Globaleye exits Qatar over ongoing ‘geopolitical situation’
Tax and financial planning for expats consultancy Globaleye has closed down its Qatar operation thanks to the “ongoing geopolitical situation”, the company has told International Investment.
The company’s marketing manager, Rupert Searle, said that it was the “only real reason” for the move, saying that it had become untenable to maintain an office in the country as it had become “increasingly difficult to do business there”.
The beleaguered Gulf state is subject to an ongoing blockade that came into being of June of this year by several countries, including Saudi Arabia, United Arab Emirates, Bahrain, and Egypt.
The severing of relations included withdrawing ambassadors, and imposing trade and travel bans.
Globaleye emailed clients to advise them that the situation locally had“created operational difficulties” and that consequently “Globaleye has decided to cease its operations in Doha”.
“This obviously means that your previous wealth manager, as a result of this decision, cannot represent Globaleye in Qatar in any capacity with immediate effect,” the statement said.
The company said that, while it was confident that it could serve clients from its Dubai office, “we appreciate that you may wish to move your servicing rights to another company in Qatar”.