To start a small business

By the-birdie •

One of my friend, wants to purchase an exisitng Music training institute, which is owned by his Indian friend.

Does he have to invest QR. 100,000 in the Bank, to get the CR number to be transferred in his name ?

IS IT A MUST ?

Can he invest the amount once, and withdraw the amount after one week ?

IS it compulsorily kept in the bank, for years, as long as he runs the institution ?

An authentic reply is expected

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2 comments Sort by rating

By humzafar• 3 Oct 2008 00:30

Rating: 5/5

Your post is not clear in some aspects:

1. Is the institute a WLL company? If it is WLL it is not 100K but 200K

2.Is your friend going to buy whole of shares or only the share of the foreign partner?

It is true that you have to deposit a total sum of 200K in bank account when you start a new WLL company, this can be withdrawn once the registration formalities are over.

By anonymous• 1 Oct 2008 16:36

Rating: 4/5

You can get an "authentic" reply from the Ministry of Commerce!

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To start a small business

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