An Egyptian and a Pakistani have become the first two foreigners to obtain residency permits because they own property in Qatar.
Their real estate properties will act as their sponsor.
Ten leaseholders have applied for RPs under the sponsorship of their properties, an official at the Ministry of Municipality and Urban Planning said.
Seventy non-Qataris have sought ownership of real estate properties since it became legal to do so in 2009, said Abdullah Ibrahim Al Sada, director of the Real Estate Registration for Non-Qataris department at the ministry.
According to a report in the Peninsula:
There are certain conditions for non-Qataris to buy and own properties under the new decree.
The original sponsor should agree to transfer sponsorship to his property. If the investor is coming from abroad he should be holding a Qatari visa before buying the property. Under the new rule, the beneficiary will be purchasing leasehold from the property owner on a 99-year renewable basis.
Those who lease the property are considered investors and they are entitled to use the properties commercially or for their own benefit, transfer the lease to another party, sublet or rent.
They will also have residency rights including that for their family provided the Ministry of Interior’s permission is granted.
The report also said the new law is attracting foreign interest in Qatar’s many empty office towers.
The rules seem a bit vague to me. There is also a distinction between owning property at the Pearl, for example, versus owning something in a residential area like Al Sadd. Also, how can a real estate company sponsor someone?
What do you guys think about the implications of this new decree? Could it have any significant impact on how the sponsorship system works here?