The State of Qatar has issued Official Gazette No.10 of 2020, which contains a number of key developments, noted below.
- Law No.12 of 2020 regulating private public partnerships (PPPs). This is a key step to further involving the private sector in Qatar's economic development. Previously the government has announced that PPPs will be used to support projects in connection with the 2022 World Cup and the Qatar National Vision 2030. The law contains provisions in relation to the allocation of land for development by the private sector through licence and build operate transfer arrangements, among other arrangements, as well as how projects will be tendered and awarded.
- Cabinet Decision No.12 of 2020 issuing the implementing regulations of the Unified Economic Registry. This clarifies a number of items in relation to Law No.1 of 2020, which introduced the main legal framework in relation to the Unified Economic Registry. The decision deals with matters such as the mechanics of the issue of a Unified Economic Number to each economic entity registered with the Ministry of Commerce and Industry and the provision of certain information by such entities (including beneficial ownership information) to the Ministry of Commerce and Industry as well as record keeping requirements.
- Decision No. 44 of 2020 of the Minister of Commerce and Industry. This issues the implementing regulations of Law No.1 of 2019 (which regulates the investment of non-Qatari capital into corporate entities established in the State of Qatar). It is a key development as it further clarifies the process by which economic entities registered with the Ministry of Commerce and Industry may apply for 100% foreign ownership (as opposed to the more traditional model of 49% foreign ownership).
For further information please contact Alistair Stewart.