The State of Qatar Qatar has set conditions and controls for non-Qatari ownership of real estate in the country, specifying the areas in which non-Qataris may own and benefit from real estate. It has also outlined conditions, controls, advantages and procedures for ownership and use in accordance with a decision issued by the Council of Ministers in this regard.
The move is in the framework for completing the package of measures taken by Qatar to provide a legislative and legal environment that is conducive for investment.
Cabinet Resolution No (28) of 2020 defined the areas in which non-Qataris may own and benefit from real estate, and the conditions, controls, benefits and procedures for their ownership and use of them.
Non-Qataris can own and use real estate in 9 areas (freehold) and they can also benefit from real estate in 16 areas (99-year lease). So, non-Qataris can own and use real estate in 25 areas of the country.
In a statement, the Ministry of Justice said the decision introduced new advantages according to which Qataris and non-Qataris may own a detached unit in one of the residential complexes, and they may also own the detached units (offices and shops) in commercial malls, in other than the mentioned areas, provided that they do not cause any modification or change in the nature, shape or outward appearance of the unit.
Minister of Justice and Acting Minister of State for Cabinet Affairs H.E. Dr. Issa bin Saad Al Jafali Al Nuaimi said the decision supports the government's plans for economic diversification, and the establishment of an integrated legislative system to achieve the goals of Qatar National Vision 2030.
He said these decisions will make a qualitative leap in developing the real estate sector in Qatar and enhancing its investment attractiveness in the region, in a way that serves the national economy and enhances the attractive legislative and legal environment that stimulates investors and guarantees them safe and promising investment at the same time, in a way that benefits the local and foreign investor on the one hand and the economy and the real estate sector in the country on the other hand.
The minister said, "We now have 16 areas where non-Qataris can use real estate for a period of 99 years and 9 freehold areas where Qataris and non-Qataris have the right to free ownership of residential units. Inside residential complexes and shops inside malls."
Also, real estate investment funds that will specialise in real estate investment in the various regions and units referred to have also been allowed. This decision will provide an opportunity that was previously unavailable to middle and limited-income citizens to invest in the real estate sector.
The areas also give promising opportunities and new advantages for Qatari citizens to invest in the real estate sector, whether through partnership and investment opportunities through buying and selling in the 25 areas covered by these decisions or through local and foreign real estate investment funds that will be allocated to investors in the near future. This decision will contribute to the advancement of the Qatari real estate market and accelerate economic development, as well as stimulate the movement of real estate transactions.
The approval of the Council of Ministers recently included the addition of new categories, as the decision to allow previously was limited to individuals, and now non-Qatari companies are also allowed to own in the same areas specified in the decision of the Council of Ministers based on the proposal of a committee to regulate the ownership and use of real estate by non-Qataris.
The procedures for granting residency to property owners whose value is not less than QR730,000, equivalent to $200,000, have been facilitated so that the owner of the property from this category obtains a residence permit for himself and his family without a recruiter for the duration of his ownership of the property.
The Ministry of Interior and the Ministry of Justice have also worked to develop an automated system through which non-Qataris can obtain residency directly upon completion of the property ownership procedures.
The owner of the property whose value is not less than $1 million will receive permanent residency benefits that include health, education, and investment in some commercial activities.
Within the framework of the investment facilities that keep pace with the new legislation in Qatar regarding the ownership of real estate by non-Qataris, all services and procedures for selling and buying, extracting bonds and obtaining concessions related to these real estate services will be provided through a single point of contact through the Ministry of Justice.
Ownership has also become available in commercial malls and units in residential complexes in all regions of the country.
The ministerial decision opens promising prospects for investors to enter into strategic partnerships that will benefit the various groups of society, given the expected investment returns in these areas.
Source: Qatar News Agency
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