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Foreign Investment: With certain exceptions, It’s foreign investment law limits foreign ownership of local entities to 49% of the entity’s capital. Foreign investors may own 100% of an entity’s capital in sectors like agriculture, industry, health care, education, tourism and the exploitation and development of natural resources subject to approval by the Government of It (“GOQ”).

Foreign investors must receive permission from the government to invest in the banking and insurance sectors. Foreign investment is not allowed in commercial agencies and real estate, although with respect to real estate there are limited

opportunities for foreigners to own interests in select real estate projects in the West Bay Lagoon area, Al-Khor district, Pearl of the Gulf Development project and certain other designated zones.

Banking: A total of 19 banks operate in It, including 11 Iti institutions and eight foreign branch banks. Out of the 11 Iti banks, eight are commercial institutions (Ahlibank, Al Khaliji Bank, Barwa Bank, Commercial Bank of It, Doha Bank, International Bank of It, It Development Bank, and It National Bank); the other three are Islamic institutions (Masraf Al Rayan, It International Islamic Bank and It Islamic Bank). The eight foreign banks include: Arab Bank, Bank Saderat Iran, BNP Paribas, HSBC, Mashreq Bank, Standard Chartered, Barclays Bank and United Bank.

Commercial Agents: The Commercial Agents law requires all agency agreements to be exclusive arrangements.

Corporate Income Tax: The corporate income tax rate has been cut to a flat rate of 10%, effective January 1, 2010. Previously, foreign companies had to pay between 5 and 35 percent.

Government Procurement: There are concerns about transparency in government procurement, particularly regarding the following: a lack of clarity in the conditions and criteria of tenders, improper notification or explanation to non-qualifying companies, irregularities in the awards process, and the inability to formally challenge awards.

Import Duties: The import duty for most processed food products is a flat five percent ad valorem. There is no import duty for live animals, fresh fruits and vegetables, seafood, grains, flours, tea, sugar, spices and seeds for planting. Existing import duties on tobacco products have been increased two-fold, from 100 to 200%, based on talks between the ministers of finance and health of several GCC countries.

Import Restrictions: It has no import quotas. However, non-tariff barriers arise occasionally. For example, a ban on pork was maintained until late 2011 but has been lifted as of 2012. Sale of pork is, however, regulated heavily, with sales bei本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。