Banking & Commerce in Qatar e-Guide: Winter 2020/21

ISSUE 79 WINTER 2020/21

E–G U I D E

Banking and Commerce in Qatar

C O N T E N T S • Banking and Finance • Economy • Commerce Useful Numbers • Investment and Trade

• Special Features The Mark of Qatar Quality SMEs Defined The Court System in Qatar

• Introduction To Qatar Free Zones Untitled-2 1

2/15/21 9:36 AM

Founder & Managing Editor Hilary Bainbridge Marhaba endeavours to quote accurate information and updates each of its sections every issue. However, the company accepts no responsibility or liability for any false, inaccurate, inappropriate or incomplete information presented, whether in print, on the website, or on social media channels. © 2020/21 Marhaba Information Guide.

All Rights Reserved. No part of this magazine may be reproduced, in any form, without written permission of the publishers.

Editorial Sarah Palmer (Editor) , Ola Diab (Deputy Editor) , Terry Sutcliffe Online Lubuna Jeffin Advertising Howard Bainbridge, Charlotte Wright Digital Lalaine Turqueza , Weslee Dizon, Ramla Mohamed Abdirahm Retail Sales Ayen Molina Design and Artwork Dick Tamayo , Mar Principe , Arnel Ramos Dana Public Relations PO Box 3797, Doha, Qatar Tel (+974) 4465 5533, 4465 0083 Fax (+974) 4465 5588 General Information marhaba@qatar.net.qa Retail Sales retailsales@marhaba-qatar.com

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The information contained in this guide has been checked and verified as correct as at the time of compilation. Due to the COVID-19 pandemic, information is subject to change.

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Banking and Finance • • • • •

Useful Numbers: Banks and Exchange Houses The Banking Network in Qatar • Currency The Banking Sector • Qatar Central Bank • Qatar Credit Bureau Loans, Bank Charges and Interest Rates • Accounts • Offshore Banking Financial Services and Insurance • Islamic Finance

Economy • Economic Growth and Gross Domestic Product (GDP) • Trade Surplus • The Budget • Inflation and Cost of Living • Population and the Labour Force

Commerce Useful Numbers

Investment and Trade • • • • • •

Incentives • Investment Regulations • Choosing a Business Structure Company Structures • Commercial Registration Export and Import • Taxation • Intellectual Property Regulatory Bodies and Government‑owned Entities Qatar Financial Centre • Qatar Exchange • Real Estate Developers and Real Estate Agents Selling Property • Business Etiquette

Feature – The Mark of Qatar Quality Qatar has introduced its own Quality Mark to boost competivity between manufacturers while also ensuring products meet international standards.

Introduction To Qatar Free Zones Strategically located adjacent to Qatar’s awardwinning air and sea ports, Qatar Free Zones is a dynamic addition to the ecosystem that will efficiently serve tomorrow’s economy. With red tape slashed, fast decision making, ultra-modern facilities including 5G access and high internet speeds,QFZ will serve industry, downstream services and emerging technologies.

©

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Indian Cultural Centre

The Mall IAID

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Al Ahli Sports Club

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Cambridge Girls MES

Elder Tree Nursery

Na

43

Doha Academy

LuLu

Regency Kahramaa Halls

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Newton Int’l

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D Ring Rd

Hamad International Airport

48

Air

41 42

40

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h Al Doha Premier Inn Al Safa Mahmoud i Mus Capital Al Jadeda ad Chevrolet Qatar Al Liwan Police W Clinic Gulf Pearls Aeronautical ital Concorde College Westin Doha Crowne B Ring Rd Jarir Bookstore Al Muntazah Hotel & Spa Plaza The Doha Heliport ab Chevrolet Centre Holiday Umm Al Meera Radisson Inn Jarir Blu Ghuwailina aalishan Sterling Al Meera Rd Oryx Al Mansoura American wa Rotana Ford C R Hospital AAB Mashreq Rawdat ssan t CCQ ing Bank Al Mana Holiday Al Matar Al Qadeem Rd Al Khail bS Girls d Garden Villa Al Jabor ali R Chrysler T g i Vision C Rin Ab CAA Bin Gulf Times Financial Marhaba Ali Safeer Arrayah Al Arabi Square Gulf Club Rd Family g Warehousing Food Centre Al Meera Alfardan Rin Al Emadi Darwish D Hospital Le Mirage Gardens Travel

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Katara The Pearl-Qatar Lagoona Mall Al Bidda Park Souq Waqif Qatar National Museum Grand Mosque QNCC Al Shaqab Mathaf Museum

Al Mourjan

Qatar National Theatre

Kuwait

B4

Cuba

Al Qassar

5/6 I/CO Arches ma

Al Jazi Gardens

Al

St

Floresta Gardens

Beach

Perlita Gardens

St

65

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Medina Centrale

23

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The PearlQatar

Porsche

20

22

Beach

61

SEK Doha College WB Campus era

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Doha Exhibition Centre

66

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Al Khafji St Institut Francais du Qatar

HQ

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21 High St

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Katara

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Lusail St

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12

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Diplomatic Club

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Hilton The Pearl

Legtaifiya

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Lagoona Mall

Grand Mondrian Hyatt

Legtaifiya Lagoon

B3

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Vendome Mall

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Lusail Marina

Afghanistan

Al Jasra Al Bidda Mohd Bin Jasim Mushaireb Barahat Al Jufairi Old Al Ghanim Al Souq Wadi Al Sail Arumaila, Armeilla Al Bidda Abdul Aziz Al Doha Al Jadeeda Old Al Ghanim Sharg Zone/ Al Hitmi/Al Rufaa Sharg Zone/Slata Doha Port Wadi Al Sail Al Rumeila, Armeilla Bin Mahmoud Bin Mahmoud Rawdat Al Khail Al Mansoura/ Bin Derhem Najma Umm Ghuwailina

28 Sharg Zone/ Al Khulaifat 29 Ras Bu Abboud 30 Duhail 31 Umm Lekhba 32 Madinat Khalifa (N) 33 Al Markhiya 34 Madinat Khalifa (S) 35 Kulaib 36 Al Messila 37 New Al Hitmi/ Bin Omran Hamad Medical City 38 Al Sadd 39 Al Nasr/Al Sadd Al Mirqab Al Jadeed 40 New Slata 41 Nuaija 42 Al Hilal 43 Al Maamoura, Nuaija 44 Nuaija 45 Old Airport 46 Mesaimeer/ Al Thumama 47 Al Thumama 48 Doha Int'l Airport 49 Hamad Int'l Airport/ Banana Island

51 Al Gharrafa/ Bani Hajer 52 Al Luqta/Lebday Old Al Rayyan/ Al Shaqab 53 New Al Rayyan Muaither, Al Wajba 54 Al Soudan, Mehairja, Muraikh, Luaib, Baaya 55 Al Soudan, Al Waab 56 Bu Hamour, Mesaimeer, Ain Khaled 57 Industrial Area 60 Al Dafna 61 Al Dafna, Al Gassar 62 Lekhwair 63 Onaiza 64 Lejbailat 65 Onaiza 66 Legtaifiya, Onaiza 67 Hazm Al Markhiya 68 Jelaiah, Al Tarfa 69 Al Egla 70 Wadi Al Banat, Al Ebb Rawdat Al Hamama

E

F

Arabian Dhows

All Rights Reserved. 10.2020 No part of this map may be reproduced or copied without the written permission of the publishers marhaba.qa

Time Rako

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Banking and Finance Bank

Telephone Website

Regional Banks Ahlibank

4420 5222

ahlibank.com.qa

Al Khalij Commercial Bank

4494 0000

alkhaliji.com

Commercial Bank of Qatar

4449 0000

cbq.qa

4445 6000

dohabank.qa

Qatar Development Bank

4430 0000

qdb.qa

Qatar National Bank

4440 7777

qnb.com

Arab Bank Qatar

4438 7777

arabbank.com.qa

Bank Saderat Iran

4441 4646

bsi.com.qa

BNP Paribas

4453 7115

mea.bnpparibas.com

HSBC

4442 4722

hsbc.com.qa

Mashreq Bank

4408 3333

mashreqbank.com/qatar

Standard Chartered Bank

4465 8555

sc.com/qa

United Bank Limited

4444 1314

ubldirect.com

Branches of Foreign Banks

Islamic Banks Dukhan Bank*

800 8555

barwabank.com

Masraf Al Rayan

4425 3333

Qatar First Bank

4448 3333 qfb.com.qa

Qatar International Islamic Bank

4484 0000

qiib.com.qa

Qatar Islamic Bank 4402 0888

qib.com.qa

alrayan.com

Investment Banks QInvest

4405 6666 qinvest.com

*Previously Barwa Bank; merged with International Bank of Qatar in April 2019

marhaba.qa

Currency and Exchange Alfardan Exchange 4453 7777 alfardanexchange.com.qa Al Jazeera Exchange 4436 3822 aljazeeraexchangeqatar.com Al Mana Exchange 4442 4226 almanaexchange.com Al Sadd Exchange 4432 3334 Al Amir Street

Banking and Finance

Doha Bank

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Arabian Exchange 4443 8300 arabianex.com Gulf Exchange 4438 3222 gulfexchange.com.qa/en Travelex Qatar 4443 4252 travelex.qa Unimoni Exchange 4436 5252 unimoni.com/qat Western Union Send money online and via the app, or find a branch at westernunion.com/qa/en

The Banking Network There are over 250 bank branches and 850 ATMs across the country, with most in Doha but also further afield. They are located in nearly all of the malls, hotels, souqs and petrol stations. Visitors can usually access funds in their home accounts by using their ATM cards here, and some allow the withdrawal of USD and Euro – check with the relevant bank(s) for commission or exchange rate fees. Major credit cards are widely accepted. Exchange houses provide remittance services and foreign exchange and are licensed by Qatar Central Bank. There are no exchange control regulations, but movement of money in and out of local accounts is monitored. Account holders may need to provide a declaration of origin for large cash deposits.

The GCCNET system, established by the GCC countries, acts as a single ATM network linking all the GCC point of sale switches – in Qatar this is NAPS (National ATM & POS Switch).

Opening hours: Generally Sunday – Thursday 7:30 am – 1 pm, however many banks have extended branch operations. Check the respective bank's website for up to date timings and locations of branches and ATMs. All day/extended hours: Ahlibank, City Center-Doha: Saturday – Thursday 10 am – 3 pm, Friday 4 pm – 10 pm CBQ, mall branches: Saturday – Thursday 9 am – 2:30 pm/3:30 pm – 9 pm, Friday 3:30 pm – 9 pm Qatar Islamic Bank, Medina Centrale, The Pearl‑Qatar: Sunday – Thursday 11 am – 6 pm Friday: Al Khalij Commercial Bank (al khaliji), City Center-Doha: 4 pm – 9 pm QNB, City Center-Doha, Lagoona Mall and Medina Centrale, The Pearl-Qatar: 3:30 pm – 9 pm Saturday: HSBC, City Center-Doha: 8:30 am – noon QNB, City Center-Doha and Lagoona Mall: 9 am – 2:30 pm/3:30 pm – 9 pm ©

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marhaba.qa Currency

Banking and Finance

The unit of currency is the Qatari Riyal (QAR), divided into 100 Dirhams (Dh), issued by Qatar Central Bank (QCB). It is pegged to the US dollar at a fixed exchange rate of USD1 = QAR3.64.

