Qatar International Court And Dispute Resolution Centre Jurisdiction Extends To Additional Special Economic Zones
November 26, 2023
The Qatar International Court and Dispute Resolution Centre’s (“QICDRC”) jurisdiction recently expanded significantly to include the Qatar Science And Technology Park, and Media City. The jurisdiction of the QICDRC already consists of the Qatar Financial Centre and the Qatar Free Zone. The QICDRC is comprised of a civil and commercial court and a regulatory tribunal. It’s panel of judges are from 13 different jurisdictions, including Qatar.
The move is part of Qatar’s efforts to unify the regulatory structure across all Special Economic Zones (“SEZ”) to promote business certainty and consistent application of justice therein. SEZs are unique jurisdictions within Qatar with special business-friendly laws, including relaxed foreign ownership rules, lower taxes, and easier repatriation of profits. The SEZs contribute substantially to Qatar’s growth, job creation, increasing investor confidence, and developing entrepreneurial endeavours. It is anticipated that additional SEZs will be introduced in the future, likely adding to the QICDRC’s jurisdiction.