Al-Watan: Draft Anti-Cover Up Law on Commercial, Economic Activities Creates Transparent Investment Environment
23 June 2022

Al-Watan: Draft Anti-Cover Up Law on Commercial, Economic Activities Creates Transparent Investment Environment

Doha, June 23 (QNA) - Al-Watan newspaper highlighted in its Thursday editorial the Cabinet meeting on Wednesday chaired by HE the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz Al-Thani, which saw the approval of a draft law on combating the concealment of non-Qatari practice of commercial, economic, and professional activities in violation of the law, and referring it to the Shura Council. The newspaper pointed out that under the provisions of the draft, any non-Qatari person, whether a natural or legal person, is prohibited to practice or invest in a commercial, economic, or professional activity that he is not licensed to practice or invest in according to the laws in force in the State or obtaining percentages of profits that exceed the percentages stipulated in the company's incorporation document or its articles of association. It is also prohibited for any natural or legal person to cover up a non-Qatari person by enabling them to practice or invest in a commercial, economic or professional activity in violation of the provisions of the laws in force in the country, whether by allowing them to use the name of the one who covers up, their license, or their commercial or professional record, or by any other method that enables them to evade their obligations under the laws in force in the country, and whether this is done for the account of the person being covered up or the one who covers up or others, it added. The paper indicated that the preparation of the draft law comes to replace Law No. 25 of 2004 and within the framework of modernizing legislation, creating an investment environment based on transparency, and consolidating the practice of activities in accordance with the provisions of the laws in force in the country. Concluding, Al-Watan stressed that the draft law on combating the cover-up of non-Qatari practice of commercial, economic, and professional activities in violation of the law will be in the public interest as a whole and it will also protect consumers from any practices that harm their interests, in addition to creating a transparent investment environment, subject to regulating laws. (QNA)