Closing a Business in Qatar
There may come a time when you no longer want to continue in the business. If there is no-one to take the business off your hands by acquiring it, then you may decide to simply close it up.
For Establishments, the process for closing the same is simple. You only need to cancel your commercial registration and your trade licence. This is done by completing a form provided by the Ministry of Business and Trade and supply a formal request to cancel the commercial registration.
For Companies the process is more complicated. When a company is seeking to close its operations it needs to appoint a liquidator. That person is usually an accountant or some such professional and his job will be to collect all debts, sell assets, pay creditors and distribute surplus funds to shareholders. The shareholders of the company have to appoint that liquidator who will remain in charge of the company until the liquidation is complete, at which time the liquidator then seeks de-registration of the company with the Ministry of Business and Trade. During the time the liquidator is in place the shareholders have no control over the affairs of the company.