Press Release

Qatar creates free-trade zone for technology companies

27 September 2005, Doha - The Government of Qatar today created a free-trade zone to attract foreign companies to conduct applied research and development in the Gulf state.

The zone, which covers the new Qatar Science & Technology Park, allows businesses to be established that are 100 percent foreign owned and free from tax and duties.  Further, those businesses can trade without a local agent and can sponsor their own employees.  Applicants have the choice of operating as a branch of an overseas company or incorporating a new local company.

In return for these benefits, companies at QSTP are required to make technology development their main activity.  This can include applied research, the development and testing of new products and services, or technology-related training.

QSTP provides an attractive environment for technology-based companies.  It is part of Qatar Foundation, which includes campuses of major international universities such as Carnegie Mellon, Texas A&M, Weill Cornell and Georgetown.  The buildings under construction at the science park are capable of being used for serious wet-lab research as well as being fitted with world-class offices.  Chaired by Her Highness the Wife of the Emir, Qatar Foundation and its science park are prominent in the Qatar community.

The first applicants for free-zone licenses will come from QSTP's already-signed tenants, which include EADS, ExxonMobil, Microsoft, Shell and Total.  The science park hopes to attract further tenants now that its free zone has been established and the opening of its new buildings - slated for late 2006 - draws nearer.