A separate legal entity with limited liability. Companies Limited by Guarantee (LLC(G)s) will have no share capital, and instead provide an undertaking from each of its members, to contribute to the assets of the LLC(G) in the event of its being wound up, an amount not less than QAR 1000
LLC(G)s are the best suited legal structure for Business Councils, Chambers of Commerce, Professional Associations, Technical Societies, and other similar types of organisations
There shall be a minimum number of one member, which can be either a natural person or a body corporate, of any nationality
An LLC(G) must have one Director, and a Secretary. An LLC(G) shall also appoint a person to hold its Senior Executive Function
An LLC(G) shall at all times have a registered office situated in in a QFC approved premises, and shall carry out its business from such registered office
The accounts of an LLC(G) need not be audited by a QFC approved auditor, but must be approved by a general meeting of the members of the LLC(G), and filed with the CRO
The Qatar Financial Centre Authority (“QFCA”) is committed to ensuring and enhancing transparency by adhering to the legislation on Anti-Money Laundering and Combating Terrorism. In line with this commitment and as a part of its duty in setting up different legal structures or arrangements in the Qatar Financial Centre (“QFC”), the QFCA also has the responsibility for gathering Basic Information regarding such structures or arrangements and identifying their ultimate beneficial owners. It is the responsibility of the legal structures or arrangements registered with the QFC, to maintain at its Registered Office, a Register of Basic Information, a Register of Beneficial Owners and a Register of Nominees, in addition to any other Register required to be maintained under any QFC Regulations and Rules.