MoCI Highlights the Law Regulating Investment of non-Qatari Capital in Economic Activity

The Ministry of Commerce and Industry (MoCI), highlighted the main provisions of the law regulating the investment of non-Qatari capital in economic activity, which aims at promoting economic development, attracting foreign investment in all economic and commercial activities, attracting 100% of foreign capital inflows, accomplishing economic diversification in line with the Qatar National Vision 2030, facilitating foreign investors’ access to the market and bolstering the country’s confidence and investment security index in the country.

The MoCI explained that the first article of the law identifies a non-Qatari investor as a person who invests his/her money in any of the projects authorized for direct investment in accordance with the provisions of this law. Non-Qatari capital, on the other hand, is defined as money, in-kind investments, or rights held by non-Qatari investors.

The law also outlines regulations governing the investment of non-Qatari capital, which is permitted in all sectors of the economy across the country. Investments may be undertaken after submitting a request to the competent department, which processes the application within 15 days. A non-Qatari investor, whose application is rejected, may appeal to the minister within 15 days and the appeal shall be considered within 30 days. A non-Qatari investor is prohibited from investing in the banking industry and insurance companies, except for companies excluded based on a decision of the Council of Ministers, and they are also prohibited from investing in commercial agencies and may be prohibited from investing in any other sector as decided by the Council of Ministers.

Source: Government of Qatar