There are plenty of reasons why companies choose to set up in Qatar. Firstly, there’s that growth. In terms of economic growth, Qatar has seen an average annual growth rate of 10% since 2009. With that growth comes a greater need for infrastructure.
In fact, Qatar is to award $200 billion in infrastructure projects by 2030, with $19 billion going to construction projects, and $40 billion going to road works, ports and rail network projects.
As it stands today, Qatar already has an impressive infrastructure, offering residents and business owners’ well-developed electricity, telecommunications and healthcare systems, many of which are subsidised by the government.
Residents of Qatar can also rely on a modern transportation system, made up of a network of roads, ports and airports. It’s also worth pointing out the investments to be made to Qatar’s infrastructure in preparation for the 2022 World Cup, with extensive improvements planned for the transportation infrastructure.
And as for population growth, Qatar has become a magnet for global talent, creating the ideal climate for revitalised business management with increased business opportunities.
As we mentioned before, Qatar is now the wealthiest country in the world. With the wealth generated on the back of strong oil prices, Qatar has developed a dynamic local consumer market, which has driven growth in industries such as real estate, hospitality, retail, leisure and healthcare.
Tax incentives also encourage business setup in Qatar, with corporate tax on foreign companies at a low rate of 10%, and import duty tax at 5%. Qatar’s system also features no personal income or export tax, while its economic zones can offer a wide range of benefits.
On top of that, Qatar offers a high standard of regulatory efficiency, allowing business establishment in Qatar to proceed in a relatively smooth manner.
Lastly, as a member of the World Trade Organisation (WTO), Qatar has worked to improve its investment climate. It has done this by reducing tariffs, removing unnecessary restrictions and barriers to trade, and expanding opportunities for foreign investment.