Sponsorship and investment Thursday, 17 June 2010 06:17

atar works hard to diversify its economy, while supporting the oil and energy sector, which is the main pillar of the economy.

Qatari laws too aim to ease the flow of investments into the country. Some laws are made to function as magnets for investors, including Law No. 4/2004, which regulates the entry, the sponsorship, and the residence of foreigners.

This law exempts some people from the sponsorship condition when they enter Qatar. The same law absolves women, and children who stay up to 30 days in Qatar from the same condition.

The Interior Minister can allow the following categories of foreigners to enter Qatar and stay in it without sponsors:

• Investors subject to Law No. 13/2000, which regulates entry of foreign capital into Qatar.

• Real estate owners subject to Law No 17/2004, which regulates foreign ownership of properties in in Qatar.

• Other categories of foreigners approved by the Qatari Cabinet

Foreigners seeking residence permits have to do the following:

• Submit documents, proving their right to a residence permit.

• Have good reputation.

• Pass all health tests.

Foreign investors have the right to invest their money in all fields of the economy, provided that they have Qatari partners with 51 per cent or more of project stakes.

The Minister Concerned may allow foreign investors to own more than 50 percent of shares in agricultural, healthcare, or tourist projects or ones aiming at the development of natural resources or in the fields of mining and energy.

Law No. 17/2004 allows citizens from the Gulf Cooperation Council to own properties in investment zones, which are established according to decrees from the Qatari Cabinet.