HE GCCSG: The 2nd Ministerial Meeting for the StrategicHis Excellency Mr. Jasem Mohamed Abudaiwi, Secretary General of the Gulf Cooperation Council (GCC), has confirmed that the second ministerial meeting of the strategic Read more 15April2024Share this news...tweetJoint Statement Second GCC-Central Asian Ministerial MeetingThe Second GCC-Central Asia Joint Ministerial Meeting on Strategic Dialogue took place in Tashkent, Read more 15April2024Share this news...tweetStatement Issued by the 44th Extraordinary Meeting of theIn light of the military escalation and developments taking place in the Middle East region, the Ministerial Council of Read more 15April2024Share this news...tweetHis Excellency the President of the Republic of UzbekistanHis Excellency President Shavkat Mirziyoyev, President of the Republic of Uzbekistan, received His Excellency Read more 15April2024Share this news...tweetHE the GCCSG: In Light of Recent and Rapid DevelopmentsHis Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), stated that the Council emphasises Read more 14April2024Share this news...tweet News Events No content found More Events Menu عربي ×News × Events ×Employees Mail × . . × × HomeAbout GCC Member StatesThe CharterOrganizational StructureObjectivesLogo Secretariat General Secretary GeneralAssistant SecretariesTendersJobs GCC AchievementsCurrently selected AchievementsProjects Statements Supreme CouncilMinisterial Council Data Events And Competitions EventsCompetitions Cognitive Sources Laws and RegulationsAgreementsDigital LibraryGCC Statistics Media Center GCC NewsAdvertisingMultimedia LibraryMailing ListLinks Contact US Offices Search Employees Mail Steps have been taken to achieve economic citizenship Steps have been taken to achieve economic citizenship الرئيسية›Home›GCC Achievements›Achievements›Economic Cooperation›The GCC Common Market and Economic nationality›Steps have been taken to achieve economic citizenship›IX. Stock Ownership and Formation of Corporations I. Movement and residenceII. Working at the government and private sectorsIII. Social insurance and pensionIV. Engagement in all professions and craftsV. Engagement in economic, investment and service activitiesVI. Real Estate OwnershipVII. Movement of CapitalsVIII. Tax TreatmentIX. Stock Ownership and Formation of CorporationsCurrently selectedX. Education, Health and Social Services . The Supreme Council’s resolution (9th session, December 1988) allowed GCC nationals to own shares in stock-companies and transfer ownership according to the rules appended thereto. Those rules were amended by the Supreme Council’s resolution (15th session, December 1994). The said rules exclude some corporations such as insurance companies and banks. They also allow imposing other restrictions on the Stock ownership and formation of corporations. All Member States, excluding Qatar, have issued implementing directives to this effect. 2. The practical application of those rules proved that only a small number of GCC nationals have benefited from those rules, while other GCC nationals have refrained from investment in this activity because of the strict controls and exclusions thereof.3. In line with the GCC Economic Agreement, the Supreme Council’s resolution ( 23rd session, December, 2002) provided for equal tax treatment of the GCC nationals in the field of Stock ownership and formation of corporations and the "elimination of all the restrictions preventing that" by 2002 at the latest.4. By 2005, all Member States have issued resolutions according equal treatment to the GCC nationals engaged in this activity, subject to specific controls in some cases.5. Since the practical implementation of that resolution requires technical and legal mechanisms that allow GCC nationals and capital corporations to benefit from said resolution, therefore, an international consulting company was hired to develop the necessary mechanisms for the development and integration of the GCC capital markets. The said study was completed in April 2005. The competent committees are currently reviewing these mechanisms to be submitted to the Supreme Council for approval.
