DOHA: Qatar has announced the introduction of a 10-year residency program for businesspeople and senior executives, following in the footsteps of neighboring countries, Saudi Arabia and the United Arab Emirates, which have launched long-term residency schemes in recent years.
Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani revealed the plan on Sunday, stating that Qatar is taking significant steps to attract skilled professionals and senior executives to bolster its economy.
In addition to the residency program, Sheikh Mohammed also confirmed that the Qatar Investment Authority (QIA) would be increasing its venture capital program to $2 billion. The “Fund of Funds” initiative, currently valued at $1 billion, was designed to attract venture capital firms to Qatar. The aim is to foster a strong entrepreneurial ecosystem in the country, helping diversify the economy and reduce dependence on gas revenue.
The announcement reflects Qatar’s broader strategy to position itself as a global hub for business and innovation. Similar long-term residency schemes have been introduced by Saudi Arabia and the UAE in recent years, aiming to attract skilled professionals, investors, and entrepreneurs to their respective economies.
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