Article 89 - Qatari Owned QFC Entity
(1) A Qatari Owned QFC Entity is an LLC , which throughout the Accounting Periods to which the election referred to in Article 89 relates, fulfils the following conditions—
(a) at least 90% of the Ordinary Share Capital of the LLC is beneficially owned, directly or indirectly, by Persons who are Qatari Nationals ;
(b) Persons who are Qatari Nationals are beneficially entitled to at least 90% of any profits of the LLC available for Distribution to equity holders of the LLC ;
(c) Persons who are Qatari Nationals are beneficially entitled to at least 90% of any assets of the LLC available to equity holders on a winding up of the LLC ; and
(d) it is not an Authorised Firm .
| Amended (as from 12th June 2017). |