Notes in circulation are QAR1, QAR5, QAR10, QAR50, QAR100 and QAR500; coins are Dh5, Dh10, Dh25 and Dh50.

Banknotes incorporate security threads, as well as special features for recognition by the blind and visually impaired.

Four GCC countries support the creation of a Gulf Monetary Union (GMU) – Qatar, Saudi Arabia, Kuwait and Bahrain; the UAE and Oman have withdrawn entry. The GCC Supreme Council in 2008 approved the Monetary Union Agreement and the Statute of the Monetary Council. The headquarters of the Gulf Monetary Council opened in Riyadh in October 2013. Monetary union between the GCC countries was proposed in December 2013; subsequently Qatar, Kuwait, Bahrain and Saudi Arabia agreed to establish a unified central bank with a currency pegged to the US dollar. However, there has been no further action since 2013, and this looks unlikely given the blockade which started in June 2017.

The Banking Sector Overseen by Qatar Central Bank (QCB), the sector comprises a number of regional, foreign and Islamic banks. State-owned Qatar Development Bank provides financing to small and medium enterprises, while QInvest focuses on investment banking, asset management and investing its own capital.

Barwa Bank and International Bank of Qatar (IBQ) signed a final agreement in August 2018 to merge the two banks, the first in Qatar's banking history, to create a Sharia-compliant financial institution with more than USD22 bn in assets. The legal merger was completed in April 2019, trading as Barwa Bank, and with IBQ products converted to Sharia-compliant equivalents. Barwa changed its name to Dukhan Bank in October 2020.

June 2020 saw negotiations open for another potential merger between Masraf Al Rayan and Al Khalij Commercial Bank (al khaliji). Masraf Al Rayan is Qatar's fourth largest bank and was previously involved as a third bank in the merger between Barwa Bank and IBQ. This new merged entity would operate as an Islamic bank with assets making it the third largest in Qatar after Qatar National Bank and Qatar Islamic Bank.

A new loan-to-deposit requirement of 100% came into effect in 2018. The adoption of International Financial Reporting Standard (IFRS) 9 by QCB has strengthened the provision coverage at Qatar’s commercial banks – under the IFRS standard, banks and financial entities have to set aside a certain proportion of profit against losses for unseen reasons. QCB capital adequacy data shows the non-performing loans ratio was 2.2% in 2019.

QCB set up the Supreme Emergency Committee in 2018 to monitor the day-to-day activities of QATAR BANKING AND COMMERCE E-GUIDE ©

financial institutions in the country, addressing emergency matters and easing the flow of work.

The Economist Intelligence Unit (EIU) stated in October 2020 that 'in the short term, policy will continue to focus on addressing the economic fallout from the coronavirus pandemic and weak international oil prices. Qatar's large stock of public debt weighs on the outlook, but a sound financial system is supportive.' The EUI added that the banking sector has a 'robust' regulatory framework and 'solid' capital and liquidity indicators, supported by foreign reserves and Qatar Investment Authority's assets, the country's sovereign wealth fund.

Qatar Central Bank Under Law No 13 of 2012 Qatar Central Bank and the Regulation of Financial Services, QCB is deemed an autonomous corporate body, with a capital of QAR50 bn (USD14.28 bn) and under the direct control of The Amir. It is headed by a governor appointed by The Amir, and primary goals include financial stability, supporting developmental activities and strengthening the national economy. The law is not just for banks, but includes insurance companies, exchange houses, Qatar Exchange and QFC‑registered entities. Decree No 27 of 2018 renewed the term of the Governor of QCB, HE Sheikh Abdulla bin Saoud Al Thani, for five years from June 2018.

Under Law No 13 of 2012, the Financial Stability and Risk Monitoring Committee shall study existing and future risks related to all banking, financial, insurance and stock market activities. The panel works closely with the Ministry of Finance to frame general policies.

The law provides strict penalties for anyone accepting deposits from the public without a valid

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marhaba.qa licence from the banking regulator – violators can face a jail term of up to five years and/or a fine of up to QAR5 mn. For those refusing to accept the legal tender of Qatar, there is a jail term of three years and/or a fine of up to QAR5 mn. Issuing forged currency means 10 years in jail and/or a fine of QAR10 mn. Manipulating accounts incurs a prison term of up to three years and/or a fine of up to QAR200,000.

Strategic Plan 2017–2022 for the future of financial sector regulation in Qatar, an extension of the First Strategic Plan 2013–2016. The new plan comprises five main goals:

Regulations in 2013 curbed local banks’ investment options. Equities and bonds can account for up to 25% of a bank’s capital and reserves (previously 30%); debt issued by the government and national banks are exempt. The regulations also limit the amount banks can place with individual companies and unlisted securities: a maximum of 5% of capital and reserves for foreign investments and 10% domestically. The cap for total foreign equities is set at 15%.

• Maintaining integrity of and confidence in the financial system.

Law No 20 of 2019 on combating money laundering and terrorism financing was issued in September 2019, replacing Law No 4 of 2010, with implementing regulations following in December. The new law is in accordance with the latest international standards adopted by major international organisations including Financial Action Task Force, and highlights Qatar's regional role in setting standards in its legal and regulatory framework for combating money laundering and terrorism financing.

Fintech regulations Noting the increasing growth and popularity of fintech, QCB established the Fintech Regulatory Sandbox and launched Qatar FinTech Hub (QFTH) as a means of boosting financial innovation, one of the objectives of its strategic plan (see below).

The regulatory sandbox, co-founded by Qatar Development Bank, invites entities to safely livetrial their services in the digital payment services space. fintech.qa The Second Strategic Plan for Financial Sector Regulation 2017–2022 QCB, the QFC Regulatory Authority (QFCRA) and the Qatar Financial Markets Authority (QFMA) jointly launched in December 2017 the Second

• Developing financial markets and fostering financial innovation.

• Promoting financial inclusion and financial literacy.

• Developing human capital.

The plan aims to create a regulatory framework allowing growth, is 'inclusive and sustainable', promotes innovation and financial technology (fintech), and successfully tackles cyber-security threats. qcb.gov.qa

Qatar Credit Bureau Bad loans have been reduced since the Bureau started operations in 2011. The centre is not involved in the granting of credit facilities to individuals nor imposing any restrictions on banks. Access to customers' creditworthiness is available only to institutions operating under QCB. Qatar Credit Bureau provides analytical data and supports banks’ use of advanced techniques in risk management, as well as support sustainable growth of credit in Qatar. It provides banks with information on customers' total exposure in the market and the loans they hold, enabling banks to choose prospective customers. cb.gov.qa

Banking and Finance

The Qatar Renminbi Centre (QRC), which opened in 2015, is the first clearing centre in the region to offer Renminbi (RMB) clearing and settlement, increasing financial connectivity between China, Southwest Asia and the MENA region. The centre provides access to China’s onshore RMB and foreign exchange markets to local financial institutions – Chinese companies have become active partners in the Qatar market, and the RMB centre will facilitate trade via their agreement with QCB. qatarrmbcentre.com

• Enhancing financial sector regulation and promoting regulatory cooperation.

Loans, Bank Charges and Interest Rates Loans: Under QCB rules, a doubtful loan is one in which no monthly instalments have been paid for 180 days; a bad loan is one that has not been serviced for a year. Banks in Qatar have to closely monitor loan disbursement and forward reports on customer creditworthiness to QCB. There is also a duty to track and follow defaulting customers and seek resolution – if this fails, they will take legal action. Non‑payment of loans could lead to a travel ban for Qatar and possibly the GCC. QCB has imposed ceilings on the amounts a bank can lend as a personal loan both to citizens and expatriates. Banks cannot lend more than QAR400,000 as a personal loan to an expatriate, with a maximum repayment period of 48 months, against a maximum 50% of total monthly salary, and at a maximum 6.5% interest rate. Qatari citizens can have a maximum loan of QAR2 mn over a maximum 72 months. Banks cannot use post‑dated cheques for the loan value. ©

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Banking and Finance

Mortgages: Generally available – check with each bank for their individual requirements. Documents usually required: Valuation Report from an approved real estate agent; salary assignment letter if the home loan is the first facility with the bank; ID for Qataris or passport and valid residence card for expatriates; copy of the Title Deed and map; and building insurance cover.

Discuss provision for life assurance against any loan amount taken and consider updating your will.

Bank charges: Banks must prominently display all interest rates on personal loans and credit cards, as well as publish them in local newspapers.

Credit cards: A maximum 12% annual interest rate can be charged. Cards can usually only be issued when customers transfer their salary or have an adequate deposit at the bank.

Interest rates: Announced by QCB on overnight deposit and loan transactions between QCB and local banks through the Qatar Money Market Rate Standing Facility (QMR), a monetary instrument through which local banks can request access to loan and deposit facilities with QCB at daily interest rates.

As there is fixed parity between the Qatari riyal and the US dollar, QCB short term interest rates policies are subordinated to the fixed exchange rate policy, making QCB overnight interest rates closely related to its USD counterpart, the Fed Funds Rate. In March 2020 QCB decreased the overnight lending rate from 3.5% to 2.5%, and the deposit rate and the repo rate to 1%.

QCB and Bloomberg jointly launched the first Qatar interbank offer rate (QIBOR) fixing in 2012. This is the interest rate charged by banks in Qatar for interbank transactions.

Accounts Standard bank facilities: Debit/credit cards, standing orders, money transfers, personal loans, vehicle loans, and mortgages on current and savings accounts (including joint accounts). Some accounts offer longer terms, higher interest and the option to save in USD, GBP and Euros.

24/7 telephone and Internet banking services offer additional options. Most banks have an app, allowing for bill payments and account enquiries, while some services such as ordering a cheque book can be accessed via the bank's ATM network.

With mobile banking services a customer relations officer can visit you at home or work to assist with banking requirements. Most banks also offer premium banking services.

International bank account number (IBAN): Adopted in January 2014 as a standard for QATAR BANKING AND COMMERCE E-GUIDE ©

identifying and numbering all bank accounts in Qatar, and effective from May 2014.

The system applies to all accounts in banks operating in the country, found on bank statements or online in account details. The existing account number is not replaced; additional characters appear in front of the account number to form a 29‑character IBAN. All incoming and outgoing transfers to and from banks and financial institutions must use IBAN. Opening an Account: Documents usually required: • A valid residence card or work visa. A worker’s dependants (eg spouse and family) can open an account but may require his permission as he is their sponsor (check with the individual bank).

• Valid passport.

