Good News! MoCI Slashes Fees by Over 90%

Good News! MoCI Slashes Fees by Over 90%

QLNews
By QLNews

As part of a move to stimulate economic growth, the Ministry of Commerce and Industry (MoCI) has announced a reduction in service fees, cutting costs by over 90% across key sectors like commerce, industry and business development, and consumer protection sectors.

The initiative, outlined in the Ministerial Decision No. (60) of 2024 issued by H E Sheikh Mohammed bin Hamad bin Qassim Al Thani, aims to foster a more attractive business environment in Qatar. By significantly lowering fees for services related to commerce, industry, business development, and consumer protection, the decision supports national and foreign enterprises and creates an attractive business environment for investment. The ministerial decision will take effect after it is published in the official gazette.

In a statement, the Minister emphasized that the issuance of the decision to reduce fees is part of the ministry’s strategy aimed at enhancing the investment environment and developing the trade and industry sectors in Qatar. It also aims to implement the objectives of the Third National Development Strategy (2024-2030), which seeks to achieve sustainable economic growth, economic diversification, and the development and enhancement of the business environment in pursuit of achieving the Qatar National Vision 2030.

The annual fee for registration in the commercial register with one main activity has been changed from upto QAR 10,000 to QAR 500. The annual fee for renewal of registration in the commercial register with one main activity has been changed from upto QAR 10,000 to QAR 500.

The annual fee for licensing of similar commercial, industrial, or public premises or a branch thereof has been changed from upto QAR 10,000 to QAR 500. The annual fee for renewal licensing of similar commercial, industrial, or public premises or a branch thereof has been changed from upto QAR 10,000 to QAR 500.

The annual fee for licensing of home-based business activities have been changed from upto QAR 10,000 to QAR 500. The annual fee for renewal of licensing of home-based business activities has been changed from upto QAR 10,000 to QAR 500.

The decision to reduce service fees will support national enterprises and entrepreneurs, both individuals and companies.

It will significantly facilitate investors obtaining high-quality services at reduced fees and enhance the competitiveness of individuals and companies to support new enterprises and encourage investors to expand their businesses in various sectors, he added.

The reduced service fees include: Commercial Registration, Commercial Permit, Commercial Agents Registry, Commercial Company Services, Practicing Consultancy Services, Auditors, Quality Licenses, Patent Services, Protection of Designs and Industrial Models, and Industrial Development Services.

This announcement comes after the Ministry of Commerce and Industry evaluated, analyzed and conducted detailed studies of the business environment requirements and investors’ needs. These reductions encompass all the ministry sectors (Commerce, Industry  and Business Development, Consumer Affairs), and include services like commercial registration, commercial licenses, commercial agents’ registry, corporate services, investment business services, auditors, copyright and neighboring rights, patents, protection of designs and industrial models, industrial development and quality licenses.

It is expected that the decision will have a significantly positive impact on the market, specifically services related to company formation, issuance of commercial registrations, and licensing of commercial outlets. A new commercial registration and/or license, for example, has now been set at only QAR 500, which is designed to encourage and support the start of new commercial ventures in the country. 

A major part of the initiative announced by the minister aims at attracting more foreign investments to Qatar and enhancing the role of the private sector in achieving economic diversification and a sustainable economy. He added that the ministry will continue developing its service offering to provide an ideal and flexible experience for local and foreign consumers and investors with the goal of enhancing Qatar’s position as an attractive investment destination.

  

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