Doing Business In Qatar
Overview of Qatar
Qatar is one of the smallest Gulf Countries in terms of population and geographical area but the second largest gas reserves in the world representing more than 5% of the world total.
The prosperity of natural resources coupled with the growing and diversifying economy means enormous access to investment opportunities and incentives. The Qatari government adopts a policy aiming at diversifying income resources and developing economic infrastructure.
Specifically, the government expanded the exploration projects in oil and gas sectors and offered numerous incentives to attract foreign investors to carry out similar projects. The Qatari economy is one of the most rapidly growing economies in the world offering the international community a variety of world-class and cutting-edge products and services.
Doing Business In Qatar
Foreign Ownership of Business and Incentives
Qatar welcomes foreign participation to invest in all the various sectors of national economy with 51% Qatari participation. To promote foreign investment in Qatar Government has enacted new Foreign Investment Laws permitting 100 % foreign ownership in business sectors including agriculture, manufacturing, health, education, tourism power and projects which develop and utilize the State's natural resources.
However the law does not allow a non-Qatari to participate in banking, insurance, commercial agency or real estate trading activities. Full foreign ownership is also viable for companies registering under the following zones:
Qatar Science & Technoloy Park
Qatar Science & Technology Park (QSTP) was established by Law No.36 for the year 2004 and is a home for technology-based companies from around the world and an incubator for start-ups enterprises. The QSTP operates as a ‘free-zone', providing favorable investment incentives aiming to be an internationally renowned centre for research excellence and commercialisation.
The QSTP has been successful in attracting leading world-wide business establishments and current tenants include European Aeronautic Defence and Space Company (EADS), ExxonMobil, Gartner Lee, Microsoft, Rolls-Royce, Shell and Total.
Qatar Financial Centre
The Qatar Financial Centre (QFC) was established on May 1st 2005, under Law No.7 of 2005, to attract international financial institutions and multi-national firms to establish themselves in Qatar . Qatar 's vibrant economy and an estimated capital investment programme of over $130 billion in the coming five years provide vast opportunities for international financial institutions.
The QFC provides a familiar international legal and business infrastructure that is separate from the host Qatari systems. The QFC is led by a commercial authority and a regulatory authority which is independent from each other and the government of Qatar .