General Overview. Qatar as many other oil countries tries to diversify its economy, in order not to be dependent exclusively on oil-related business.  Moreover, local rules are being constantly liberalized for foreigners who wish to conduct an offshore business in Qatar. The jurisdiction has signed a number of double taxation treaties, which is another plus for conducting several business activities from the jurisdiction. Generally, only Qatar nationals are allowed to operate in banking and insurance sectors.

Offshore Banking. There are domestic banks which conduct banking activity according to Islamic principles, as well as international banks. In order to provide banking services an institution should obtain a banking license from local authorities, which specifies a range of services it is allowed to provide.