepreneurs to set up a business in Qatar
Qatar’s location is a major pull for investors looking to do business here. The country sits at the heart of the Middle East in the Persian Gulf, with direct links by land, sea and air to every corner of the globe. It also benefits from a time zone that overlaps with business hours in most global trading hubs.
When you start a business or invest in real estate in Qatar, you are also eligible for permanent residency, allowing you to relocate to the country. With exceptional healthcare, education and public services, Qatar is hugely popular with expat entrepreneurs and their families. It regularly ranks highly for quality of life, safety and security.
Entrepreneurs out here can also take advantage of a 10% corporate tax rate and double tax treaties with more than 60 countries worldwide.
How Creative Zone can help
Creative Zone is the expert in all things related to business setup in Qatar. We are one of the largest and most trusted company formation advisory firms in the region, with over 44,000 happy clients around the world.
Our team has been committed to providing a comprehensive and one-stop-shop to entrepreneurs looking to launch their enterprises in the Middle East since 2010. Today, we offer assistance with trade licenses, visas, tax and accounting, HR services, media and marketing services, legal, banking, funding, and more.
So, if you’re ready to start your business in this part of the world, we’re your perfect partner. Get in touch today to start the process.
Prices offered by free zones are subject to change without notice. Please get in touch with Creative Zone for an updated price based on the current promotions and availability.