TaxSavvyQA

Opening a bank account after setup

The bank asks for many documents to open our company account. What should we prepare?

The situation

Banks need the CR, licence, articles, signatory IDs and KYC on owners before opening an account.

The law

  • Commercial Companies Law No. 11 of 2015: Rules on company forms, auditors, dissolution and liquidation
  • Ministry of Interior Establishment ID service: Company immigration record needed before visas and residence permits; needs a valid CR and licence

What it means for you

Have the CR, licence, articles, establishment ID, QIDs of signatories and a business plan ready. Banks also check beneficial owners. A Qatar bank account is needed for WPS payroll.

What to do

  1. Collect all corporate documents.
  2. Prepare beneficial owner details.
  3. Book a bank meeting.
  4. Set up WPS with the bank.

We can do this for youMainland company setup through MOCI and the Single Window (LLC with foreign ownership): QAR 9,500

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