Expanding into
Qatar
International companies expanding into the State of Qatar will be entering an economy that is based on oil and natural gas. In 2022, through the state-owned Qatar Petroleum, it was the world leader in exporting liquefied natural gas (LNG) and fifth globally for exporting natural gas generally. Qatar holds the world’s third largest reserves of natural gas, with the majority in the offshore North Field it shares with Iran. Qatar is also just inside the world’s top 20 for oil exports.
Get the Support You Need
Global Expansion is a step to make for any business, regardless of your goal. But the opportunities that can come with an expansion can be stimulating as well as intimidating and confusing, especially when you consider all of the registration procedures that need to be done and the documentation required.
Going at it without the proper support can increase the costs, time and risks involved.
The legwork and potential red tape can be worked through more efficiently and cost-effectively with the support of a Professional Employer Organisation (PEO) such as Bradford Jacobs, primarily through our Employer of Record (EOR) framework.
It can be best utilised when businesses are just beginning their expansion process and require more information before incorporating an entity and fully establishing themselves in that market.
Hiring Staff
in Qatar
International companies expanding into the State of Qatar will be entering an economy rich in two specific natural resources – natural gas and oil. Qatar holds the world’s third-largest reserves of natural gas, is the fifth-largest exporter and globally the No.1 exporter of liquefied natural gas (LNG). Qatar is also inside the top 20 exporters of oil.
Despite the wealth generated by producing and exporting oil and LNG, Qatar falls outside the world’s top 50 nations for Gross Domestic Product, with 179.6 billion US dollars in 2021, a 24% increase over 2020 and 54th in the world. GDP was predicted to reach US$187.83 billion by the end of 2022 and US$195.34 billion through 2023. Qatar is in the world’s 10 richest nations per capita assessed on Gross National Income (GNI).
This anticipated growth is in line with Qatar’s drive for diversification and an economy that goes beyond oil and gas. The risks in depending on oil and gas were highlighted by the economic blockade imposed by its neighbours, including Saudi Arabia, the UAE, Egypt and Bahrain from February 2019 till January 2021.
Qatar sidestepped this to a degree by boosting economic relations with non-Arab nations. Its international memberships include: the Non-Aligned Movement; the Organisation of Islamic Cooperation (OIC) and the Organisation for Economic Cooperation and Development.
The Qatar National Vision 2030 (QNV 2030) aims to create a business environment favourable to increased investment in employment, diversification, modernisation and public-private partnerships (PPPs), although the largest companies in Qatar are all state-owned.
Hiring Staff
in Qatar
Despite the wealth generated by producing and exporting oil and LNG, Qatar falls outside the world’s top 50 nations for Gross Domestic Product, with 179.6 billion US dollars in 2021, a 24% increase over 2020 and 54th in the world. GDP was predicted to reach US$187.83 billion by the end of 2022 and US$195.34 billion through 2023. Qatar is in the world’s 10 richest nations per capita assessed on Gross National Income (GNI).
This anticipated growth is in line with Qatar’s drive for diversification and an economy that goes beyond oil and gas. The risks in depending on oil and gas were highlighted by the economic blockade imposed by its neighbours, including Saudi Arabia, the UAE, Egypt and Bahrain from February 2019 till January 2021.
Qatar sidestepped this to a degree by boosting economic relations with non-Arab nations. Its international memberships include: the Non-Aligned Movement; the Organisation of Islamic Cooperation (OIC) and the Organisation for Economic Cooperation and Development.
The Qatar National Vision 2030 (QNV 2030) aims to create a business environment favourable to increased investment in employment, diversification, modernisation and public-private partnerships (PPPs), although the largest companies in Qatar are all state-owned.
The Main Sectors of the Qataris Economy
The country focuses on the following key sectors, which all have a significant impact on the country’s economy:
The Main Sectors of the Qataris Economy
The country focuses on the following key sectors, which all have a significant impact on the country’s economy:
Commercial Laws in
Qatar
Commercial Laws in
Qatar