• For current accounts, a letter from the employer/ sponsor confirming the monthly salary in Qatari Riyals, with the company’s official stamp. You may have to transfer your salary to the new account but check with the individual bank.

• Some banks may ask to see your tenancy agreement to establish your residential address.

• Take copies of these documents, along with identity photographs. Ask for photocopies of any documents signed.

The Wage Protection Scheme (WPS) is an electronic salary transfer system that ensures workers are paid as per their employment agreement, initiated by the Ministry of Administrative Development, Labour and Social Affairs and QCB. Employees therefore need a local bank account in order to receive their wages from the employer.

Cheques: A chequebook can be issued with a current account. They are not widely accepted for instant payment – these are made with cash or cards. Post‑dated cheques are commonly used for house rental payments. The onus of responsibility is on the banks not to encash cheques before the designated date. Issuing a cheque without the necessary funds in your account is a serious criminal offence and the bank or creditor may notify the police, leading to possible prosecution.

Punishment for causing a cheque to bounce due to insufficient funds can be severe: jail terms of between three months and three years, and/ or fines of between QAR3,000 and QAR10,000.

Cases being filed are on the rise in the country, mostly for cheques for large amounts, and the Capital Security Department is now recording all cases electronically to speed up the process.

Credit cards: Widely available with all the usual associated privileges, with the credit limit determined by the cardholder's salary or savings balance. Family members may also be eligible for

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marhaba.qa a card. Check at the time of applying for issuance and renewal fees, conversion charges, and payment options.

Customers should contact their bank when travelling overseas and wishing to use their credit or debit cards. Since May 2014 all banks’ credit and debit card transactions made using the magnetic stripe inside and outside of Qatar will be declined. However, as certain countries (eg the US, India and the Philippines) still use the magstripe for transactions, customers should activate their card before travelling.

Offshore Banking Offshore banking can be a secure anchor for an expat's finances while out of their home country.

Offshore banking is in a jurisdiction other than the one in which you live as a way to enjoy tax breaks and invest in foreign currencies. Check with local banks for availability of international bank accounts in US dollars, pounds sterling, or Euros

Islamic Finance There are now six Islamic institutions: Barwa Bank and International Bank of Qatar (trading as Barwa Bank), International Islamic, Masraf Al Rayan and Qatar Islamic Bank. Qatar First Bank – regulated by the QFC Regulatory Authority – is the first independent, Sharia compliant investment bank.

Financial services are provided by entities registered with the Qatar Financial Centre (QFC).

Insurance products are widely available from local and international companies (see Living in Qatar in the Discovering Qatar section).

Law No 13 of 2012 requires that Islamic banks must have a Sharia board with at least three qualified members approved by the shareholders.

Neither they nor members of their family may be employed or hold shares in the entity.

Under Law No 13 of 2012 QCB and the Regulation of Financial Services, only local insurance providers are permitted to underwrite any kind of risk against properties in Qatar. Decision No 1 of 2016 issued by the Governor of QCB provides instructions related to licencing, regulation and controls, risk management, accounting, and other requirements. Listed companies must have capital in excess of QAR100 mn or a risk-based capital, while unlisted companies must have capital higher than that set by QCB or their risk-based capital.

Institutions and services must abide by regulations set out in the Holy Quran and Sharia (Islamic Law). Charging riba (interest) is haram (forbidden).

Islamic banks charge fees for services and engage in profit sharing, enabling them to offer comparable facilities to those of conventional banks. Under a mudharabah (profit sharing) contract, the rabbul maal (owner of the money) authorises the bank to invest funds as per Sharia to make justifiable returns. Other concepts of Islamic banking include wadiah (safekeeping), musharakah (joint venture), and ijarah (leasing).

Bai (saving) is halal (allowed). m

QCB continues to regulate and develop the

The Governer of Qatar Central Bank, HE Sheikh Abdullah bin Saoud Al Thani, stated in September that 'digitalisation, financial innovation and their rapid developments that we are witnessing nowadays may reshape the banking scene in the world and this requires keeping pace with these developments with more regulatory frameworks and continuous development of legislation, which is what Qatar Central Bank is keen on as part of its strategic plan.' He added that preparations are underway to launch the Financial Technology Strategy, and closer coordination is required between institutions in the sector to support research and expand knowledge. ©

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Financial Services and Insurance

In February 2011, QCB asked banks to separate their Islamic and conventional lending operations by 31 December 2011. Islamic banking by other conventional banks are now barred from Qatar's market. QCB took this action due to certain supervisory and monetary issues, namely that holding both Islamic and non‑Islamic deposits incurs different risks and reporting methods.

Banking and Finance

Complaints: Unresolved consumer complaints can be made online to QCB's Consumer Protection Department. qcb.gov.qa

insurance market as per international standards, in line with the Second Strategic Plan for Financial Sector Regulation 2017–2022. Decision No 7 of 2019 sets out further instructions for licensing, organising and supervising the services of supporting insurance providers. It sets out the competencies and expertise for each supporting insurance provider, the nature of the work, areas of responsibility and functions, and the establishment of professional and ethical codes of conduct.

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Economy Economic growth and gross domestic product (GDP) One of the main aims of Qatar National Vision 2030 is to diversify the economy and reduce dependence on the hydrocarbon industries.

The economy has weathered the impact of the blockade imposed 5 June 2017. Hydrocarbon exports have not been affected.

In the Planning and Statistics Authority's Qatar Economic Outlook for 2020–2022, real GDP grew by 1.5% in 2018, and was –0.2% in 2019.

The impact of the pandemic in the first half of 2020 'has been more severe on the oil and gas exporting countries as it coincides with the drop in global oil prices', however this may diminish in the second half of 2020.

The PSA expects growth to decline by 2.6%, with the worst case scenario being the IMF's projection of –4.3%. However, 'Qatar has issued a package of economic measures and policies to contain the virus and its negative repercussions on public health and the economy'.

Export, Import and Trade surplus In August 2020, the total exports of goods was QAR14 bn, a decrease of 33.8% y-o-y, and an increase of 3.3% month on month (m-o-m). Imports amounted to QAR7.1 bn, a decrease of 21.6% y-o-y and a decrease of 3.0% m‑o‑m. Qatar's trade surplus was QAR6.9 bn, a 42.9% decrease y-o-y, and an increase of 10.7% m-o-m.

The budget The State Budget for 2020, announced in December 2019, has again been based on an oil price of USD55 a barrel, and is forecast to achieve a QAR500 mn surplus. Revenue is again estimated at QAR211 bn, and spending at QAR210.5 bn, up 1.9%. Expenditure is the highest in the past five fiscal years, as the country is committed to completing numerous development projects across multiple sectors, including those related to National Development Strategy 2018–2022.

Major projects have been earmarked QAR90 bn (43%), the largest proportion and up 0.6% on 2019, in key sectors such as health, education and transport, and the hosting of the 2022 FIFA World Cup QatarTM. Projects worth QAR11.5 bn are expected to be awarded, of which QAR8.5 bn is expected to go to the Public Works Authority (Ashghal). Salaries and Wages have increased to QAR59 bn, up 3.3%, to take account of recently completed projects, such as the opening of the Doha Metro.

The infrastructure sector has been allocated the biggest expenditure for highway and internal roads development, expansion of the existing roads system, water and electricity networks, sewerage networks, and other public utilities. The main infrastructure projects under construction include the launch of the previously-shelved Sharq Crossing Project, linking Ras Abu Aboud and West Bay, and which is expected to be completed within four years.

The allocation for the healthcare sector is QAR22.6 bn, 11% of total expenditure in 2020, for major projects to improve healthcare services including expansion of Hamad Medical Corporation facilities and the establishment of new healthcare centres. The education sector is allocated QAR22.1 bn, (10.5%), for expansion of schools and other educational facilities.

The budget again provides for the five-year, QAR12.0 bn land development scheme for Qataris, to include water and electricity networks, sewerage, roads and other infrastructure.

For more information about major projects, see the Infrastructure section.

Inflation and cost of living The PSA issues the monthly Consumer Price Index (CPI), used to calculate inflation rates in Qatar.

The CPI in August 2020 was 96.2, an increase of 0.48% m-o-m and a decrease of 4.1% y-o-y.

This reflected a reduction in demand for clothing, utilities and transport. The IMF predicts projected consumer prices to change by –1.2% in 2020.

Population and the labour force Total population in September 2020 was 2,723,624: males 1,969,032; females 754,592.

In the Labour Force report for Q1 2020, the economically active increased by 2.0% to 88.4%, compared to Q4 2019, while the unemployment rate was 0.1%. m

Checked & Updated October 2020

The y-o-y decrease in total exports was mainly due to lower exports of petroleum gases/ other gaseous hydrocarbons. China was the top destination for exports (18.2%), followed by Japan and India, while the US was the leading importer (22.5%), followed by China and India.

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Economy

According to Moody's, 'Qatar's exceptionally high per-capita income and proved hydrocarbon reserves' are credit strengths that underpin resilience to large economic and fiscal shocks.

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Sources of information: International Monetary Fund (IMF); Planning and Statistics Authority (PSA); Qatar Central Bank (QCB); Ministry of Finance ©

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Commerce

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Qatar is a member of the World Trade Organisation and its trade policies create a competitive international trading market. The government supports the growth and success of businesses in a bid to diversify the economy. Qatar is a member of the Gulf Cooperation Council (GCC), which also includes Bahrain, Kuwait, Oman, Saudi Arabia and the United Arab Emirates. The blockade by Saudi Arabia, the UAE, Bahrain and Egypt has led to a number of restraints and made travel between these countries difficult. However, Qatar has strengthened relations with a number of other countries and increased trade routes to mitigate exports and imports.

Organisation

Telephone

Online Map

4020 6038

amchamqatar.org

C4

Communications Regulatory Authority

103/4406 9938

cra.gov.qa

C4

Department for International Trade (UK)

+44 (0)20 7215 5000

gov.uk

General Authority of Customs

4445 7457

customs.gov.qa

C4

German Business Council Qatar

4431 1152

gbcqatar.com

C4

Hukoomi (Qatar e-Government)

109/4406 9999

gov.qa

C4

Mada Assistive Technology Center

4459 4050

mada.org.qa

C4

Ministry of Commerce and Industry

16001

moci.gov.qa

A4

155

edu.gov.qa

C4

16020/4446 1444

mof.gov.qa

C4

Ministry of Education and Higher Education Ministry of Finance Ministry of Justice

137/4021 5555 moj.gov.qa

C4

Ministry of Municipality and Environment

184/4434 8888

mme.gov.qa

C4

4407 0000

moph.gov.qa

C3

16016/4045 1111

motc.gov.qa

C4

4495 8888

psa.gov.qa

C4

Ministry of Public Health Ministry of Transport and Communications Planning and Statistics Authority Public Works Authority (Ashghal) Qatar Australia & New Zealand Bus Assoc

Commerce

American Chamber of Commerce in Qatar

188/4495 1111 ashghal.gov.qa C4 officemanager@qanzba.org qanzba.org

4496 2080

C4

Qatari Businessmen Association

4435 3120

qataribusinessmen.org C4

Qatari Business Women Association

4420 9109

See their Facebook page

Qatar Chamber

4455 9111

qatarchamber.com

D4

Qatar Development Bank

4430 0000

qdb.qa

D4

Qatar Exchange

4433 3666

qe.com.qa

C4

Qatar Financial Centre (QFC)

4496 7777

qfc.qa

C4

Qatar Intl Court & Dispute Resolution Centre

4496 8225

qicdrc.com.qa

C4

Qatar Investment Authority

4499 5919

qia.qa

A4

Qatar National Tourism Council

4406 9921

visitqatar.qa

A4

qbbf.com

Qatar Professional Women's Network

qpwn.org

Qatar Science & Technology Park

4454 7070

qstp.org.qa

C2

QFC Regulatory Authority

4495 6888

qfcra.com

C4

Checked & Updated October 2020

Qatar British Business Forum

Embassies can provide valuable information on commercial activities and can connect you with their business council/chamber of commerce – see the Discovering Qatar section for contact details.