Joint Statement Second GCC-Central Asian Ministerial MeetingThe Second GCC-Central Asia Joint Ministerial Meeting on Strategic Dialogue took place in Tashkent, Read more 15April2024Share this news...tweetStatement Issued by the 44th Extraordinary Meeting of theIn light of the military escalation and developments taking place in the Middle East region, the Ministerial Council of Read more 15April2024Share this news...tweetHis Excellency the President of the Republic of UzbekistanHis Excellency President Shavkat Mirziyoyev, President of the Republic of Uzbekistan, received His Excellency Read more 15April2024Share this news...tweetHE the GCCSG: In Light of Recent and Rapid DevelopmentsHis Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), stated that the Council emphasises Read more 14April2024Share this news...tweet News Events No content found More Events Menu عربي ×News × Events ×Employees Mail × . . × × HomeAbout GCC Member StatesThe CharterOrganizational StructureObjectivesLogo Secretariat General Secretary GeneralAssistant SecretariesTendersJobs GCC AchievementsCurrently selected AchievementsProjects Statements Supreme CouncilMinisterial Council Data Events And Competitions EventsCompetitions Cognitive Sources Laws and RegulationsAgreementsDigital LibraryGCC Statistics Media Center GCC NewsAdvertisingMultimedia LibraryMailing ListLinks Contact US Offices Search Employees Mail Steps have been taken to achieve economic citizenship Steps have been taken to achieve economic citizenship الرئيسية›Home›GCC Achievements›Achievements›Economic Cooperation›The GCC Common Market and Economic nationality›Steps have been taken to achieve economic citizenship›IX. Stock Ownership and Formation of Corporations I. Movement and residenceII. Working at the government and private sectorsIII. Social insurance and pensionIV. Engagement in all professions and craftsV. Engagement in economic, investment and service activitiesVI. Real Estate OwnershipVII. Movement of CapitalsVIII. Tax TreatmentIX. Stock Ownership and Formation of CorporationsCurrently selectedX. Education, Health and Social Services . The Supreme Council’s resolution (9th session, December 1988) allowed GCC nationals to own shares in stock-companies and transfer ownership according to the rules appended thereto. Those rules were amended by the Supreme Council’s resolution (15th session, December 1994). The said rules exclude some corporations such as insurance companies and banks. They also allow imposing other restrictions on the Stock ownership and formation of corporations. All Member States, excluding Qatar, have issued implementing directives to this effect. 2. The practical application of those rules proved that only a small number of GCC nationals have benefited from those rules, while other GCC nationals have refrained from investment in this activity because of the strict controls and exclusions thereof.3. In line with the GCC Economic Agreement, the Supreme Council’s resolution ( 23rd session, December, 2002) provided for equal tax treatment of the GCC nationals in the field of Stock ownership and formation of corporations and the "elimination of all the restrictions preventing that" by 2002 at the latest.4. By 2005, all Member States have issued resolutions according equal treatment to the GCC nationals engaged in this activity, subject to specific controls in some cases.5. Since the practical implementation of that resolution requires technical and legal mechanisms that allow GCC nationals and capital corporations to benefit from said resolution, therefore, an international consulting company was hired to develop the necessary mechanisms for the development and integration of the GCC capital markets. The said study was completed in April 2005. The competent committees are currently reviewing these mechanisms to be submitted to the Supreme Council for approval.
Statement Issued by the 44th Extraordinary Meeting of theIn light of the military escalation and developments taking place in the Middle East region, the Ministerial Council of Read more 15April2024Share this news...tweetHis Excellency the President of the Republic of UzbekistanHis Excellency President Shavkat Mirziyoyev, President of the Republic of Uzbekistan, received His Excellency Read more 15April2024Share this news...tweetHE the GCCSG: In Light of Recent and Rapid DevelopmentsHis Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), stated that the Council emphasises Read more 14April2024Share this news...tweet News
His Excellency the President of the Republic of UzbekistanHis Excellency President Shavkat Mirziyoyev, President of the Republic of Uzbekistan, received His Excellency Read more 15April2024Share this news...tweetHE the GCCSG: In Light of Recent and Rapid DevelopmentsHis Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), stated that the Council emphasises Read more 14April2024Share this news...tweet
HE the GCCSG: In Light of Recent and Rapid DevelopmentsHis Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), stated that the Council emphasises Read more 14April2024Share this news...tweet