Foreigners may invest up to 100% of project capital in Qatar

DOHA: Foreigners may invest up to 100 percent of project capital in Qatari business sectors under a new law approved on Wednesday.

Qatar’s state news agency QNA announced that the cabinet had approved draft legislation governing investment of non-Qatari capital in the economy.

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The legislation will replace Law No 13 from 2000 to further open up the country to foreign investment, it said. Under the changes, Non-Qataris may invest up to 100 percent of project capital in all sectors of the economy provided they have a Qatari agent.

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 the proposal is backed by ministers.

GCC citizens are treated as Qatari citizens when it comes to ownership of Qatar stock exchange-listed companies, QNA added.