The State of Qatar has advanced and enhanced the legal framework in the past year with the aim and intention to simplify the processes, policies and procedures, to be more attractive for foreign investors and to cut red tape. With the 2022 FIFA World Cup fast approaching there will be more significant updates in 2021 which will benefit those who are doing business in the country.
One of the most important revisions to the Labour Law is the abolishment of the No Objection Certificate (NOC). The amendment provides the opportunity for employees to change jobs before the end of their contracts and to move freely from company to company. Additionally, employees can move jobs without needing to fulfil their employment contract with the original employer, if they provide notice. In most circumstances, expatriate workers’ resident permits will now be valid for ninety days from expiry allowing a change of employers while remaining in the country.
Another important amendment to the Labour Law is the introduction of a minimum wage of QAR 1,000.00 (USD 275.00) per month for all employees. This is a very big step in the protection of employee rights in the country.
The Ministry of Commerce and Industry (MoCI) clarified the option of 100% foreign ownership of businesses in the State of Qatar. Traditionally, businesses were required to collaborate and cooperate with a local partner, a natural person with the nationality of the State of Qatar or a legal entity fully owned by a natural person with the nationality of the State of Qatar. Whereas, a local partner had to hold at least fifty-one percent of the shares of the business. Additionally, MoCI established a unified economic registry for more transparency.
With the aim and intention to attract more foreign investment, the government extended the number of areas where non-Qataris are allowed to purchase residential and non-residential properties on a freehold basis to twenty-five.
To improve the legal framework in the State of Qatar, the Singapore Convention on Mediation was ratified. The Convention creates a harmonized legal framework for the right to invoke settlement agreements resulting from mediation as well as for their enforcement.
An amendment to the intellectual property law resulted in more protection of industrial designs.
The Qatar Financial Markets Authority (QMFA) introduced updated rules for dealing in the Qatar Stock Exchange (QSE). These amendments have been made following the Liquidity Provider Rules issued by the QFMA and now allow financial service providers to conduct market making activities upon obtaining a licence from the QMFA.
The government has introduced a framework for the operation and regulation of the railways in the State of Qatar.
To complete the country’s infrastructure in line with the Qatar National Vision 2030 and with the aim and intention of involving the private sector in the economic development, an updated law was introduced to regulate private public partnerships. It contains provisions for licensing and operating transfer arrangements as well as how projects will be tendered and awarded.
The law defining charities has been updated to simplify operating processes, policies and procedures. It relates to member rights and formal communication channels.
Please click on the link and reach out to learn more about the latest developments in the State of Qatar and Business Start Up Qatar.
The State of Qatar is ranking ninth on the list of top countries for entrepreneurs according to the National Entrepreneurial Context Index (NECI)...Read more
The State of Qatar is a very promising investment market according to a recent report by The Investment Promotion Agency Qatar (IPA Qatar).
The report “Invest Qatar Annual Report 2021”...Read more
Qatar’s foreign merchandise trade balance increased by 171 percent in November 2021 compared to November 2020 according to the latest figures released by the Planning and Statistics Authority...Read more
A webinar hosted by the Qatar Financial Centre (QFC) and titled “Exploring Tender Opportunities at the Supreme Committee for Delivery & Legacy” discussed the potential for businesses and projects related...Read more
The State of Qatar is expected to invest more than QAR 113.15 billion (USD 31 billion) into large-scale projects this year. The estimation is in line with the country’s QAR 47.45 billion (USD 13 billion)...Read more
Qatar’s plans to expand the Liquefied Natural Gas (LNG) capabilities and capacities promise a major boost to the growth of the national economy. The expansion results in a projected surplus between 2021...Read more
Qatar’s budget for the first quarter of this year was exceeded by QAR 200 million (USD 54.8 million). The surplus is partly related to the most recent increase in the oil prices, the level of budgetary...Read more
Qatar has witnessed a lot of investment in the digital sector in line with the digital transformation of the country and the establishment of a knowledge-based economy as set out in the [Qatar National...Read more