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. Recent legal liberalisation, economic diversification and an expanding economy provides many investment opportunities for non-Qataris. Investors are also able to enjoy unrivalled world connectivity via one of the largest ports in the region, Hamad Port, and the world’s best airport, airline and air cargo carrier. 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: • 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 applied at a flat rate of 10%. • Employment and immigration rules enabling 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. • 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: following the signing of Al Ula Declaration regarding the blockade against Qatar, legal advice is recommended for this type of commercial activity. • 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-

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

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

• 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 the preceding caveat in Investment

Regulations regarding the blockade. • Appointing a commercial agent means a non-

Qatari 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).

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. Qatar

Free Zones include: ° 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.

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.

• 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. • 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; 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, with the relevant fees, at gov.qa 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 Q3 2021 amounted to QAR82.6 bn, for such things as mineral fuels, lubricants and chemicals, mainly to Asia. There are no duties on exports. Imports According to PSA, imports in Q3 2021 totalled QAR24.8 bn, for crude materials, manufactured goods, chemicals and related products and mineral fuels, from Asia and the EU. 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. Effective from May 2021, incoming parcels and personal shipments with a cost, insurance and freight (CIF) value exceeding QAR1,000 is liable to 5% customs duties (previously QAR3,000). 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 800 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.

Qatar implemented the World ATA Carnet Council in 2018, an international customs system with nearly 80 member countries, permitting the dutyfree 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). Import regulations All commercial shipments are examined by GAC prior to clearance. The Qatar Electronic Customs Clearance Single Window (Al Nadeeb) is a one-stop e-government system to facilitate international trade. customs.gov.qa 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 signing of AlUla Declaration regarding the blockade against Qatar means commercial cargo movement has resumed between Qatar and Saudi Arabia. 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 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. 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

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

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. The ministry is a primary resource for information when opening a company and investing in Qatar, while 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 Unified Website of State Procurement include tenders and company registration. mof.gov.qa, customs.gov.qa, monaqasat.mof.gov.qa Ministry of Municipality and Ministry of Environment and Climate Change C4 The Foras investment portal promotes PPPs, currently for environmental, waste treatment, recycling and sustainability projects. mme.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 Has 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 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 USD300 bn in assets, although the fund does not publish its holdings. Following a restructure in 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 and Rosneft PJSC, and sold its share in Tiffany & Co in January 2021 to LVMH for USD1.5 bn. New investments include retail properties in New York City with Crown Acquisitions, and in Los Angeles with Douglas Emmett. The fund aims to invest USD45 bn in the US, GBP5 bn in the UK, and USD1 bn in sub-Saharan Africa. Following five years of redevelopment, 52 Champs-Elysées in Paris relaunched in 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, 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, 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, Total SA, Turkuvaz, Valentino Fashion Group SpA, Vente-Privée, Vivendi, Volkswagen AG, Xstrata PLC.

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 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: • A separate legal, regulatory, tax and business environment. • 100% foreign ownership, 100% repatriation of profits, and 10% corporate tax on locally sourced profits. • A double taxation avoidance agreement network with more than 80 countries. More than 1,100 local and international firms are currently registered, surpassing the 2019 target of 1,000 active firms by 2022. Companies comprise investment and private banking entities, and (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). The QFC is taking a major step in diversifying key economic sectors eg digital, financial services, sports, and media. An attractive incentives programme is available to multinational companies, offering free offices, highly‑competitive tax incentives, and seed capital to cover five years of operating expenses in return for a 10‑year commitment. An enhanced registration sees complete registration applications reviewed and processed quickly, and firms have a dedicated Business Development Representative to coordinate setting up. The Investment Promotion Agency Qatar, registered at the QFC since 2019, is a single source of investment solutions in Qatar by attracting foreign direct investment in all of the country’s priority sectors. qfc.qa, invest.qa The QFCA, the commercial arm of the QFC, leads the expansion of Qatar’s financial services sector and develops 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 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. Under Laws No 14 and 15 passed in September 2021, the QICDRC's jurisdiction was expanded to include the Qatar Free Zones and the Qatar Free Zones Authority, as well as matters referred to the Court or Regulatory Tribunal by any law in the State. A new practice direction on small claims, No 1 of 2022, substantially shortens the time to reach a judgment and offers a quick and efficient legal dispute resolution mechanism. qicdrc.com.qa

Qatar Stock Exchange (QSE)

QSE 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 (QCB) from Qatar Financial Markets Authority (QFMA), and in 2014 Qatar was added to the Morgan Stanley Capital International Emerging Market Index. It was upgraded in 2016 to Secondary Emerging Market by FTSE Russell.

Trading in treasury bills began in 2011 and in 2012 the Venture Market for SMEs was launched, after the QFMA adopted new listing and initial public offerings (IPO) rules in the secondary market. There are 47 listed companies on the main market and 2 companies on the venture market, and 7 brokerage firms (February 2022). Residents, expats and individual companies are all able to invest. Traders must open an account with one of the brokerage firms, who will act as an intermediary for all transactions and provide a National Investor Number for a fee of QAR100. Traders must also register at 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 exchange. qe.com.qa, 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. Cabinet Resolution No 28 of 2020, passed in October 2020, 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. 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: • 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 Jadeeda (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) Cushman & Wakefield 4483 7388 Direct Real Estate 4442 1472 Just Real Estate 4491 3300 New Methods 4410 8000 United Development Company 4409 5155

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 meetings may be deemed binding, written agreements may not • Appointments should be reconfirmed on the day • While English is widely spoken, the language of government is Arabic • Sit and talk with your host on general matters before approaching business.