A new foreign investment law, which took effect in January 2019, has made it easier than ever to invest in Qatar. Foreign investors can now own 100 percent of a Qatari corporation under the new law. Previously, foreign investors could only own 49% of the company (with a local Qatari partner taking 51 percent).
Qatar invests the funds from its vast oil and gas reserves in other sectors to diversify its economy and build a strong private sector, and it works to attract foreign investors to invest in sectors other than oil and gas in the country through full and active membership in the World Trade Organization and flexible business regulations. Investing in Qatar is a treat to investors now.
Qatar offers numerous investment incentives, including low electricity, water, and gas rates; a nominal lease rate of only (5) Qatari Riyals per square meter per year for industrial land sites for the first three years from site assignment to project completion and a nominal lease rate of only (5) Qatari Riyals per square.
Incentives for investment
- Investors from outside Qatar may be excused from paying income tax for up to ten years.
- Imports of relevant machinery and equipment by non-Qatari investors may be excluded from customs.
- A renewable rent over a lengthy renewable period of not more than 50 years can be used to grant land for a foreign investment project.
- Non-Qatari industrial investors may be excluded from customs taxes on imports of raw materials or semi-finished items that are required for production but are not accessible on the local market in the case of investing in Qatar.
- Import tariffs on relevant machinery and equipment may be imposed on non-Qatari investors.
- Non-Qatari investors will be able to make private money transfers from outside the country to their interests in Qatar.
- These transfers can be made in any convertible currency at the current exchange rate on the conversion date.
- According to Law No. 13 of 2000 regulating the investment of foreign capital in economic activity, non-Qatari investment, whether direct or indirect, is not liable to looting or any analogous act.
- Non-Qatari investors have the right to sell their investment to another non-Qatari or national investor.
Investment sectors for investing in Qatar
- Development & exploitation of natural resources
- Sports, Recreational, and Cultural Services
- Information technology
- Consultancy & Technical Services
- Investment in the state of Qatar
Qatar is an appealing investment destination because it provides investors with political and social stability as well as a wide range of benefits for energy-consuming sectors. Qatar possesses the world’s greatest gas reserves and is located in a strategic location within the Gulf area.
Investing in Qatar gives the best opportunities. In addition, Qatar has adopted a free market economy and created regulations and legislation that are constantly changed to promote an open economy with no commercial restrictions, customs charges, or limits on money transfers, as well as giving incentives and facilities to boost investment profitability.
How to submit an investment application for a non-Qatari company
- Visit the Ministry of Economy and Commerce’s website to prepare the relevant documents and paperwork: www.mec.gov.qa
- Submit the request electronically or through the Ministry of Economy and Commerce’s Business Center
- The department of Business Development and Investment Promotion examines and assesses the application.
- The application is forwarded to the Minister of Economy and Commerce with an initial recommendation for approval.
- A commercial register is issued if the application is approved.
Some major ongoing projects in Qatar
The economic projects implemented by the State of Qatar contribute to the achievement of Qatar National Vision 2030 and the promotion of a diversified and competitive national economy that ensures comfort and prosperity, high living standards, and meets the current and future needs of the country’s citizens and residents.
Al Wa’ab City provides high-quality and genuinely meaningful offerings for residents, guests, and visitors at every touchpoint. Al Wa’ab City is a low-rise, low-density development with a true feeling of place in Doha, surrounded by important arterial roads, adjacent to the proposed metro, and next to some of Doha’s top schools.
The Al Karaana Economic Zone
The Al Karaana Economic Zone is dedicated to assisting specialized industries and logistical services. Al Karaana Economic Zone covers a total area of 38.43 km2 and is strategically placed halfway between Doha and Abu Sumra on the Saudi Arabian border.
Al Karaana has all of the necessary infrastructures in place to successfully serve GCC countries and global markets.
Energy City Qatar (ECQ)
Energy City Qatar (ECQ) is the first integrated energy business hub in the Gulf Cooperation Council and the Middle East. The goal of ECQ is to improve the Gulf region’s ability to capture important hydrocarbon revenue streams and serve as a nucleus for the Middle East’s burgeoning oil and gas industry.
ECQ is around 20 kilometers north of Hamad International Airport, halfway between the Dafna business/residential sector and the Lusail development district on Qatar’s east coast. The Al Khor expressway connects the property to Lusail City.
Msheireb, Msheireb Properties’ main project, will refresh and preserve Doha’s ancient downtown. This groundbreaking project, estimated to cost QR20 billion, intends to restore the city’s old commercial center with a new architectural language based on community living, spanning a 31-hectare (76-acre) space.
The project’s goal is to reconnect individuals with their roots – to rediscover Doha’s uniqueness and a sense of belonging. It reflects Her Highness Sheikha Moza Bint Nasser, the chairman of Msheireb Properties, who wants to construct and build surroundings that reflect Qatar’s culture and aspirations.
New port in Doha
One of the largest greenfield port developments in the world. The QR27 billion ($7.4 billion) megaproject, which comprises a new port, a new facility for the Qatar Emiri Naval Forces, and a naval channel within the Qatar Economic Zone3, is strategically placed south of Doha.
Qatar has solidified its place on the global financial map as one of the world’s fastest-growing economies. Within the framework of the state’s economic policies adopted under the wise supervision of His Highness Sheikh Tamim Bin Hamad Al-Thani, Emir of Qatar, this economic boom boosted Qatar’s position as an attractive investment destination. Investing in Qatar gives high incentives and groomed opportunities where one can flourish his business.