We would like to bring to your attention about a recent requirement from the Ministry of Economy and Commerce regarding constitutional amendments required from public and private joint stock companies. Please read below.
Should you need any clarifications, please do not hesitate to contact us.
March 5, 2017
The Ministry of Economy and Commerce has called on public and private joint stock companies with branches operating under different names and conducting activities other than the ones listed under the main branch to come forward to ensure compliance with the provisions of Law No. (20) of 2014 that introduced amendments to some provisions of Law No. 25 of 2005 regarding the commercial register.
Companies that come forward to the ministry's headquarters on the second floor of Tower B in Lusail City, between March 6 and April 30, 2017, will be exempted from fees.
The initiative comes within the framework of the ministry's efforts to provide support for commercial companies in Qatar, and to bolster the role of the private sector and its contribution to the economic development of the state in a bid to build a competitive, diversified and sustainable economy in line with the Qatar National Vision 2030.
The ministry noted that if the branch name is different from the main company's name, public and private joint stock companies wishing to separate the branch and incorporate another independent company should submit a memo by the company's chairman, his deputy or an authorized representative requesting the deletion of the branch name, along with a copy of the board of directors' decision in this regard. The chairman or an authorized representative should also sign a notation on the commercial registration form that can be obtained from the ministry's website www.mec.gov.qa, along with a copy of their personal ID.
In the case of a financial institution, the applicant should obtain an approval from Qatar Central Bank and meet the legal requirements for the incorporation of a new company depending on its legal structure.
If the branch is operating under a different name or conducting activities other than the activities of the main company, public and private joint stock companies should submit a letter by the company's chairman, his deputy or an authorized representative.