Following the establishment of the Court of Investment and Trade effective May 10th 2022, Qatar’s Cabinet issued decision no. 6 / 2022 specifying the fees for lawsuits, requests and guarantees at the Investment and Trade Court. The decision was published in Official Gazette no. 7 of 2022 dated July 3rd 2022, and became effective on July 4th 2022.
As part of Qatar’s ongoing commitment to reduce the risk of money laundering and terrorism financing within Qatar, Law No.4 of 2022 concerning the regulation of the use of cash in transactions (the “Cash Transactions Law”) was published in the Official Gazette No. 7 of 2022 dated 3 July 2022. The Cash Transactions Law is effective from the date of its publication.
Following our previous alerts on the issuance of the Unified Economic Register Law No. (1) of 2020 and its Executive Regulations No. (12) of 2020, the Minister of Commerce and Industry has decided to establish the Unified Economic Register Unit under the Registration and Licencing Department. The decision was issued on 12 June 2022 and has been published in the Official Gazette on 19 June 2022 (the “Decision”).
Decision No.1 of the QCB Governor on the procedures for regulating the moveable assets security register (the “Regulations”) was issued on the 19th of April 2022 and is now effective. The Regulations have been issued pursuant to Article 6 of Law No. 6 of 2021 (the “Moveable Assets Security Law”) and represents a shift to an electronic system for the registration of security over moveable assets.
The Qatari Ministry of Commerce and Industry has recently issued two new Circulars covering certain procedural aspects relating to public and private shareholding companies. Both Circulars were by the Head of the Companies Affairs Department on 1 February 2022.
Qatar Central Bank (“QCB”) has issued Circular No. 23 of 2021 pursuant to which it has issued the Payment Services Regulations (“Payment Services Regulations”). The Payment Services Regulations came into force on 15 September 2021.
Content Types: ArticleRegions & Countries: United Arab EmiratesBahrain...Industries: Banking & FinanceMedical & Health...
The COVID-19 pandemic has catalysed diversification throughout the GCC on an unprecedented scale. This is an extremely welcome development. Indeed, COVID-19 has exposed the region’s digital laggards, prompting governments to place digitalisation at the core of their national strategies as a means of survival.
Content Types: ArticleRegions & Countries: United Arab EmiratesBahrain...Industries: Commodities & Trade Services: TaxLegal
The KSA Zakat, Tax and Customs Authority has on 2 July 2021 issued an immediately effective new decision No. 3852 (the “Decision”) setting new customs regulations. The Decision relates to GCC countries only.