March 17, 2010

Qatar clarifies firm requirements

The Qatar Financial Centre Authority has released a consultation paper containing what it describes as a “clarification” of the conditions firms are required to fulfil in order to remain operating in the Qatar Financial Centre.

Qatar

The conditions outlined in the consultation paper are not particularly onerous and many are not new. Firms need to ensure that lawyers are "in good standing of the requisite professional/licensing body in the foreign jurisdiction where the lawyers are admitted to practice law", and will also need to demonstrate expertise in at least one aspect of Qatar law. The paper also reiterates that a licence to operate in the centre does not confer the right to perform local law tasks such as representing a client in a Qatari court. And a new requirement is proposed whereby firms must disclose to clients the jurisdictions in which individual lawyer are admitted to practice.

ALB