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Saturday, October 31, 2009

100% Ownership for IT Companies in Qatar

We are very impressed with the most recent change in Qatar's foreign ownership laws, which now allows 100% foreign ownership of Information and Technology companies.

Of course, you would still have to cough up QAR200,000 for a company here, and rent an office, but then Qatar is looking for serious investors in the country.

This is one of three sectors which have been thrown open to full foreign ownership - the other sectors being distribution services and consultative and technical work services. These join a number of existing areas where this is already allowed.

Giving up 51% of your business, even with a revenue sharing agreeement which allows you to keep the bulk of the profits, puts off some investors, and it's a smart move to remove this obligation from areas of the economy which could do with a boost - or which could boost other industries in Qatar.

We also suspect that ICT Qatar, a fairly forward thinking organisation which seems faster on its feet than some Qatar beaurocracy, may be behind the move to encourage IT investment.

You can read the original article in the Peninsula. You can also read David Chaddock's article on How to Set Up a Business in Qatar.

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