Qatar Grants Residence Permits Without Sponsor For Investors
On Monday His Highness the Amir Sheikh Tamim bin Hamad Al-Thani granted residence permits without sponsors for foreign investors for a period of five years. H.H the Amir issued Decree Law No. (23) of 2019, amending some provisions of Law No. (21) of 2015 regulating the entry and exit of expatriates and their residence.
Along with foreign investors, real estate developers active in Qatar's also benefit from this new decree. Under this amendment, the Ministry of Interior [MOI] can issue entry permits and grant residence for owners, investors as well as real estate developers for a period of five years which is renewable. For real estate developers, the residence permit will be renewed automatically until the duration of their ownership.
Prior to the new law, sponsorship by a Qatari individual or business was required for an investor to obtain residency. The new decree law will help to attract more foreign investment, increase tax revenue and boost economic activity in Qatar. The new law initiative by Qatar government was welcomed by the Indian community in Qatar.