Qatar Amir issues new law allowing 100% foreign ownership

0

Qatar Amir H H Sheikh Tamim bin Hamad Al Thani issued Law No. 1 of 2019 regulating the investment of the non-Qatari capital in economic activity. The law is effective and shall be published in the official gazette.

The law opens the way for foreign investors to own 100 percent ownership in all sectors, as well as support for investors’ entry into the Qatari market.

The law offers many investment incentives including allocation of land to non-Qatari investors to establish investment through the use or rent in accordance with the applicable rules and regulations.

The non-Qatari investors can import what he/she needs for the investment, in addition to exempting the project from income tax in accordance with the procedures and regulation stipulated in the Income Tax Law.

The law stipulates that the non-Qatari investment projects shall be exempted from customs duties on their imports of machinery and necessary equipment they import for their establishments.

In the field of industry, raw materials and semi-manufactured items for production which are not available in the local markets will be exempted from custom duties on their imports.

H H the Amir also issued Law No. 2 of 2019 on supporting the competitiveness of national products and combating harmful practices to them in international trade. The law is effective and shall be published in the official gazette.

Published on 8 January 2019
Source: QNA

Leave a Reply