Translation services can be found in Living in Qatar, also in Discovering Qatar. ©

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Investment and Trade Qatar has one of the fastest growing global economies thanks to the third largest concentration of natural gas reserves in the world. This along with recent legal liberalisation, economic diversification and an expanding economy provides many investment opportunities for non‑Qataris. Profits can be repatriated as can proceeds of sale and capital on liquidation. Major investment sectors are construction, oil and gas, education, and financial and legal services, with opportunities in ICT, sport, leisure and healthcare.

Incentives The government welcomes foreign participation in joint ventures, with incentives for investment:

Investment and Trade

• A developed infrastructure and ICT network.

• Easy access to world markets with good sea and air connections, continuously being upgraded.

• Natural gas, electricity, water and petroleum at subsidised rates.

• Land for industrial development in the Industrial Area near Doha for a nominal rent of QAR1 per square metre per year.

• Loans available from Qatar Development Bank.

• Fixed parity between the Qatari riyal and US dollar (USD1 = QAR3.64).

• No customs duty on the import of plant machinery; exemption from export duty.

• Five-year renewable tax holidays (based on government approval).

• No income tax on the salaries of expatriates.

• Tax on the profits of foreign-owned stakes in Qatari companies is applied at a flat rate of 10%.

• Employment and immigration rules enable the import of skilled and unskilled labour.

Investment Regulations There are primarily two regulatory jurisdictions for foreign investors seeking to conduct commercial business in Qatar: the regulations of the State of Qatar, and the rules and regulations of the Qatar Financial Centre (discussed in more detail below). Qatar also recently introduced new free zones designed to encourage certain bespoke investment vehicles to bring their businesses to the region.

Non-Qatari investors may only invest in Qatar in accordance with Foreign Investment Law No 1 of 2019: • In January 2019 the Amir promulgated the new foreign investment law of 2019. According to the new law, foreign investors are permitted to hold more than 49% in commercial companies with special permission from the Minister of Commerce and Industry (MOCI) (subject to some prohibitions set out below). Under the former law such increased ownership was limited to those businesses operating in a specific set of sectors.

QATAR BANKING AND COMMERCE E-GUIDE ©

• Non-Qatari investors are prohibited from being appointed as commercial agents under Commercial Agencies Law No 8 of 2002, but the former prohibition preventing foreigners from investing in real estate businesses has been removed under the new Foreign Investment Law. Approval from the Council of Ministers is required for foreign investment in banking and insurance.

• Foreign capital is protected against expropriation (although the State may acquire assets for public benefit on a non-discriminatory basis, provided the full economic value is paid for the asset).

• Subject to Ministerial approval, a foreign company performing a specific contract in Qatar may set up a branch office if the project facilitates the performance of a public service or utility.

• A non-Qatari company operating in Qatar under a Qatari government concession to extract, exploit or manage the State's national resources is exempt from the Foreign Investment Law. In practice this covers all large oil and gas companies.

• A company formed by a non-Qatari entity with the government or a government entity ('Article 207 Company') may be subject to special rules and exemptions from the Commercial Companies Law No 11 of 2015.

• All international companies securing mega infrastructure development work must share at least 30% of the contract with local entities.

• Law No 7 of 1987 governs the practice of commercial activity by GCC citizens in Qatar, and was amended in April 2017 under Law No 6 of 2017. GCC citizens as individuals or legal personalities can practice retail and wholesale trade in Qatar. However, the GCC citizen engaging in the activity must be directly responsible for it.

Those undertaking retail business must do so via direct sale to customers in a shop, and those in wholesale trading are required to import and export the goods. NB: the blockade against Qatar means that some aspects of this commercial activity is subject to change, and legal advice is recommended.

• Law No 12 of 2020 regulating the partnership between the public and the private sector became law in July 2020, as per one of the following regulations: Allocation of land through a rental or usage licence, for development by the private sector; build-operate-transfer (BOT); build-transfer-

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marhaba.qa operate (BTO); build-own-operate-transfer (BOOT); operations and maintenance (OM); or any other form adopted by the Prime Minister, upon the proposal of the relevant minister. The Government or other administration may, on its own initiative or at the suggestion of the private sector, identify a project for its implementation through partnership.

Choosing A Business Structure

• Incorporating as a company under the Commercial Companies Law which allows full access to Qatar's market and to work on an unlimited number of projects. A Qatari partner is required to own 51% of the capital of the company, except in the circumstances mentioned above. Various exemptions are available to attract foreign capital.

• Obtaining a licence for a branch office or trade representation office which does not require a Qatari partner. The licence for a branch is granted in respect of a specific project for a government client. The existence of the branch office is dependent on the duration of a particular project: once the project is completed, the branch office must close unless it has secured additional qualifying projects. Branch offices are only permitted to perform a specific contract and may not engage in general commercial activities with the larger local market. The branch will be fully taxable unless granted a special exemption.

Trade representation offices are only permitted to market goods and services; they are not permitted to engage in commercial activities.

• Under Law No 7 of 2017 companies in GCC states can now establish companies in Qatar, subject to having had a commercial registration in one of the GCC states for at least three years, and be fully owned and managed by a GCC citizen.

Refer to our preceding caveat in Investment Regulations regarding the blockade.

• Appointing a commercial agent means a nonQatari company does not establish a presence in Qatar; instead a 100% owned Qatari entity or Qatari national is appointed as an agent to market the relevant goods and services. Commercial agencies must be exclusive and registered in order to be afforded the protections provided under the Commercial Agents Law No 8 of 2002; non-registered distributorships are subject to the Commercial Law No 27 of 2006.

• There is a separate regime for establishing an entity in the Qatar Financial Centre (QFC).

° Um Alhoul, a 30 sq km site adjoining Hamad Port, south of Al Wakra – offers easy access to the water for maritime and logistics companies, and is a gateway for imports and exports. A port and marine cluster, 'Marsa', is able to support a wide range of marine businesses. ° Ras Bufontas, a 4 sq km site adjacent to Hamad International Airport – a technology and manufacturing hub for businesses requiring international connectivity.

• The Cabinet has added some areas to the Free Zones Law, including Msheireb Downtown Doha.

• Under Ministerial Decision No 242 of 2016, the MOCI will grant licences for small businesses at home conducting certain commercial activities including sewing, events services, electronic services, business services, cosmetic activities and food activities. A single license is issued per activity, with an annual fee, and cannot involve direct sales to the public from the residence.

Decision No 163 of 2018 cancelled the requirement for signage at the house entrance.

Investment and Trade

To conduct business in Qatar on a regular basis, foreign investors are required to establish or register a legal presence from the following options:

This allows 100% foreign ownership and aims to attract international financial services companies and some professional support companies to invest in Qatar. The number of permitted activities in which a QFC firm may engage has been increased to include a broader spectrum of investment options.

• The Qatar Science and Technology Park, a free zone in Education City, allows companies to engage in research and development, again with full foreign ownership.

• At least one new free zone has started accepting applications and international investors. Free zones include:

Company Structures According to the Commercial Companies Law No 11 of 2015, the following structures are permitted: • Limited liability companies (LLCs) – subject to the Foreign Investment Law can now be established by a single person owning the entire share capital (previously the minimum number of shareholders was two). This replaces the single person company under the old companies law.

Shareholders can determine the share capital of an LLC (previously the minimum share capital was QAR200,000 divided into equal shares).

• Article 207 company – a shareholding company where the Qatari government, a government owned entity or a public corporation must own 51% of the shares, unless the Council of Ministers consents otherwise. Certain provisions of the Commercial Companies Law are excluded from the company’s Articles of Association. ©

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marhaba.qa • General partnership – joint partners administer the affairs of the company, and trustee partners contribute to the company's capital.

• Simple limited partnership – a local entity formed by two or more Qataris.

Investment and Trade

• Limited partnership with shares – formed by joint partners, liable for the debts, or trustee partners, whose liability is limited to the share value.

• Unincorporated joint venture – formed by two or more people pursuant to specific contractual arrangements. The unincorporated joint venture does not have a separate legal personality distinct from its partners'.

• Joint stock company (public or private) – the capital is divided into shares with a minimum of five shareholders. Permissible foreign share ownership depends on the type of company and is subject to Qatar Financial Markets Authority approval.

• Holding company – incorporated as a joint stock or limited liability company. The holding company must hold at least 51% of the shares in each of the companies under its control.

Commercial Registration (CR) Virtually all companies use a government liaison officer or facilitator to assist with establishment formalities. Under Qatar Commercial Registration Law No 25 of 2005, companies must be approved or registered by one or more of the following entities: Ministry of Commerce and Industry (MOCI); Qatar Chamber; Ministry of Municipality and Environment; Ministry of Interior; Importers' Register/Contractors' Register; and QFC Authority (where appropriate). Visit moci.gov.qa for details.

Amendments were made under Law No 20 of 2014 in order to expedite registration procedures, followed by Decisions 30 and 31 of 2019: • The MOCI must respond to the applicant's request for registration on the same day.

• Reasons must be given for rejected applications.

The Minister must accept or reject an appeal of the Ministry's decision within 15 days.

• Incorporated branches must be in the exact name of the principal company, and are not considered separate legal entities.

• Amendments have also been made to penalties for those operating commercial premises without a CR, misusing the CR, and providing false/ wrong documents.

• Renewal is now possible online, valid for up to five years, with the relevant fees, at gov.qa QATAR BANKING AND COMMERCE E-GUIDE ©

Export and Import Exports According to the Planning and Statistics Authority (PSA), Qatar’s total exports (including exports of domestic goods and re-exports) in Q2 2020 amounted to QAR37.8 bn, for such things as mineral fuels, lubricants, chemicals, and machinery and transport equipment, mainly to Asia. There are no duties on exports.

Imports According to PSA, imports in Q2 2020 totalled QAR22.3 bn, comprising machinery and transport equipment, food, and chemicals, mainly from Asia and the European Union.

