Article 12 – Statutory guarantees

Notwithstanding any provision to the contrary in any other law or regulation, entities that are approved, authorised or licensed to carry on their activities in and from the QFC will:

1. not be subject to any nationalisation or expropriation measures or any restriction on private ownership;
2. have freedom to repatriate profits and realise investments;
3. have freedom to recruit and employ employees of their choice on such terms as they wish to agree subject to the Regulations and any international treaty obligations entered into by the State in respect of the terms of employment of employees in the State; and
4. not be subject to any taxes except those set by or determined in accordance with the Regulations.
5. Be owned up to 100% by persons, companies and other entities which are not nationals of, or resident in, the State.