*Ownership allowed in 10 areas; 16 areas earmarked for use for 99 years
Non-Qataris can have freehold ownership of property in 10 areas while 16 areas have been identified where they can use real estate for 99 years, it was announced Tuesday.
This comes in implementation of Law No. 16 of 2018 on the regulation of non-Qatari ownership and use of real estate.
HE the Minister of Justice and Acting Minister of State for Cabinet Affairs Dr Issa bin Saad al-Jafali al-Nuaimi pointed out that this decision comes within the executive procedures of Law No. 16 of 2018 on the regulation of non-Qatari ownership and utilisation of real estate.
Under the provisions of this law, non-Qataris may own and use real estate in many areas according to the conditions, regulations and procedures, which shall be determined by a decision of the Cabinet based on the proposal of the Committee for the Regulation of Ownership and Use of Non-Qatari Property.
In an interview with Qatar TV, HE the Minister said the freehold ownership areas are:
West Bay (Area 66), The Pearl-Qatar (66), Al Khor Resort (74), Rawdat Al Jahaniyah (investment area), Al Qassar (administrative area 60), Al Dafna (administrative area 61), Onaiza (administrative area 63), Al Wasail (69), Al Khraij (69) and Jabal Theyleeb (69).
These areas offer 100% guaranteed return on investment and will represent a new investment model not only in Qatar, but also in the region and the world, as these areas combine capital development and promote cultural co-existence between developers, owners and investors, given their architectural symbolism that combines different world cultures, QNA, citing a statement from the minister, said.
The statement pointed out that citizens and residents will benefit from the advantages offered by the ownership in these areas because the new procedures are characterised by full flexibility and facilitate transactions according to the rules laid down by the law. These are flexible and transparent controls that take into account the latest successful experiences in the field of ownership and use of real estate.
The areas where non-Qataris can use real estate for 99 years are: Msheireb (Area 13), Fereej Abdelaziz (14), Doha Al Jadeed (15), New Al Ghanim (16), Al Refaa and Old Al Hitmi (17), Aslata (18), Fereej Bin Mahmoud (22), Fereej Bin Mahmoud (23), Rawdat Al Khail (24), Mansoura and Fereej Bin Dirham (25), Najma (26), Umm Ghuwailina (27), Al Khulaifat (28), Al Sadd (38), Al Mirqab Al Jadeed and Fereej Al Nasr (39) and the Doha International Airport area (48).
These areas were designated by the Cabinet at its meeting last Wednesday.
Speaking to Qatar TV, HE the Minister said previously only non-Qatari individuals were allowed to own real estate in the country, whether for 99-year use or on free ownership basis. However, the new law and its regulations bestow this privilege also on non-Qatari companies in addition to real estate investment funds, whether these have been established within or outside Qatar.
Non-Qataris can enjoy the ownership of two types of real estate: offices and shops inside commercial complexes, and residential villas inside residential complexes. This is in accordance with the rules and regulations determined by the Ministry of Municipality and Environment.
Talking about the residency benefits, HE Dr al-Nuaimi said according to the new stipulations, owners of real estate valued at a minimum of $200,000 will be issued permanent residency cards for as long as they own the property. For other expatriates, the residency cards are issued for five years, which is renewable, in accordance with Law No 21 of 2015 regulating the Entry, Exit and Residence of Expatriates.
HE the Minister stressed that these new regulations would reflect positively on the country, Qataris, non-Qataris and the national economy. These are expected to push forward economic development in the country, making Qatar a global investment destination.
Permanent residency benefits for investors
Expatriates applying for permanent residency need to draw a minimum basic salary of QR20,000 for government sector employees and a total salary of QR30,000 for private sector workers, as stipulated by the Cabinet.
This was revealed by HE the Minister of Justice and Acting Minister of State for Cabinet Affairs Dr Issa bin Saad al-Jafali al-Nuaimi in an interview with Qatar TV Tuesday.
As for the investor category, applicants should have an actual investment valued at $1mn in the country. Those exempted from this condition include military personnel, those born in Qatar and persons who have resided in the country for a period exceeding 50 years.
His Highness the Amir Sheikh Tamim bin Hamad al-Thani had issued Law No 10 of 2018 on permanent residency for non-Qatari individuals last year.