Qatar announces new residency scheme for investors

Qatar announced Monday it will grant residency to foreign investors for the first time, state media reported, the latest in a series of measures designed to diversify the economy.Foreigners investing an unspecified level of "non-Qatari capital" in the economy will be eligible for renewable five-year residency permits, the state-run Qatar News Agency reported.Real estate developers active in Qatar's property market will also be eligible for the scheme, under the new law.