Amir issues law on non-Qatari capital investment

QNA / The Peninsula
Doha: 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.

H H the Amir issued Law No 3 of 2019 amending some of the provisions of the Civil and Commercial Procedure Law, enacted by Law No 13 of 1990. The law is effective and shall be published in the official gazette.

H H the Amir issued Law No. 4 of 2019 amending some provisions of the judicial authority promulgated by Law No. 10 of 2003. The law is effective starting from the day following the date of its publication in the official gazette.

H H the Amir also issued Law No. 5 of 2019, amending some provisions of Law No. 10 of 2002 on Public Prosecution. The law is effective starting from the day following the date of its publication in the official gazette.

H H the Amir also issued an instrument of ratification approving a draft memorandum of understanding between the Ministry of Education and Higher Education of the State of Qatar and the Ministry of Higher Education of the Sultanate of Oman on cooperation in the field of science and higher education. The draft MoU was signed in Doha on June 7, 2018.

H H the Amir issued an instrument of ratification approving the ratification of an agreement on the promotion and protection of mutual investments between the Government of the State of Qatar and the Government of the Republic of Togo. The agreement was signed in Doha on April 30, 2018.

أصدر حضرة صاحب السمو الشيخ تميم بن حمد آل ثاني أمير البلاد المفدى، أمس، القانون رقم (1) لسنة 2019 بتنظيم استثمار رأس المال غير القطري في النشاط الاقتصادي. وقضى القانون بتنفيذه، وأن ينشر في الجريدة الرسمية.;