Qatar reduces commercial service fees and ground rents
07/07/24
Qatars Ministry of Commerce and Industry (MOCI) has announced upto a 90% reduction of selected service fees for the commercial, industrial, business development and consumer protection sectors.
The new resolution aims to support and encourage national and foreign projects. In addition, it seeks to create an attractive commercial environment for investment. Most importantly, the new resolution falls in line with the Third National Development Strategy 2024-2030, which aims to diversify the economy and achieve sustainable economic growth in pursuit of the Qatar National Vision 2030.
It is expected that the huge reduction in fees will support entrepreneurs, small and medium enterprises, startups and national projects - either individuals or companies. Moreover the strategy will also enhance innovation and competitiveness and encourage local, regional and foreign investment.
The new fee structure follows extensive studies by the Ministry of Commerce and Industry of the country`s business environment. As a result the new fees encompass all Ministry sectors and include services such as commercial registration, commercial licenses, commercial agents registry, corporate services and investment business services. Further service fee reductions include auditors, copyright and neighbouring rights, patents, protection of designs and industrial models, industrial development and quality licenses. More details about the reduced service fees are provided in this link.
In further positive business news, Qatars Ministry of Municipality has announced a huge decrease in the rental price of Industrial Zone commercial land from QAR 100 (USD 27.5) to QAR 10 (USD 2.8) per square metre annually – a 90% reduction.
The decision aims to support commercial, industrial and logistical activities and will be implemented immediately. Moreover the new strategy supports the objectives of the Third National Development Strategy 2024-2030 to improve market mechanisms and advance competitiveness of local products. The new decision stipulates the signing of contracts for 25 years.
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Please click on the link to learn more about commercial service rates and ground rental in the State of Qatar as well as the initiatives of Business Start Up Qatar.
