Qatar: Draft Intellectual Property Law Approved

Gulf Times, 6 May 2021: Qatar’s Cabinet has approved a draft protection of trademarks, copyright and neighbouring rights of the International Football Association law.

Among other things, the Law contains provisions on the registration of FIFA trademarks, the deposit of works, audio recordings, performances of performers and FIFA radio programmes with the office at the request of FIFA or its representative for this purpose.

The power of attorney also has to be notarised.

They have referred it to the Shoura Council to consider.

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Qatar: Draft Mediation in Civil and Commercial Disputes Resolution Law Discussed

The Shoura Council has discussed a draft law on mediation in settling civil and commercial disputes. Among other things, it specifies mediation agreements which its provisions will apply to.

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Qatar: Recommendations on Investment and Trade Court Establishment Submitted

The Legal and Legislative Affairs Committee of Qatar’s Shoura Council has held a meeting. They examined the draft law on establishing an investment and trade court and submitted its recommendations to the Shoura Council.

Qatar: Draft Law on non-Qatari Investors Approved

Qatar’s Cabinet has approved a draft law on non-Qatari investors. Among other amendments to Qatar Law No. 1/2019, the amendment to Article 7 it will allow non-Qatari investors to own up to 100% of the capital of Qatari shareholding companies listed on the Qatar Stock Exchange. They also approved a draft Finance Ministry Decision to apply the requirements of substantial activity to the economic activities practiced in Qatar.

Qatar: Simplified Tax Returns Introduced

Qatar’s General Tax Authority has announced it has started implementing a simplified tax returns system. It will simplify the returns which have to be submitted by companies and permanent establishments who are exempt from tax and who are owned by Qatari and GCC citizens as well as whose share capital is less than one million Riyals and annual revenue is less than five million Riyals. The system has been introduced in line with Qatar Circular No. 2/2021. These entities will have to submit the tax return and audited financial statements based on the approved tax return form.

Qatar: Mortgaging Movable Assets Law Approved

Qatar’s Shoura Council has approved a mortgaging movable assets law. Under the law, SMEs will be allowed to receive loans mortgaged to movables assets. The movable assets could include equipment, machines and crops among others. It aims to facilitates credit lines to SMEs and mitigate the risks of loans defaults. The Council amended two provisions in the law before approving it. It has been referred to the Cabinet to consider.

Qatar: Financial Markets Authority Issues New Offering & Listing of Securities on the Financial Markets Rulebook

The new offering and listing rules in Qatar will come into force on 1 April. They introduce various controls for listing financial securities in public offerings. Under the rules, the issuing authorities, be they Qatari or foreign ones, as well as enterprises in the Qatari Financial Centre or Free Zones can list financial securities in public offerings provided they meet a number of conditions including submitting a request to get the approval of the Authority, prepare an announcement on the listing which includes full and sufficient details which matter to investors using the designated template and pay the relevant fees.