Officials from the Ministry of Justice (MoJ) and Qatar Financial Centre (QFC) during the opening of the new MoJ office at the QFC, in Doha, recently.
Doha: The Ministry of Justice (MoJ) recently opened its Real Estate Registration and Authentication office at the Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, to further expand its services to a variety of local and international investors.
Among an array of other facilities, the office will offer real estate registration and authentication services to investors at the QFC, making it easier for them to access the related services in a timely manner. The opening of the office builds on both QFC’s and the Ministry of Justice’s continuous efforts to support investors during their entire business journey.
Nasser Al Taweel, Deputy CEO & Chief Legal Officer at QFC said: “We are delighted with the opening of the Ministry of Justice’s office at the QFC that will allow QFC entities greater access to a portfolio of essential services. This is a significant step in the development of a more cohesive business ecosystem in Qatar in line with the government’s efforts to make it easier to do business in the country. It is such partnerships and integration that stand as a witness to the initiatives of the government to attract and retain investors”.
Al Taweel added: “QFC continues to undertake several legal and structural enhancements, together with process improvements, to encourage a broader range of professional and business services firms to be licensed, facilitated by streamlined processes, which has significantly improved the overall applications process. With the ability of QFC entities to own property across the country in line with the applicable laws of the State of Qatar and the relevant QFC regulations, the opening of the MoJ office will indeed facilitate such transactions”.
Al Taweel also reiterated that with Real Estate Investment Trusts (REITs) expected to flourish in Qatar’s market, as investors continue to look into diversifying their portfolios through affordable and low-risk routes with long-term returns, QFC has a unique regime for REITs within its platform. He went on to encourage both local and international entities to avail the services provided by the new MoJ office at QFC.
Saeed Abdullah Al Suwaidi, Assistant Undersecretary for Real Estate Registration and Authentication Affairs at MoJ also said: “The inauguration of this office at QFC comes within the framework of the MoJ’s strategy to expand its Real Estate Registration and Authentication offices across the country and in governmental entities to ensure easy access to real estate registration and authentication services, enhancing the country’s attractiveness and business ecosystem”.
Al Suwaidi noted that the office, which will serve local and international investors registered at QFC, has been equipped with the latest technologies and logistics to facilitate access to integrated legal and business services, including fast and flexible digital services. It follows clearly defined guidelines and regulations for fair and transparent process to help businesses grow and compete in Qatar within a legal system that meets their aspirations and conform to the Qatar National Vision 2030.
He added: “The MoJ, under the guidance of the Minister of Justice H E Masoud Mohammed Al Amri, is currently transforming manual operations to comprehensive e-services, without having to visit the Ministry or its service centres. This will ensure that applicants visit the Ministry only to obtain the legal or real estate documents, which will reflect positively on the quality of services provided at the Ministry’s centres and outside offices”.
Al Suwaidi also stressed that the MoJ is a key partner in the Single-Window initiative, as well as in all governmental projects related to improving investment climate in the country. “Thanks to these efforts, Qatar ranks first globally in facilitating procedures to obtain ownership according to World Bank’s ranking of Ease of Doing Business in 2020. These facilities are currently being offered through a single window in the Ministry’s offices for the ownership and use of real estates in The Pearl-Qatar and Lusail, which serves the real estate investment industry generally and establishes adequate framework to receive investors from inside and outside the country. Moreover, the Ministry also provides authentication and attestation services for corporates’ contracts at the Ministry of Commerce and Industry as part of its efforts to facilitate procedures for clients and investors,” Al Suwaidi added.
He went on to thank the QFC for its support to the Ministry’s plan to expand its services offered to clients and investors and expressed confidence that the new office will enhance the platform’s mandate in attracting regional and international new businesses to register and conduct business activities in Qatar.
