Foreigners may invest up to 100 percent of project capital in Qatari business sectors under a new law approved on Wednesday.
The legislation will replace Law No 13 from 2000 to further open up the country to foreign investment. Foreign investors may own up to 49 percent of the capital of companies listed on Qatar Exchange, subject to government approval, and they may own more than 49 percent if ministers back the proposal.
GCC citizens are treated as Qatari citizens when it comes to ownership of Qatar stock exchange-listed companies.
The legislation applies to any cash transferred to the state through banks and licensed financial companies; assets imported for investment purposes; profits, revenues and reserves accumulated from the investment of non-Qatari capital in any Qatari project; and, ‘moral rights,’ such as licenses, patents and trademarks registered in Qatar.
resources such as oil, and companies in which the Qatar government already invests equity in partnership with non-Qatari investors.