Full foreign ownership authorized in Qatar

The Qatari government has approved the draft bill authorizing foreign ownership of local companies. Currently capped at 49%, the shareholding rate of foreigners in the capital of local companies may now be raised to 100%.

The new provision pertains to all economic sectors including banks and insurance. A special permit from the government is, nonetheless required for the last two areas of business.

This initiative has been designed to boost the economy, outside hydrocarbons, which has been stagnant since the recent outbreak of the political crisis between Qatar and its neighbors.

Read also | Ranking of insurance companies in Qatar