HH The Amir issues a new law which paves the way for 100% foreign ownership

By QLNews

In a significant move, HH The Amir Sheikh Tamim bin Hamad Al Thani has issued Law No. 1 of 2019, regulating the investment of the non-Qatari capital in economic activity. The law will become active once it is published in the official gazette.

The biggest takeaway of the new law is that it paves the way for foreign investors to own 100% ownership in all sectors. The new law also provides excellent support for foreign investors to enter the Qatari market, reported The Peninsiula.

The new law makes the deal sweeter by offering many investment incentives to foreign investors, including allocation of land to establish investment through the use or rent by the applicable rules and regulations.

Non-Qatari investors can import what he/she needs for the investment, in addition to exempting the project from income tax by 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 customs duties on their imports.

HH 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 No 3 of  2019 amends some provisions of the Civil and Commercial Procedure Law, enacted by Law No 13 of 1990.

Law No. 4 of 2019 amends some provisions of the judicial authority promulgated by Law No. 10 of 2003.

Law No. 5 of 2019 amends certain provisions of Law No. 10 of 2002 on Public Prosecution.

By Mohammad Tariq Madar• 2 weeks 9 hours ago.
Mohammad Tariq Madar

Excellent, we proud of you HH Emir.

By Mohammad Tariq Madar• 2 weeks 9 hours ago.
Mohammad Tariq Madar

Excellent, we proud on HH Emir.

By mohammad1990• 2 weeks 11 hours ago.
mohammad1990

Being a foreign investor this is a good newsy realy appreciate

By onedollarwebhostings• 2 weeks 1 day ago.
onedollarwebhostings

[url=http://www.google.com] google[/url]

google

By Mohdshokeen• 2 weeks 1 day ago.
Mohdshokeen

Wow. Super move for bright future.

Log in or register to post comments

Everything you need to know about The Color Run 2019 in Qatar

The Color Run presented by Sahtak Awalan: Your Health First, is set to take place at the Qatar National Convention Centre on Saturday 26th January 2019.

After chilly days, Qatar’s Met Dept says temperatures set to climb in coming weeks

The chilly weather Qatar had been experiencing in recent weeks is winding down, and the temperatures are expected to climb back up beginning Thursday, according to the Met Department.

Hamad International Airport to handle more than 53m passengers every year by 2022

The Hamad International Airport, which has been growing steadily, will complete its second phase of expansion by 2022 and it will see the airport’s passenger and cargo handling capacities improve dramatically.

Qatar beat Iraq 1-0 to set up a last-8 clash against South Korea in the  AFC Asian Cup

Qatar once again maintains a clean slate as they beat Iraq 1-0 to set up a quarterfinal showdown with South Korea in the ongoing AFC Asian Cup.