Import tariffs Importers of goods into Qatar must sign up to the Importers' Register and be approved by Qatar Chamber (QC). Customs duty and legalisation fees are levied on all commercial shipments, irrespective of its value.

All goods imported into Qatar are subject to customs duties, based on a percentage value of goods (usually 5%), or on a 'per unit' basis.

The value of goods is calculated according to the Customs and Ports Law. Customs duty tariffs fall under these categories: • Personal effects and household items, imports of charitable organisations and returned goods, diplomatic and military exemptions, merchandise for ‘free zones’ and duty-free shops – exempt.

Goods in transit may be accepted at designated stations without duty.

• General cargo, eg clothing, perfumes, cars, electronic appliances and devices – 5%.

• Steel – 20%.

• Urea and ammonia – 30%.

• Cigarettes, tobacco and its derivatives – 100% or QR1,000 per 10,000 cigarettes, whichever is higher.

Law No 25 of 2018 on Excise Tax came into effect 1 January 2019. All businesses that import, produce or store/stockpile excise goods must comply with the requirements stipulated under the law. The following goods are subject to Excise Tax: • Tobacco products – 100%.

• Carbonated drinks (non-flavoured aerated water excluded) – 50%.

• Energy drinks – 100%.

• Special goods – 100%.

In accordance with the Gulf Cooperation Council (GCC) Customs Union, more than 600 goods are exempted from customs duties, alongside exemptions granted to certain bodies and persons under Customs Law No 40 of 2004. There are fees for the attestation of the Certificate of Origin (from QC) and a tariff for the attestation of the Commercial Invoice, based on shipment value.

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marhaba.qa Qatar implemented the World ATA Carnet Council in August 2018, joining 77 other countries that use the system, an international customs document permitting the duty-free and tax-free temporary import and export of goods for up to one year. The system is being implemented by QC alongside ICC Qatar and the General Authority of Customs (GAC).

New regulations were introduced in 2013 to prevent fake products from entering the market.

All general goods must have non‑removable marking of their place of manufacture to be eligible for customs clearance. This applies to both air and sea freight. The import of vehicle tyres, spare parts and electrical home appliances has to be based on a 'certificate of conformity' issued by the authority concerned. All general cargo for customs clearance must be backed by an original commercial invoice on the shipper’s letterhead, with stamp and signature. They also require attestation by QC. The packing list of each consignment must have the number of pieces, weight and volume.

GAC requires all importers to obtain an HS Code, an international system for classifying traded products. This must be linked to the trader's Commercial Registration and import licence.

There are few restrictions on bringing personal effects into Qatar. However, anyone (importers, exporters or travellers) holding local or foreign currency, precious metals or jewellery worth more than QAR50,000 must complete a customs declaration form upon entry into or departure from the country.

Banned imports include alcohol, pork and e‑cigarettes. The import of pets is allowed, although certain breeds are not permitted. NB: the blockade against Qatar means that goods from boycotting countries are prohibited (as at date of going to print).

Points of entry Imports and exports are transitted via Hamad International Airport, Hamad Port, Doha Port, Mesaieed Port, Ras Laffan and the Salwa Overland Terminal.

Taxation There are no personal taxes or statutory deductions from salaries in Qatar. Under Law No

Tax exemption applies for certain activities, and companies listed on the Qatar Exchange are also exempt, but companies are required to pay a 2.5% contribution to charitable and cultural activities.

Taxpayers need to register with the Public Revenue and Taxes Department. Auditors must be a firm based in Qatar and registered with the MOCI or approved by the QFC. In January 2016 GCC member states agreed to introduce VAT, tentatively set for early 2018. The Council of Ministers approved the Qatar Value Added Tax (VAT) Law and Excise Tax Law and Executive Regulations in May 2017, based on the unified GCC agreement. To date, only the Excise Tax has been implemented.

Intellectual Property

Investment and Trade

Import regulations All commercial shipments are subject to examination by GAC prior to clearance.

The Qatar Clearance Single Window (Al Nadeeb) is a one-stop e‑government system facilitating international trade, with interchange between GAC and other stakeholders. 136, ecustoms.gov.qa

24 of 2018 on income tax ('the New Tax Law') and its executive regulations, companies must pay tax on all profits at a flat rate of 10%. This is on all corporate income from sources in Qatar, whether the entity has a physical presence in Qatar or not.

The share of the profits due to a Qatari or GCC partner is exempt from tax.

Under Law No 9 of 2002, a trademark registration is valid for 10 years from the date of filing the application, renewable for further consecutive periods of 10 years. The court may be ordered to cancel a trademark registration if the owner fails to use it in Qatar within five consecutive years from the date of the registration.

Copyright Law No 7 of 2002 gives protection to authors of original literary and artistic works.

Protected works include books, lectures, musical works, photographic works and computer software.

The economic rights of the author/owner are protected during the lifetime of the author, and for 50 years after his death.

Patent Law No 30 of 2006 provides for the registration of inventions and foreign patents at the Qatar Patent Office, and implementing regulations were issued by the Minister of Commerce and Industry under Decision No 153 of 2018.

Qatar announced its accession to the Patent Cooperation Treaty in 2011. The Law of Trademarks in the GCC Countries was promulgated under Law No 7 of 2014. The same year Qatar signed a cooperation agreement with the World Intellectual Property Organisation (WIPO) to jointly improve services. There is an electronic trademark registration service via the MOCI website to expedite submissions and preserve IP rights.

Law No 10 of 2020 on the protection of industrial designs was issued in April 2020. This will offer more comprehensive protection for designs once ©

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marhaba.qa the implementing regulations are issued, as previously protection was sought by publishing cautionary notices in Qatari newspapers.

Investment and Trade

Regulatory Bodies and Government‑owned Entities Ministry of Commerce and Industry (MOCI) A4 Creates commercial policy for both private and public sectors in order to boost regional and international trade relations and support the development of businesses across the country.

This should be the first stop for information when opening a company and investing in Qatar. The MOCI_QATAR app aims to speed up the delivery of services, and promote trade and investment in Qatar. Invest In Qatar is a useful tool for local and foreign investors and investment opportunities. moci.gov.qa, invest.gov.qa Ministry of Finance (MOF) C4 Prepares the State budget and proposes objectives and tools of financial policy in line with Qatar National Vision 2030. The General Authority of Customs monitors the import of all goods, and the e-services of the Government Procurement Portal include tenders and company registration. mof.gov.qa, customs.gov.qa, monaqasat.mof.gov.qa Qatar Chamber (QC) D4 Provides a wide range of services and support to local and international businesses, including certificates of origin (COO) for import/export and ATA Carnet, acting as liaison for international business delegations, and providing training courses. QC services are also available to QFC‑licensed firms. The Qatar International Center for Conciliation & Arbitration (QICCA) was established in 2006 as part of QC to act as an efficient and swift mechanism to settle disputes between Qatari enterprises, or between national companies and foreign counterparts. qatarchamber.com, qicca.org Qatar Development Bank (QDB) D4 The bank plays an active role in the economic and industrial development of Qatar in the private sector by promoting and financing SMEs. The bank is 100% owned by the State of Qatar and provides a wide range of financial and advisory products, such as funding, incubation, and support services. qdb.qa Qatar Financial Markets Authority (QFMA) C4 An independent regulatory authority supervising the financial markets and firms authorised to conduct activities related to securities in or from Qatar, and empowered to exercise regulatory oversight and enforcement over the capital markets. QFMA was granted full membership of the International Organisation of Securities Commissions in 2013. New legislation in 2014 QATAR BANKING AND COMMERCE E-GUIDE ©

modernised the legal infrastructure, while listing rules and a governance code for funds were issued in 2019. qfma.org.qa Qatar Investment Authority (QIA) A4 The country's sovereign wealth fund is a major investor in Qatar, owning 50% of Qatar National Bank, 55% of Ooredoo, and 100% of Katara Hospitality, and is a key shareholder in three local Islamic banks. Subsidiaries include: Qatar Holding, a global investment house established in 2006 and licensed by the Qatar Financial Centre Authority; Qatari Diar Real Estate Investment Company, which oversees the Lusail City development among other projects; and Qatar Sports Investments, which owns football club Paris Saint‑Germain.

QIA has approximately USD320 bn in assets, although the fund does not publish its holdings.

Following a restructure in May 2016, USD100 bn of investments in local companies were placed in a new unit, abandoning the Qatar Holding name.

The new internal division, Qatar Investments, is known as QIA internationally.

QIA has reduced its direct holdings in Credit Suisse Group AG, Rosneft PJSC and Tiffany & Co, while making new investments in retail properties in Fifth Avenue and Times Square in New York City with Crown Acquisitions, and in Los Angeles with Douglas Emmett. The fund aims to invest USD45 bn in the US and GBP5 bn in the UK, and a deal has been signed with AccorHotels to create an investment fund of more than USD1 bn for hospitality projects in sub-Saharan Africa. Following five years of redevelopment, 52 Champs-Elysées in Paris was relaunched in March 2019, home of the famous Galeries Lafayette. qia.qa Qatar Investments Portfolio (unconfirmed): 52 Champs-Elysées, Adecoagro, Agricultural Bank of China, Asia Square Tower 1 (Singapore), Banyan Tree, Barclays PLC, Barwa Bank, Brookfield Property Partners, Canary Wharf Group, Claridge's/The Berkeley/The Connaught hotels, Credit Suisse Group AG, Deutsche Bank AG, El Corte Ingles SA, Empire State Realty Trust, Fahrenheit, Glencore PLC, Grupo Santander Brasil, Harrods, Hassad Food, Heathrow Airport Holdings, Hochtief, Iberdrola SA, J Sainsbury PLC, Kahramaa, Lagardère, Le Brantano!, Le Tanneur, Lifestyle International Holdings Ltd, London Shard Tower, London Stock Exchange, LVMH, Masraf Al Rayan, Mowasalat, National Grid PLC, One Ocean Port Vell, Ooredoo, Oryx Midstream Services (Oryx), Pavilion, Pulkovo Airport (St Petersburg), Qatar Exchange, Qatar Islamic Bank, Qatar International Islamic Bank, Qatar National Bank, Rosneft PJSC, Royal Dutch Shell, Siemens, Societe Fonciere Lyonnaise SA, The Bürgenstock Selection, Tiffany & Co, Total

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marhaba.qa solutions in Qatar by attracting foreign direct investment in all of the country’s priority sectors.

