HH the Emir of Qatar Issues Law on Regulation of Non-Qatari Investments

Doha, August 05 (QNA) - HH the Emir Sheikh Tamim bin Hamad Al-Thani on Tuesday issued Law No. 9 of 2014 amending some provisions of Law No. 13 of 2000 on regulating the investment of non-Qatari capital in economic activity. The law stipulates that non-Qatari investors are allowed to own no more than 49 percent of the shares of Qatari shareholding companies listed on Qatar Exchange after they gain the approval of the Ministry of Economy and Commerce for the proposed percentage in the company's memorandum of association and statute. Based on a recommendation by the minister, these investors are also allowed to own more than the percentage in question provided that they attain cabinet approval. GCC nationals are to be treated as Qatari citizens in the ownership of companies listed on Qatar Exchange. The law is effective starting from its date of issue and is to be published in the official gazette. (QNA)