The Ministry of Business and Trade in Qatar completed a new draft company law, to facilitate the process of founding commercial establishments and update the current legislation. This law is said to “meet the requirements” of the social, political and economic changes associated to Qatar National Vision 2030, keeping score with business developments. It is customized to fit the international standards of countries in terms of starting and doing business, which will increase foreign investments. Concerned parties are granted permission to give their opinion before any amendments to the legislative tools for business and trade are made.
The draft law does not include any provisions regarding the foreign capital investment, which means that the 51% Qatari ownership of the shares of Limited Liability Company’s (LLC) will remain a prerequisite for establishing such kinds of companies in Qatar, unless amended in the final draft of this law. It does not set a minimum capital for establishing the LLC.
The Law consists of (340) articles divided into thirteen sections, with an explanatory note as well.
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