Doha: Qatar has decided to allow 100 per cent foreign investment in all sectors. The landmark decision happens to be the first law of the new year by the Gulf state.
As per Law No. 1 of 2019 regulating the investment of the non-Qatari capital in economic activity, the new decision 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.
Earlier 100 per cent investment was allowed only in certain specified sectors. The new 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 needs for the investment. Further, the projects will be exempt 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.