Qatari Diar Real Estate Investment Company A4 Projects include: Lusail City (Qatar); Chelsea Barracks and East Village (UK); and City Center DC (US). The Qatar Railways Development Company (Qatar Rail) was formed to oversee the Qatar Rail Development Programme: the Doha Metro, the Long Distance Rail, and the Lusail Tram. qataridiar.com

The QFC announced in February 2019 its new strategy for achieving its targets for 2022, which includes the registration of 1,000 firms and a focus on specific service industries and new emerging markets with a combined value of over USD2.1 tn. The QFC has an attractive incentives prog​ramme to tempt multinational companies to Qatar by offering free offices, highly-competitive tax incentives, and seed capital to cover five years of operating expenses in return for a 10-year commitment. qfc.com.qa

Qatar Science and Technology Park (QSTP) C2 Since 2009 QSTP has been a facility for applied research and commercialised technology in Energy, Environment, Health Sciences, and ICT. This free zone at Education City allows foreign companies to set up 100%‑owned businesses in Qatar free of tax and duties. Members must have technology development (eg applied research, development and testing of a product or service, or technology training) as their main activity. qstp.org.qa

Qatar Financial Centre (QFC) The QFC C4 was established in 2005 to attract international financial institutions and firms to establish business operations in a 'best‑in‑class' international environment. There are two independent bodies: the QFC Authority (QFCA) and the QFC Regulatory Authority (QFCRA). To operate in or from the QFC, a firm needs to be incorporated or registered by the QFC Companies Registration Office, licensed by the QFCA, and for regulated activities, authorised by the QFCRA. Advantages of establishment in the QFC include: • Firms in the QFC are subject to a separate legal, regulatory, tax and business environment.

• Allows 100% foreign ownership and 100% repatriation of profits.

• Only 10% corporate tax on locally sourced profits.

There are currently more than 900 local and international companies in the QFC, comprising investment and private banking, (re)insurance and asset management firms (each of which is regulated); and consultancy service providers, law firms and financial services recruitment firms (which are non‑regulated).

An enhanced registration process was introduced in 2017 with just four steps, allowing complete registration applications to be reviewed and processed within five business days. Firms are given a dedicated relationship manager and offered support in setting up. The Investment Promotion Agency of Qatar, registered on the QFC platform since 2019, is a single source of investment

The QFCA is the commercial arm of the QFC, responsible for leading the expansion of Qatar’s financial services sector and for developing relationships with the regional and global financial community. The QFCA's strategy focuses on the creation of a global business hub for three core markets – Asset Management, Reinsurance and Captive Insurance.

The QFCRA is the independent regulatory body of the QFC, overseeing all firms conducting financial services in or from the QFC, as a combined banking, insurance and markets regulator. In 2012, the QCB Governor took over the chairmanship of QFCRA, as part of a plan to establish a single financial regime, comprising QFCRA, QFMA, QE, QCB, and the Supreme Judicial Council. qfcra.com

Investment and Trade

SA, Turkuvaz, Valentino Fashion Group SpA, Vente‑Privée, Vivendi, Volkswagen AG, Xstrata PLC.

The Qatar International Court and Dispute Resolution Centre (QICDRC) consists of the QFC Civil and Commercial Court (First Instance and Appellate Divisions) and the QFC Regulatory Tribunal. The Court has consensual jurisdiction to hear disputes between parties from anywhere around the world and mandatory jurisdiction to hear disputes between entities registered in the QFC. There is a purpose built Alternative Dispute Resolution (ADR) centre. qicdrc.com.qa

Qatar Exchange (QE) QE C4 was created in 2009 between Qatar Holding (88%) and NYSE Euronext (12%) as the successor to Doha Securities Market; Qatar Holding purchased NYSE Euronext's stake in 2013. In 2012, regulatory authority passed to Qatar Central Bank from Qatar Financial Markets Authority, and in 2014 Qatar was added to the Morgan Stanley Capital International Emerging Market Index. It was upgraded in 2016 from Frontier to Secondary Emerging Market by FTSE Russell.

QE began trading in treasury bills in 2011, and in 2012 the QE Venture Market for SMEs was launched, after the QFMA adopted new listing and ©

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marhaba.qa initial public offerings (IPO) rules in the secondary market. As at October 2020 there are 47 listed companies and 9 brokerage firms.

Investment and Trade

All traders must use a stockbroker and register at the Qatar Central Securities Depository.

Foreigners are not permitted access to the primary market, so cannot take part in IPOs, and restrictions may apply to the number of floated shares foreigners can trade in. qe.com.qa Qatar Central Securities Depository (QCSD) Established by QCB and licensed by QFMA to provide safekeeping, clearing and settlement of securities and other financial instruments listed on the Qatar Exchange. qcsd.com.qa

Real Estate Under Law No 16 of 2018 on the regulation of non-Qatari ownership and utilisation of real estate, implemented in March 2019, non-Qataris may own and use properties in Qatar 'in many areas according to conditions, regulations and procedures, which shall be determined by a decision of the Cabinet based on the proposal of the Committee for the Regulation of Ownership and Use of Non-Qatari Property'.

The real estate non-Qatari individuals and companies are allowed to invest in includes offices, shops, units and villas in residential complexes, and real estate development of land in specified areas, and is not limited to apartments and residential units.

Owners of property worth more than QAR730,000 will be offered residency, as well as their family, for the duration of ownership, with residency given as soon as they finalise the purchase. Owners of property worth more than QAR3.65 mn will receive the same benefits as permanent residents regarding healthcare, education, and investment in some commercial activities. The Ministry of Justice is the one-stop-shop for all transactions regarding non-Qatari ownership of real estate.

Freehold developments The number of areas non‑Qataris can own and use freehold property has been increased from three to nine designated areas: QATAR BANKING AND COMMERCE E-GUIDE ©

Al Qassar (administrative area 60) Al Dafna (administrative area 61) Onaiza (administrative area 63) • West Bay (66) The Pearl-Qatar (66) • Lusail (69) • Al Khraij (69) Jabal Theyleeb (69) • Al Khor Resort (74)

Foreign companies can also own properties in these nine areas. The law offers an atttractive new investment model to Qatar, offering 100% guaranteed return on investment in these areas.

Leasehold developments Non‑Qataris can use real estate property for 99 years in 16 designated areas: • Msheireb (area 13) • Fereej Abdelaziz (14) • Doha Al Jadeed (15) • New Al Ghanim (16) • Al Refaa and Old Al Hitmi (17) • Aslata (18) • Fereej Bin Mahmoud (22 and 23) • Rawdat Al Khail (24) • Mansoura and Fereej Bin Dirham (25) • Najma (26) • Umm Ghuwailina (27) • Al Khulaifat (28) • Al Sadd (38) • Al Mirqab Al Jadeed and Fereej Al Nasr (39) • Doha International Airport area (48) All of these areas can be found on the map of Greater Doha in the Discovering Qatar section. m Developers and Real Estate Agents Selling Property and Land (for letting agents see Living in Qatar in the Discovering Qatar section ) Cushman & Wakefield Direct Real Estate Just Real Estate New Methods United Development Company

4483 7388 4442 1472 4491 3300 4410 8000 4409 5155

And finally, some tips on business etiquette Doing business in Qatar relies on personal relationships as well as the quality of the company or service. Networking and exchanging business cards is important. Men should wear suits or smart/business casual, and women should cover upper arms and knees. Handshaking is common but when meeting Arab people of the opposite sex it is best to wait for them to initiate a handshake.

Some other cultural nuances include: • Do not rely too much on email • Oral commitments at face‑to‑face meetings may be considered binding, while written agreements may not • Appointments should be reconfirmed on the day

Checked & Updated October 2020

Cabinet Resolution No 28 of 2020, passed in October, confirmed the areas in which non-Qataris may own and benefit from real estate, and the terms, conditions, benefits and procedures for their ownership and use of them. This encompasses the right to free ownership of residential units inside residential complexes and shops inside malls.

• • • • •

• While English is widely spoken, the language of government is Arabic • Sit and talk with your host on general matters before approaching business

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Cushman & Wakefield are proud to be the longest established International Real Estate advisor in Qatar where we have been offering our international and local clients sound real estate advice for over 15 years in all things Real Estate

VALUATION LEASING INVESTMENT FEASIBILITY PROPERTY MANAGEMENT

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+974 4483 7388

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FEATURE

The Mark of Qatar Quality

By Sarah Palmer As a means of boosting the competitiveness of national products, Qatar recently launched its own Quality Mark.

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he Prime Minister and Minister of Interior, HE Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani launched the Qatar Quality Mark earlier this year. This has been done in order to enhance the competitiveness of national goods both locally as well as around the world.

HE Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani attended a ceremony to launch the quality mark with HE Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry, and Engineer Mohammed bin Saud Al Musallam, Chairman of the Qatar General Organisation for Standardisation and Metrology (QGOSM).

Authorities in Qatar have decided to introduce the Quality Mark as part of the country's framework to improve the quality of local products, assert the quality of local products in regional and global markets, support development plans, and offer further consumer protection.

A presentation was given on the Qatar Quality Mark showing its benefits for both consumers and producers. Also shown was the mechanism for conforming the commodity to all approved standard specifications, as well as the benefit of increasing competitive opportunities among local companies.

At the moment, the Qatar Quality Mark is an optional certification placed on a product, proving its compliance with approved national standards, and that it has been examined and tested by an internationally recognised certified laboratory.

The Qatar Quality Mark is granted by Qatar General Organisation for Standards and Metrology (QGOSM), and can be used to advertise the licensed product across any media channel during the period of validity of the license. The mark indicates that QATAR BANKING AND COMMERCE E-GUIDE ©

the product has been approved under the quality control mechanisms in place and is affixed to the commodity either by way of a sticker or by engraving it directly on to the product. The mark must be affixed such that it is difficult to remove, and can be attached to the commodity's packaging in the event that the commodity does not allow the mark to be placed directly to it.

In order to obtain the mark, the facility manufacturing the product must fulfil a number of conditions and standards stipulated in the Qatar Quality Mark regulations, which have been adopted under international requirements. The license to use the Qatar quality mark is valid for a renewable period of two years.

The Qatar Quality Mark offers a number of advantages to consumers, as it provides a visible, practical method of identifying those goods that meet pre-determined quality controls, which pose no health or safety risks, and which protects the consumer from potential fraud and deception.

A quality mark is used to confirm that a country has standards and regulations in place which must be met by companies and their products. The attainment of the quality mark will boost consumer confidence in the manufacturer, thereby increasing brand recognition and improving its reputation in the market. This is turn will increase demand for its goods, and provide competitiveness in local markets, as well as increasing the company’s opprtunities to access foreign markets.

Speaking at the ceremony, HE the Minister of Commerce and Industry Ali bin Ahmed Al Kuwari stated that launching the Qatar Quality Mark was an important step towards promoting the concept

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and technical regulations with regard to goods, products and services.

• The establishment of a national system of measurement and supervising its implementation to ensure the high quality and safety of products, commodities and materials by adopting new trends and developments.

• Participating in relevant international and regional organisations.

• Granting licences to use the Qatar Quality Mark and other conformity certificates.

• Testing products, commodities and raw materials.

• Providing calibration, control and supervision of measuring instruments and practices.

• Controlling the quality of precious metals and jewellery by assaying and hallmarking.

of quality and conforming to approved specifications in the country. Getting the Qatar Quality Mark is the ultimate proof of efficiency and quality for national companies, and supports the ability to continue upgrading their products in accordance with the specifications and standards in place in the country.

