Although Qatar only has a population of 1.7 million people, Forbes magazine recently named it as the richest country in the world. The government of Qatar has been pouring vast amounts of money into the country’s infrastructure, which has spurred the economy and made it a popular location for new businesses. Many of the new startup businesses are combining the traditional with the new by creating websites, and the best way for a business to develop a powerful online presence is to purchase a Qatar domain.
Starting a business in Qatar is far from simple. The process is tedious and so complex that many prospective business owners give up before the business is off the ground. However, for the ones that make it, the hard work eventually pays off. If you are thinking about starting a successful business in Qatar, the following tips will be very helpful.
Business in Qatar Is a Local Affair
The point of Qatar’s new economy is to provide new opportunities for Qataris. Therefore, the law states that a majority stake in all businesses must be owned by Qatari locals. This means that the first step in creating a business is to find an investor who will act as the primary company owner. Since the local Qatari will own a majority of the business, he or she will also have the final say on important business decisions.
You must be very careful whom you choose as the company owner or you risk losing your say in how the business is to be run. For this reason, many people are choosing investment firms over individual investors. You can be safe knowing an investment firm has profit as its number one motivator while an individual may make decisions on a whim.
Familiarity Breeds Success
Before establishing a business in Qatar, you will want to make yourself familiar with the geography of the land and the culture of the people. You will also want to study the laws of Qatar, which can vary among the country’s states. When you know the state where your business will be located, you will want to study that state’s laws exceptionally well. Studying the law could also have some added benefits, such as procuring government funding for your startup.
Establish a Web Presence
The best way to establish an Internet presence in Qatar is to register a Qatar domain. This lets locals know that your business is in their country, and it makes them more likely to trust you. The best part about the .qa top-level domain is that many more domain names are available than with .com, .net and .org top-level domains.