As an expat living in Qatar, you may want to take your earnings to the next level. It’s okay to rely on your salary and still have a comfortable life. But by investing, you can make your wealth grow, retire early, and not worry about money ever again. With a successful investment, you don’t have to work 8 hours a day; your money just grows sustainably with a little help.
Before, investing in Qatar is difficult for foreigners. But a new foreign investment law in Qatar has opened doors of opportunities for expats that represent a significant majority of the country’s population. This new law became effective last January 2019. It allows foreign investors to own 100 percent of a company in Qatar. Also, expats and foreign investors can now trade in the Qatar Stock Exchange.
New Law Helps Foreigners Invest in Qatar Easier
This new law has really made Qatar attractive to foreign investors. Here are the reasons why this is the case:
Why Qatar is Attractive to Foreign Investments
1. Back in 2018, Qatar was 38th the Global Foreign Direct Investment Country Attractiveness Index.
2. Smoother process of launching businesses and getting licenses.
3. Constantly rising monetary freedom.
4. Effective Qatari government leadership that is held with integrity.
5. Highly stable economy
6. The country has proven during the last few years that it is pro-investor, with regulations that favor investments whether foreign or local.
Savings Account Investments
The following banks provide savings account investments to Qatar expats. These investments are in the form of deposit, savings and current accounts.
1. International Bank of Qatar
2. Commercial Bank of Qatar
3. Al Khalij Commercial Bank
4. Qatar Islamic Bank
5. Masraf Al Rayan
8. Ahli Bank
9. Barwa Bank
10. Doha Bank
Property investments include buying houses to live in or renting out purchased properties. The following are the reasons why Qatar is a desirable place to invest property in:
1. Livability, e.g., sunshine all year, lots of beaches, high standards of living, and most salaries are free of tax.
2. House prices are falling especially since new housing is arriving this year.
3. The World Cup of Football is arriving in 2022, and this should at least bring a transient peak into the property scene.
4. Current infrastructure and transportation projects are boosting Qatar’s economy.
5. Qatar is slowly becoming a top tourist destination, so you can buy property for tourists to rent.
The following are the reasons why Qatar is a great place for business investments:
1. New law on foreign investment makes the country quite attractive to foreign investors. There are a few bigger opportunities than being able to own 100 percent of a business in Qatar.
2. Several restrictions: You can’t own 100 percent of a business if it belongs to the following sectors: defense, security, commercial agency activities, insurance and banking.
3. Qatar is the 28th freest economy in the 2019 index thanks to its openness to foreign investments.
Other Investments in Qatar
You can also make investments in the following:
1. Stocks and shares through the Qatar Stock Exchange
2. Pension investments through corporate pension schemes specifically for expats
3. Getting a mortgage
Investment in Qatar is an exciting endeavor. Before doing so, however, you need to understand the risks and rewards, and basically do your homework. You also need to know who you can contact for advice.
DISCLAIMER: The topics presented in this article are for information-sharing purposes only. They may be used as a personal guide, but they should not be used as a basis for actual business concerns. To learn more about investing as an expat in Qatar, visit the Ministry of Commerce and Industry official website.