Start an accounting, audit firm, or tax consulting business in Doha
The Qatar is home to thousands of businesses requiring the service of accountants, auditors or tax consultants. In some sectors, submitting to an independent annual audit is a prerequisite of holding a license, making the use of such services compulsory.
This presents a great opportunity for entrepreneurs in the Qatar with a head for figures. Although there are some additional steps required, applying for a license to practice as an accountant, tax consultant, bookkeeper or auditor is still relatively straightforward.
As well as a business license, you may also need to hold specific qualifications in your field. Here’s everything you need to know to get started.
Starting your business in the Qatar
Whether you wish to start a chartered accountant (CA) firm in Doha, start an audit firm or are considering starting your own bookkeeping business. There are a few steps that you’ll need to take before making your license application.
The first is to specify your business activity. Every activity you wish to carry out – tax consultancy, auditing, accountancy etc. – must be specified to ensure that you are licensed correctly.
The next step is to choose a company name. This takes a little more thought in the Qatar than in other parts of the world. Why? Because the Qatar has a strict, yet easy to follow, set of naming conventions. An expert in company formation can help you make sure you adhere to them.
In short, you should avoid any offensive or blasphemous language. Avoid names of well-known organisations and avoid abbreviations if naming your company after yourself – i.e. Dave Mann Consulting, rather than ASK Qatar Business Services. You must also check that your chosen name is available to register.
Next, you should decide whether you wish to set up in the mainland or in a Qatar free zone.
There are many advantages to both. Free zones such as Qatar Free Zone offer benefits such as a quick and easy incorporation process, ongoing business support and financial incentives such as tax exemptions and zero currency restrictions.
Mainland setup, on the other hand, allows you to trade directly with the Qatar market and take on potentially lucrative government contracts.
The setup that works best for you will depend largely on the nature and size of your business. A company formation expert can advise on the best approach.
Applying for your license
Once you have chosen the right setup, outlined your activities and chosen your company name, you can make your business license application. In most cases you will require a professional services license to trade as either an auditor, accountant or tax consultant in the Qatar.
You can apply for a professional services license either directly to the Department of Economic Development (DED) or direct to one of the Qatar’s many free zones.
Free zones are often the most straightforward and cost-effective way to set up in the Qatar, and offer many attractive benefits including zero percent personal and corporate income tax and 100% exemption from customs tax. Also, unlike in many other countries, Qatar free zone businesses benefit from the freedom of being able to repatriate all invested capital and profits. There are also no foreign exchange controls or currency restrictions.
As well as your license, you will also require further accreditation to work in finance-related professions. The exact requirements will differ depending on the nature of your business.
If you are looking to get your company license in Doha, Doha free zone visa, or the cheapest free zone license or visa in the Qatar, then our team can help. We also offer monthly installment plans for Qatar company registration.
Starting an accounting business The requirements to open an accounting firm in Doha and the Qatar are relatively straightforward. As well as undertaking the steps above, you’ll also need to hold a relevant qualification in accounting.
How to register as an auditor in the Qatar
In order to get an audit license in Doha, Qatar, you’ll once again need to hold an accounting degree or similar qualification. You should also be able to demonstrate relevant experience in the financial/auditing sector. Finally, you must pass an exam before you can obtain your auditing license.
The steps required to start a tax consulting business in Doha are similar to those outlined above. As well as holding a professional services license, you’ll also need to prove that you hold a degree in accounting or a similar field of expertise. You will also be required to pass an exam to become a licensed tax consultant.
Cost of starting an auditing, accounting or tax consultancy firm
The cost of starting an accountancy, audit or tax consultancy firm in the Qatar will depend on several factors such as specific business activities, and company size and location.
Should you choose to set up in Free Zone, for example, you can expect to pay in the region of QAR 19,000 – QAR 25,000 to secure your license and visa. More specifically, the approximate cost for setting up as a tax consultant in Doha City as a single shareholder with eligibility for one visa, plus use of the co-working space would be QAR 20,575.
On top of this, you’ll also need to cover the costs of any additional qualifications and accreditations that may be required.
Ready to start your accountancy, audit or tax consultancy firm in the Qatar?
While the steps needed to start a business in the Qatar are not overly complex, it does require a level of prior knowledge of the process. What’s more, it is important to note that the application process is only straightforward if your business application is complete at the time of submission and free from errors.
To help you ensure that this is the case, it’s a good idea to work with a company formation specialist when establishing a new company in the Qatar.We are ASK Qatar Business Services , the official Doha representative office of Doha City Free Zone. If you are looking to register a new company in Doha, get a Doha trade license, free zone license, or start a small business in Doha, then we can help. From visa applications (including Qatar investor visas) to all the necessary admin tasks, we handle it all – leaving you free to get on with your business.
91% of buyers enjoyed this Services! (87 votes)