The Ministry of Economy and Commerce has asked public and private joint stock companies with branches operating under different names with a different activity to strictly abide by the provisions of the amended law regulating commercial register.
Companies can get their status rectified by visiting the Ministry's headquarters on the second floor of Tower B in Lusail City, from today until April 30 during which they will be exempted from fees.
The Ministry said 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 authorised 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 authorised 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 authorised representative requesting the amendment of the branch name to match that of the main company and conform with its activities.
Financial institution should obtain QCB approval
The applicant should also provide a copy of the board of directors’ decision in this regard.
The chairman or an authorised representative should also complete and sign a notation for commercial registration form that can be obtained from the ministry’s website.
In the case of a financial institution, the applicant should obtain an approval from Qatar Central Bank.
The Ministry of Economy and Commerce stressed that in all cases, the main company and branches’ activities must conform with the purpose of the company as stated in its statute.
