Qatar is launching an expanded residency program for entrepreneurs, bringing it in line with competitors in the Persian Gulf countries.
Prime Minister of Qatar Sheikh Mohammed bin Abdulrahman Al Thani announced on Sunday the introduction of a 10-year residency program for entrepreneurs and senior executives.
This initiative extends the existing five-year program for entrepreneurs and brings Qatar closer to long-term residency standards for entrepreneurs and businesses in other Gulf monarchies.
The prime minister announced the residency program for entrepreneurs at the Qatar Web Summit on Sunday, while the Qatar Investment Authority also announced plans to expand its venture capital program by $2 billion.
Prior to the program's launch, officials will issue additional circulars to clarify documentation requirements and eligible investor categories.
Expanding the Existing Entrepreneur Support Program
The current residency program for entrepreneurs in Qatar requires applicants to obtain approval from recognized business incubators and make a minimum investment of 250,000 Qatari riyals (approximately US$68,670).
Entrepreneurs must submit a compelling business plan for the investment opportunity and retain at least a 20% stake in their businesses. Under this system, authorities issue five-year renewable residency permits.
For skilled professionals in Qatar, there is a "talented professionals" category, for which the relevant government authorities must approve applications and recognize their expertise in 13 fields, covering arts, entertainment, sports, education, and scientific research.
The Qatari residency system also includes the opportunity to invest in real estate. Foreign nationals who invest QAR 730,000 (approximately US$200,000) or more in freehold real estate in designated residential zones can obtain a residence permit without a sponsor. Higher-tier investors who invest QAR 3.65 million (approximately US$1 million) or more are eligible for permanent residency.
The government has not specified a start date for the 10-year residency program for entrepreneurs or specified whether holders of five-year permits will have the opportunity to upgrade their status.
If you are planning to obtain a residence permit, invest in a country's economy, or purchase real estate abroad, we invite you to a consultation with our company. During a personal online meeting, we will thoroughly discuss your questions and create a step-by-step action plan for you.
Prime Minister of Qatar Sheikh Mohammed bin Abdulrahman Al Thani announced on Sunday the introduction of a 10-year residency program for entrepreneurs and senior executives.
This initiative extends the existing five-year program for entrepreneurs and brings Qatar closer to long-term residency standards for entrepreneurs and businesses in other Gulf monarchies.
The prime minister announced the residency program for entrepreneurs at the Qatar Web Summit on Sunday, while the Qatar Investment Authority also announced plans to expand its venture capital program by $2 billion.
Prior to the program's launch, officials will issue additional circulars to clarify documentation requirements and eligible investor categories.
Expanding the Existing Entrepreneur Support Program
The current residency program for entrepreneurs in Qatar requires applicants to obtain approval from recognized business incubators and make a minimum investment of 250,000 Qatari riyals (approximately US$68,670).
Entrepreneurs must submit a compelling business plan for the investment opportunity and retain at least a 20% stake in their businesses. Under this system, authorities issue five-year renewable residency permits.
For skilled professionals in Qatar, there is a "talented professionals" category, for which the relevant government authorities must approve applications and recognize their expertise in 13 fields, covering arts, entertainment, sports, education, and scientific research.
The Qatari residency system also includes the opportunity to invest in real estate. Foreign nationals who invest QAR 730,000 (approximately US$200,000) or more in freehold real estate in designated residential zones can obtain a residence permit without a sponsor. Higher-tier investors who invest QAR 3.65 million (approximately US$1 million) or more are eligible for permanent residency.
The government has not specified a start date for the 10-year residency program for entrepreneurs or specified whether holders of five-year permits will have the opportunity to upgrade their status.
If you are planning to obtain a residence permit, invest in a country's economy, or purchase real estate abroad, we invite you to a consultation with our company. During a personal online meeting, we will thoroughly discuss your questions and create a step-by-step action plan for you.