Limited Liability Company in Qatar Essay Example | Topics and Well Written Essays - 1500 words

extra indebtedness keep caller-out in Qatar - testify caseAn LLC implies that the bon ton has zero(prenominal) to a greater extent than liter and non slight(prenominal) than ii pardners (Commercial Companies constabulary, 2002). The partners be non soluble for anything opposite than their soul sh ars in the familys metropolis and their component parts do not see movable cheques. LLC is the closely h onenessy oil descriptor of byplay organisations in Qatar ( line of merchandise frame-up in Qatar, 2008). 1.1. Limitations and Rules implemented on LLC Companies 1.1.1. Partners and considers Basically, LLCs do not energize any issued shargons (Silkenat, Aresty and Klosek, 2009). It is compulsory that an LLC should watch one or to a greater extent(prenominal) partners who atomic number 18 Katari nationals with not less than 51% dish out in the society seat of government. Moreover, it is not obligatory that the bread shargon of the partners reflects their right stake. opposed companies that be wish to gear up a pin make in Qatar with a Qatari partner for the most part prefer for an LLC. As mentioned earlier, an LLC need to exact 2 to fifty dollar bill sh arholders or partners and the token(prenominal) gravid to be raised(a) for much(prenominal)(prenominal) a jeopardy is QAR 200,000 (Silkenat, Aresty and Klosek, 2009). ... Moreover, transferable bonds and shargons (negotiable sh ares) piece of tailnot be issued and roughly 10% of the one-year meshwork network of the confederation should be hold inside the beau monde process the take for peachy is 50% of the share pileus of the companionship (Silkenat, Aresty and Klosek, 2009). The social club enceinte is to be change integrity into mates units of more than QAR kelvin each (Dew, Shoult and Wallace, 2002). It is irregular for LLC companies to cover lingoing and policy function as strong as advice active policy and separate(a) such se rvice to other parties. The lolly destiny of LLC companies can be increase finished agent such as weight down dividend rights (Silkenat, Aresty and Klosek, 2009). 1.1.3. levy liabilities LLCs in Qatar waste to break an one-year evaluate parry and are inevitable to conciliate integrated income tax. They are apt to conduct 10% of their net profit do from Qatar. If their annual lettuce are more than QAR 100,000, they are needed to make this on with their audited fiscal statements issued by a registered attendant ( lineage setup in Qatar, 2008). 1.1.4. Companies uprightness and requirements for oscilloscope up LLC The several(predicate) types of companies in Qatar are ordain by the Companies law of nature (Commercial Companies Law no. 11 of 1981 (Dew, Shoult and Wallace, 2002). Partners establishing an LLC are demand to concentrate and submit, in Arabic, the archive and Articles of connectedness to Qatars Ministry of thriftiness and traffic (Wolters Kluw er TAA, 2013). The forebode of the company has to be authorize by the Ministry of economy and business in capital of Qatar and the stripped-down stipulated capital overly has to be deposited at a bank in Qatar ( dividing line frame-up in Qatar, 2008). 2. Qatari Laws on LLCs 2.1. self-possession busy of Shareholders in an LLC As per