Summary

The UK and Qatar have strong ties economically, politically and culturally, with an estimated 21,000 British nationals living in Qatar, and the English language being widely spoken. Along with more Brits moving to the country, a large number of UK businesses operate in Qatar. As of 1992, the Qatar British Business Forum has been in place to encourage trade between the two countries.

For this reason, money transfers between Qatar and the UK are relatively straightforward. Make the most of your Qatari Rial to British Pound Sterling transfers by using a trusted money transfer provider.

QAR to GBP

The British Pound Sterling (GBP) has long been in circulation, and is one of the most traded currencies in the world. Following an unstable economy in the UK, the GBP dropped in value from 2020.

In Qatar the modern Qatari Riyal (QAR) has been used since the 1970s, after replacing the Saudi Riyal, and before that, the Indian Rupee. Pegged to the US dollar, the riyal was impacted by the 2017 Qatar diplomatic crisis, but has ultimately stabilised for the most part in the last year.

Trading relations

In the last few decades, trade between Qatar and the UK has increased, with the founding of the Qatar Business Forum in 1992 helping to solidify this union.  With the UK exporting $4.11bn to Qatar in 2022, and importing $8.6bn, evidently the two countries are important to one another in terms of trade. Bilateral trade is thriving between the two, with projected growth and investment in upcoming years.

Negotiations are ongoing for a free trade agreement since Brexit, and meetings will be held in 2023, which looks promising for future trade between the two. Hoping to meet a free trade agreement with the Gulf Cooperation Council, the UK could make headway this year.

Visas

If you’re planning to move to the UK from Qatar, your reason for moving will determine the visa that you require. While there are temporary and visitor visas for shorter stays, if you’re planning to move for an extended period of time, you will have different visa needs.

For study, joining family or work, there are specific visas in place, allowing for stays of longer than two years (although for study and work you may need to extend your visa to stay longer than five years). Find out all the information you need on the GOV.UK website.

Money and banking

Opening a bank account in the UK is relatively simple if you have the right documents, and there are plenty of high street banks to choose from that have local branches. Before contacting your bank of choice, be sure to collect the necessary paperwork: generally this will consist of proof of identity and proof of residence. Having a bank account in the UK will be fundamental for those looking to move here, so this is something that’s worth researching early on.

However, note that UK banks will charge fees for sending money abroad, so if you’re planning on making several payments, finding a suitable money transfer service can save you money.

Tax

Familiarise yourself with taxation laws in the UK, as they differ from what Qatari nationals will be used to. Income tax is charged above the personal allowance of £12,570 as of 2023, and how you pay will depend on your type of employment.

Self-employed UK residents will be required to file a tax return yourself, but if you have an employer this tax will be deducted from your wages.

Seeking expert advice will always be a good idea when making this move, as taxation is complex and errors can cost dearly.

Buying property

When buying property in the UK, it’s advisable to gain legal advice before making any big decisions. The process will require obtaining certain documents, so ensuring that you have the correct paperwork is a necessity.

The UK has faced soaring house prices amid the pandemic, but the eye-watering property costs are slowly going back down. With the average house price sitting at £258,297 in January 2023, choosing to buy property in the UK is an investment that should be researched thoroughly. With high inflation rates also being a reality for living in the UK, the move should be made only with careful consideration.

Having said this, there are plenty of benefits to living in the UK, from a diverse mix of cultures to a national health service that is largely free, so once putting aside relatively high property costs, making the move can be a great decision.     

Studying in the UK

The UK makes for one of the most popular choices for international students, with 120,000 from the EU and just shy of 560,000 non-EU students in the academic year 2021/2022. With prestigious institutions such as Oxford university, and a lively student culture, international students in the UK can gain a lot from seeking an education there.

One thing to note about doing a degree in the UK is the high tuition fees that apply to international students. Whereas there is a cap on fees for UK nationals, international students face an average of £22,200 a year. Be sure you can afford living costs too, and remember living in London will cost more!

Whatever the reason for sending money from Qatar to UK, you can avoid bank fees by going via a trusted money transfer provider.