ADVISORY COUNCIL APPROVES DRAFT LAW ON INVESTMENT OF NON-QATARI CAPITAL

The Advisory Council yesterday held its regular weekly session, chaired by HE the Speaker Ahmed bin Abdullah bin Zaid Al-Mahmoud.

At the outset of the session, the Council discussed the report of the Financial and Economic Affairs Committee on a draft law regulating the investment of non-Qatari capital in the country’s economic activity. After discussing the draft law, which aims at attracting non-Qatari capital to invest in the country to promote economic development, the Council approved the draft law and decided to forward its recommendations to the Cabinet.

The Council Speaker said that the draft law allows non-Qatari investors to invest in all sectors with 100% of the capital, on condition that the investor has a Qatari services agent in Qatar. In case there is a Qatari partner, such partner shall not be a services agent to the company.

Source: Government of Qatar