Foreign investment in Qatar is governed by Law 13 of the Year 2000 on the Organization of Foreign Capital Investment in Economic Activity, as amended (the Foreign Investment Law). It allows non- Qatari investors to invest in all sectors of the Qatar economy, subject to the requirement that 51 percent of the share capital in the venture be held by a Qatari person, legal or natural. Foreign investment is generally not permitted in banking and insurance activities (unless by Ministerial Resolution or if such activities fall under an applicable Free Zone) nor commercial agency or real estate activities. There are, however, certain exceptions with respect to real estate which allow for the provision of land necessary for government approved investment projects. A concession is made when the foreign component of the ownership in the new venture is made up of a GCC national or wholly-owned GCC legal entity. In this case, the GCC national or legal entity may own up to 50 percent of the share capital in the new Qatar venture with a Qatari counterpart holding the remaining share capital. For the purpose of this law, a Qatari legal person is restricted to an entity owned wholly by a Qatari national. An exception to the foreign ownership rules may be granted to foreign companies or individuals who obtain a decision from the Minister of Business and Trade for carrying on business in Qatar as a 100 percent foreign-owned entity.