This week the spotlight is on legal and regulatory developments in free zones in the GCC where Qatar’s Cabinet has called for a draft law specifying regulations for economic zones in the country to be issued. The call follows a review by the Council of Ministers of the Advisory Council’s recommendations regarding the law. If approved, the Council of Ministers, following a proposal from the board of directors of the Economic Zones Company (Manateq) will be able to establish one or more economic zones. All types of companies, partnership contracts or other legal entities, owned by one or more natural or legal persons will be able to be established in the zone. It will not matter if they are foreigners or nationals. They will be exempt from having to obtain any other licence, approval, permission or registration in the country. They will also be free to transfer any of their capital, income, profits or investments outside the State without restrictions.
Elsewhere, Dubai’s Land Department has announced it is preparing an action plan to regulate lease registrations in the Emirate’s free zone areas. The regulatory system will be implemented in phases by Dubai Investments Park. It will include updating relevant data for all properties under their jurisdiction and registered in the Land Department’s Ejari system.