IMPACT – MEDIUM
What is the change? Qatar’s government is allowing foreign workers to remain in the country and continue to conduct banking activities even after their residency permits have expired.
What does the change mean? Foreign nationals may remain for three months beyond expiration of their resident permits, and their bank accounts will remain active during that time.
- Implementation time frame: Immediate and ongoing.
- Who is affected: Expatriate workers in Qatar.
- Business impact: The change is intended to encourage business and banking as Qatar is increasingly being isolated from its Gulf neighbors and other countries.
- Background: Normally, authorities block the bank accounts of foreign nationals when their resident permits expire. The new policy is in response to an ongoing economic and diplomatic boycott of Qatar by its neighbors.
BAL Analysis: Foreign employees should be made aware that they may legally remain in Qatar for up to three months beyond the expiration date of their resident permit and that they may continue to conduct regular banking transactions during that time.