• Operating the Qatari National IEC Committee, the WTO/TBT/SPS National Enquiry Point and Notification Authority for the State of Qatar. m

HE the minister lauded the efforts of QGOSM in supporting and developing national institutions and establishments, and for encouraging them to begin applying the national standards and best international practices for products.

The Chairman of QGOSM Engineer Muhammad bin Saud Muhammad Al Musallam stated that the Qatar Quality Mark will enhance the competitiveness of products in the local, regional and global markets.

It is understood that the first phase will see Qatar focus on awarding the quality mark to national manufacturers in Qatari factories. The second phase will be dedicated to other countries who wish to apply for the quality mark. A technical profile must be submitted to QGOSM, and needs to include details such as product specifications, workforce, production processes, and any other quality certification that has been awarded.

About Qatar General Organisation for Standards and Metrology The Qatar General Organisation for Standards and Metrology was established under Emiri Decree No 44 of 2014 and is currently affiliated to the Ministry of Municipality and Environment. Core functions include: • Issuing, approving, reviewing, amending and monitoring the implementation of standards

HE Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry, said the launch of the Qatar Quality Mark represents an important step in supporting national industries and enhancing the production and export capacity of private companies.

During the ceremony, HE the Prime Minister and Minister of Interior granted the Qatar Quality Mark to Al Qataria for Production of Reinforcing Steel (QSTEEL), the first facility that has successfully fulfilled the criteria for obtaining the mark, from among the many organisations that have applied for it. He expressed his confidence in the ability of all national companies to produce quality products by applying Qatari standards.

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FEATURE

SMEs Defined

Photo credit: GWC Logistics

By Sarah Palmer A recent decision by the Ministry of Commerce and Industry has provided a unified definition of small and medium enterprises in the State of Qatar.

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atar has a number of policies and initiatives in place that support and encourage the growth of entrepreneurship and in particular small and medium-sized enterprises (SMEs). This action has been taken to encourage sustainable development and economic diversification, as the country looks to move away from its reliance on hydrocarbons as a source of revenue. Despite regional and global political and financial uncertainties, this sector is showing great progress.

The sector is expected to see further growth in the next couple of years, with the 2022 FIFA World Cup QatarTM approaching – in fact, investment is expected to reach USD5 bn. This gives emerging companies and entrepreneurs the chance to participate in this global event.

The Ministry of Commerce and Industry (MOCI) recently issued a set of unified definitions for SMEs in the country, opening up the sector to investment funds and venture capital. This move could greatly benefit the SME sector and further enhance economic growth. It is in line with the economic development pillar of Qatar National Vision 2030.

Ministerial Decision No 250 of 2018 on the unified definition of SMEs aligns with the State's keen interest in developing the private sector, particularly small enterprises. The decision was drawn up in conjunction with Qatar Development Bank (QDB) after consultation with a number of stakeholders.

The decision classifies enterprises according to headcount and annual revenues; SMEs are companies established under Qatari law, with not more than 250 employees and annual revenues not exceeding QAR100 mn.

QATAR BANKING AND COMMERCE E-GUIDE ©

Under the decision, SMEs have been classified into three categories: • Micro-sized entities with not more than 10 employees and annual turnover under QAR1 mn.

• Small-sized companies with a headcount of 11–50 employees and a turnover of more than QAR1 mn but less than QAR20 mn.

• Medium-sized enterprises with a headcount of 51–250 employees and a turnover of more than QAR20 mn but less than QAR100 mn.

The unified definition of SMEs is limited to autonomous private and profit-seeking enterprises.

Excluded are ministries, public bodies and institutions, diplomatic bodies, public welfare institutions and establishments owned by public bodies, and corporations and companies in which the state is a shareholder.

As per the decision, a private, profit-seeking entity shall not be considered a mixed enterprise. It shall maintain an independent status within the scope of the definition set out in the preceding article of the decision, even if the percentage of equities or voting powers of investors such as public investment companies, venture capital companies, business enterprise financiers, universities and non-profit research centres, and institutional investors (including regional development funds) is up to 50%.

The decision also stipulates that MOCI shall coordinate and cooperate with all relevant authorities to introduce any amendments to this definition, by reviewing the outcome of applying this definition, and evaluating its suitability to the needs of SMEs in the country and its compatibility with the State's strategic plans, eg Qatar National Vision 2030.

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Speaking to press at the launch of the new definition guidelines, Saud Abdullah Al Attiyah, director of Economic Policies and Research Department at MOCI, stated that adopting the same definition for SMEs in Qatar will lead to create a clear framework for development of the sector, which will support the establishment of evidence-based decisions.

There is already a common definition for SMEs in the banking sector, but for the first time this will be one definition for the whole country, aligned with global best practices and Qatar's vision to create a diversified economy.F m

A full list of investment regulations and company structures can be found in Investment and Trade in this section.

More information is also available from the Ministry of Commerce and Industry at moci.gov.qa, for investment opportunities visit invest.gov.qa

How local entities are supporting the SME market The Qatar Stock Exchange’s Venture Market is excluded from the definition of SMEs when applying the rules of listing to companies. However, the Venture Market may decide to use it as a guiding definition.

The QE Venture Market is dedicated to SMEs who have a minimal track record and a higher risk profile but who are growing and need access to capital. The development of the Venture Market is specifically designed to fit within the state's overall desire to support SMEs as part of Qatar National Vision 2030.

Eventually those companies on the Venture Market should be able to grow and graduate to the Main Market.

Companies on the QE Venture Market trade on the same infrastructure and benefit from the same regulatory safeguards as those on the Main Market.

However, it is easily identifiable as a separate and dedicated marketplace. For more details visit qe.com.qa Meanwhile, Qatar Development Bank (QDB), who was involved in the development of Ministerial Decision No 250 of 2018, plays an important role in empowering entrepreneurs, with a package of initiatives and programmes. Small companies in the country are launched through different channels, and are now contributing to the economy of the country, some of which have reached the stage of foreign exportation.

Their SME Excellence List recognises and celebrates the top performing SMEs in Qatar via defined eligibility and evaluation criteria.​​​​In 2018, QDB gave QAR8 bn in financial support to Qatari companies, including SMEs. For more information on the services available to SMEs, visit qdb.qa ©

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FEATURE

The Court System in Qatar

By Sarah Palmer Qatar's court system has introduced new guidelines for judges and law students, as well as adopted further online services in line with the country's digital revolution.

About the Supreme Judiciary Council

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he Supreme Judiciary Council (SJC) launched a new Code of Judicial Conduct in February, along with a new visual identity, on the sidelines of the second high-level meeting of the Global Judicial Integrity Network, which was held in Doha with the participation of many heads of international judicial councils.

The code has been issued to enhance the independence, impartiality, and competence of judges and their associates, the effectiveness of their procedures, and to establish the rule of law in a manner that enhances the confidence of litigants in the judiciary and its role in establishing completed justice with impartiality.

According to HE the President of the Supreme Judiciary Council and President of the Court of Cassation Dr Hassan Lahdan Saqr Al Mohannadi, 'the SJC is working to develop the judicial sector in the country in line with the rational vision of the Amir, HH Sheikh Tamim bin Hamad Al Thani in achieving prompt justice.'

The code has been designed with the latest global developments and domestic legislation in mind as well as the Amir's vision. It will set guiding principles and act as a reference for judges, as well as used by law students to enhance judicial integrity and can be referred to by members of the public.

The new code derives its basic reference principles from the provisions of Sharia (Islamic) law, the Permanent Constitution of the State of Qatar, the moral values of society, the law, values and traditions of the judiciary, and associated relevant international treaties and agreements.

This is supplemented with the new visual identity of the SJC, which reflects the basic principles upon which Qatar built its judicial system and the respect of the judiciary in achieving justice.

QATAR BANKING AND COMMERCE E-GUIDE ©

The Judicial Authority has been established and given its powers under the Permanent Constitution of the State of Qatar, and acts independently of all other authorities. It has jurisdiction over legal matters, to achieve justice and guarantee the rights and liberties of society.

The rule of law constitutes the basis of government in Qatar. Article 60 of the Permanent Constitution guarantees the judiciary procedural and structural independence that is unique and highly developed in accordance with the standards of modern state institutions. Article 135 of the Constitution asserts the right for all people to resort to the judiciary system and the courts.

The judiciary has general jurisdiction over criminal, civil, commercial, family, inheritance, administrative and other disputes, except sovereign acts and nationality matters. As per Article 130 of the Constitution, judicial authority is independent and vested in courts of different types and degrees.

Judgments are issued in the name of HH the Amir.

The appointment of judges in Qatar is based on clear criteria that adhere to the principles of integrity and justice. A judge's ethics and behaviour must be applied in both their working and personal life.

Judges are independent and they are only subject to law when exercising their judicial functions. There can be no interference whatsoever permitted with court proceedings and the course of justice, as per Article 131 of the Constitution. The Supreme Judiciary Council supervises the functioning of the courts of law and the achievement of independence of the judiciary (Article 137).

The Judicial Authority Law No 10 of 2003 and its various amendments have brought about a number of developments in Qatar's judicial sector. Taking effect in October 2004, the 2003 law unified the country's legal system.

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Court of Appeal: Responsible for deciding appeals filed against the judgments issued by the lower courts, and comprises three members.

Court of Cassation: This was introduced to Qatar for the first time under Judiciary Authority Law No 10 of 2003 and is the highest court in the country's judicial system. The court has five members and decides upon the appeals filed against the judgment issued from the Court of Appeal. The Court of Cassation only rules on matters of law and does not re-examine the merits of a case before it. The Court of Cassation may either issue a ruling or remand the case back to a lower court. Rulings delivered by the Court of Cassation are final and cannot be challenged.

The Supreme Judiciary Council Online Services

The Council Structure The SJC oversees three courts in Qatar: Court of First Instance: Consists of the Criminal Court, the Civil Court, the Family Court, and the Execution Court. These are individual courts.

Administrative matters are decided by the Administrative Circuit (not a separate court) of the Court of First Instance.

The court has a president and a number of chairs and judges. It has circuits to consider different cases: Hudod (limits); Qisas (retaliation in kind); Diya (compensation); criminal, civil and commercial matters; personal status matters; inheritance; administrative disputes; and more. The Execution Court enforces judgments retendered by the other courts and circuits.

There are a number of e-services available to businesses in several of the courts, and this will be implemented across the whole legal system by the end of 2020. Currently, e-service users can perform many legal procedures without having to visit the court in question. This ease of facilitating services, such as establishing a business, is designed to attract more foreign investment.

It is also part of Qatar Government Strategy 2020 under the Ministry of Transport and Communications (MoTC), which states that all individuals and businesses will benefit from Qatar's more open and connected government. SJC signed an agreement with MoTC in 2017 and targets more efficient litigation procedures and reduced waiting times.

At the moment, only judgments of the Court of Cassation are published and publicly available.

To learn more, visit sjc.gov.qa/en, call 109 m

SJC issues a resolution to form these circuits, and judgments are issued by three members. The Civil Court consists of the Plenary Courts (three judges) which preside over cases in which the claim is more than QAR500,000, and the Partial Courts (single judge) which deal with cases in which the claim amount is below this threshold. Administrative matters are decided by the Administrative Circuit with three judges presiding.

However, under Article 12 of the Judicial Authority Law the SJC can form one or more circuits with just one judge to issue a decision – a District Court. Civil and commercial lawsuits and dispute cases are also heard here. Under Family Law No 23 of 2006 and SJC Resolution No 23 of 2006, the Family Courts at the Court of First Instance can decide upon family and inheritance disputes. The Criminal Court has jurisdiction over crimes and Hudod, Qisas and Diya, as well as cases from Public Prosecution, at the (usually) single-judge Misdemeanour Court. ©

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Welcome to Qatar Free Zones

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Business Innovation Park A brand-new development offering state-of-the-art office suites with tailored solutions

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iCARE

The investor care team dedicated to enabling your business

Investor List An ecosystem made of world-leading companies

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FREEZONE PAGE 1.pdf

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QFZ takes great pride in being among the world’s newest Free Zones.

What we’re building here is an ecosystem for tomorrow’s economy and your company’s success is central to our development. That’s why we will do everything we can to support your company’s growth.

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Our iCARE team are QFZ’s dedicated investor

Qatar Free Zones Authority would like to

support service, and they will be your main

thank you for partnering with us, and we

point of contact to help get your operations

wish you all the best in this exciting new

set-up and expand as your business develops.

chapter for your business.

9 This guide will introduce you to Qatar Free Zones’ amenities and help you familiarize yourself with our ecosystem; it contains all the information you need to settle in smoothly and set up your business.

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Qatar Free Zones

Our Free Zones There are two free zones in Qatar offering brand new infrastructure and turnkey site solutions to fit every business requirement. Key benefits include 5G access and internet speeds of up to 1GB/ps.

Ras Bufontas Free Zone

Umm Alhoul Free Zone

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Our zones are strategically located next to Qatar’s award-winning air and sea ports that put the world’s markets and supply chains on your doorstep.

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Qatar Free Zones

iCARE iCARE is the sole focal point for our investors that has been designed with one thing in mind - to get businesses operational as quickly as possible.

Essentially, we deal with everything a business needs after they’ve been licensed, from visas to utilities, to getting them up and running.

Once your business is licensed, iCARE takes over the relationship between QFZA and investors and becomes their single point of contact for anything they may need.

This handover stage is called “The Handshake”. From here, it is our job at iCARE to take care of everything your business needs to commence operations: From the issuance of visas, driving licenses, Qatari IDs, to getting your business bank accounts set-up.

Our long-term duty of care towards our investors is divided into two areas. The first is focused on everything needed from QFZA; whether relocation, expansion or permitting services. The second area deals with everything that takes place beyond our Zones; from visa renewals to changes in commercial activities. Essentially, anything to do with diversifying our investors’ business to help them grow.

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While most free zones have an investor support team in place, what sets iCARE apart is the breadth and depth of the services we provide, and the quality of service we uphold.

Tying these elements together is the seamless integration of each stage of the investor onboarding journey - the process is exceptionally smooth, and investors are guided by our team through every step.

Another differentiator is the fact that everything happens here at QFZA. iCARE is the only point of contact investors need with government authorities - we act as the runners between investors and every government ministry and agency who has a role in getting the appropriate licenses and permits issued. This allows our investors to focus on what they’re good at; growing their business.

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Qatar Free Zones

Ras Bufontas

The Airport Free Zone Ras Bufontas Free Zone covers 4 square kilometres, and sits directly adjacent to the award-winning Hamad International Airport (HIA), home to Qatar Airways, one of the world’s premier air cargo handlers. The first line of the Doha Metro, which opened in May 2019, provides direct access to the zone.

Property solutions

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• 24 Light Industrial Units (LIUs) • 2 square kilometres of serviced land plots • Office accommodation including the Business Innovation Park building There are specific sections of the zone dedicated to particular sectors and industries, allowing for optimal cluster growth supported by tailored infrastructure and facilities. Fully serviced plots come in different sizes to suit specific industry needs, and facilities are flexible; meaning that companies can either choose to build their own, hire QFZA to build it for them to exact specifications, or elect to use pre-built facilities.

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Key areas of focus Qatar is at the cutting edge of technological developments, and Qatar Free Zones have

Emerging Tech

been designed to allow investors to take full advantage of the exciting growth of technologies, such as 5G, the Internet of Things and the expansion of AI-based services.

Smart technologies are playing a growing role in our logistics offerings. Ras Bufontas Free Zone is

Aviation & Business

set up to incorporate autonomous warehouses and drones, as well as smart customs and insurance solutions and we are currently looking at several use cases for autonomous vehicle networks both within the zones and between the zones and ports.

Light Manufacturing

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Qatar Free Zones

Business Innovation Park

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The Business Innovation Park (BIP) is a brand-new development offering state-of-the-art office suites finished to the highest standard with tailored solutions to suit every business’ needs. The BIP, which consists of four wings, is situated directly on the waterfront in the heart of Ras Bufontas Free Zone with a range of restaurants and shops all within a short walk from BIP. Each of the four wings offer a range of office solutions, from fully fitted spaces with utilities and internet access that are ready to plug in and play, to office spaces geared towards longer-term tenants who want a custom fit-out. The Qatar Free Zones Authority and the iCARE team are there to deliver office configurations designed for each tenant’s requirements, whether a small startup or a corporate hub, and anything in between.

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Qatar Free Zones

Umm Alhoul The Port Free Zone

Umm Alhoul Free Zone covers 32 square kilometres and is situated near Hamad Port, the world’s largest greenfield port, providing an optimal location for industries which benefit from access to sea freight and shipping routes.

Key areas of focus • Heavy manufacturing • Logistics hub • Industrial sectors • Downstream petrochemical • Emerging technologies • Maritime industries & services

Property solutions • 1.8 square kilometres of serviced land plots • 14 Light Industrial Units (LIUs) • The zones have been designed to incorporate additional smart technologies including smart waste bins, intelligent street lighting, addressable advertising panels and more • There is wireless internet access throughout the zones, as well as intelligent traffic monitoring

MARSA MARSA (Arabic for “anchor”) is a new maritime cluster in Qatar’s Umm Alhoul Free Zone, strategically located adjacent to Hamad Port, the world’s largest greenfield seaport, and only 20 minutes from Doha city center.

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• Each plot developer is required to comply with a 1-star minimum GSAS rating

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The cluster is designed to be a fully integrated marine ecosystem, with a range of amenities to support marine activities, including: • Ocean vessel building and repair • Internal design and fit-out

The Synchrolift is designed to accommodate vessels of 70 meters in length with a weight of 2,200 tons.

The Travel Lift is designed to accommodate

• Ship provisions supply

vessels of 30 meters in length with a weight of

• Safety training

300 tons.

• Boat brokerage and maritime research

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Qatar Free Zones

Our Investors You are joining an ecosystem made up of leading companies across a range of sectors and industries that are all here to take advantage of the opportunities available from Qatar Free Zones. QFZA is here to support your business’ growth, and partnerships between our members are proving to be major catalysts for some of our members’ business development objectives.

See below our current members’ list to explore the possibilities for your business.

Ras Bufontas Free Zone Al -Eqlaa Industrial & Aviation Supplies Co. QFZ Branch Asia Star Consultancy QFZ LLC AY Tech QFZ LLC Beijing Capital (Hong Kong) QFZ Branch BMCYBER QFZ LLC Botnotch Technologies QFZ LLC

Extraco Medical QFZ LLC

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Gaussin Advance Mobility QFZ LLC

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Greenfields Sustainables QFZ LLC

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Gulf Agency Co Qatar QFZ Branch

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GWC Logistics QFZ Branch

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Hager Qatar QFZ LLC

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Hong Sheng Advertising and Consultancy

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CBM Qatar QFZ Branch

QFZ LLC

China Harbour QFZ LLC

Incture Technologies QFZ LLC

Clearwater International Group QFZ LLC

Intermodal Shipping QFZ LLC

DHL Qatar Limited QFZ Branch

Invent Solutions QFZ LLC

Dimension Data QFZ LLC

Inventus Power QFZ LLC

D4A Cloud ERP Solutions QFZ LLC

Jassim Shipping and Logistics QFZ LLC

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Qcloud Technology QFZ LLC

Kloudr (Offshore) QFZ Branch

Qlickhealth QFZ LLC

Luyi Industrial Development QFZ LLC

Racks24 QFZ Branch

Marilon QFZ LLC

Rotary Engineering QFZ Branch

Martrade Shipping and Logistics QFZ LLC

Sabena Technics BOD QFZ Branch

Matz Medical QFZ LLC

Tokyo Freight Services QFZ LLC

MBM Medical Industries QFZ LLC

Tradeshift QFZ LLC

MGH Logistics QFZ LLC

Triconix Industrial Solutions QFZ LLC

Microsoft 7282 Qatar QFZ LLC

Tyko International (Middle East) QFZ LLC

NR Business Consultancy QFZ LLC

Vitamed QFZ LLC

PFM Design and Engineering QFZ LLC

Wilhelmsen Ships Service QFZ LLC

Prime Source QFZ LLC

Yokogawa Qatar QFZ LLC

Profundo Technologies QFZ LLC

Zoomcar Qatar LLC

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Qatar Free Zones

Our Investors Umm Alhoul Free Zone AlMirqab Switchgears QFZ LLC

JSL Global QFZ LLC

AlMirqab Transformers Factory QFZ LLC

Leme Partners QFZ LLC

Al Wajbah Dates QFZ LLC

Marina Marine Services QFZ LLC

AR Brand Consulting QFZ LLC

Mavin Consulting QFZ LLC

ArcelorMittal Projects Qatar QFZ LLC

Permian Wax QFZ LLC

Brooq Petrochemical Company QFZ LLC

Petro White QFZ LLC

Cloudcan GCC QFZ LLC

Power Petroleum Industry Trading QFZ LLC

Disdoof Media QFZ LLC

PT Consulting QFZ LLC

Doha Craft Boat Manufacturing QFZ LLC

Quantum Switch Qatar QFZ Branch

Extraco Composites QFZ LLC

Rahrah Mobility QFZ LLC

FNV Consulting QFZ LLC

TL Design QFZ LLC

Golden Sail Metal Industry QFZ LLC

Tokyo Freight Services QFZ LLC

Google Cloud Qatar QFZ LLC

Total Brand Activation QFZ LLC

Greenfields Sustainables QFZ LLC

Wasco Coatings Middle East QFZ LLC

Gunak Heavy Industries QFZ LLC

Zad Al-Barakah Foodstuff Production QFZ LLC

Iktifaa Pipes Industry QFZ LLC

Zubara Consultants QFZ LLC

Iktifaa Resin Industry QFZ Branch

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Apply now at qfz.gov.qa

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