Qatar Financial Centre

Qatar Financial Centre Authority (QFCA) has expanded the scope of its permitted activities to include non-regulated activities that are not related to finance.

The Qatar Financial Centre (QFC) is a government initiative aimed at creating a financial hub in Qatar. Established in 2005 the QFC has successfully attracted institutions, professional services firms and multinational corporations to establish their presence in the country. This article provides an overview of the QFC and its vital role in bolstering the growth and development of Qatar's economy.

Introduction to Qatar Financial Centre

Similar to the Qatar Science and Technology Park Free Zone Qatar has introduced the QFC as a location for businesses of all sizes – be it startups or established entities. The QFC offers its members a range of services and incentives such as a tax environment, simplified regulations and streamlined business registration and licensing processes.

The QFC has emerged as one of the leading centers in the Middle East attracting recognized financial institutions and professional services firms to operate within its premises.

Some notable institutions that have already established themselves at the QFC include J.P. Morgan, Barclays, HSBC, Citibank and Credit Suisse.The Qatar Financial Centre (QFC) has also attracted law and accounting firms, like Allen & Overy, Clifford Chance and Deloitte.

Setting up operations in the Qatar Financial Centre comes with benefits for businesses. Some of the advantages include

1. Low Tax Environment

Companies that choose to establish their operations in the QFC enjoy the perks of a low tax environment. The corporate tax rate stands at 10% without any income or capital gains taxes to worry about.

2. Streamlined Regulatory Framework 

The QFC has implemented a simplified framework that facilitates establishment of companies within the country. This framework adheres to practices ensuring high levels of investor protection.

3. Access to Markets

By being part of the Qatar financial center authority companies gain access to growing markets in the Middle East, North Africa and Asia. Qatar's strategic location makes it an ideal hub for businesses seeking opportunities in these regions.

4. Simplified Business Registration and Licensing Process

Companies operating under QFC jurisdiction benefit from a one stop shop, for business registration and licensing procedures. This streamlines the setup process. Enables them to start conducting business 

Financial Center Qatar has positioned itself as a hub for finance in the Middle East attracting financial institutions and professional services firms to establish their presence there. The opportunity for tax exemption starting from the 2021 tax year opens up avenues for investors in forming companies in Qatar.

A Guide to Establishing a Business in Qatar Financial Centre

Setting up a company within the Qatar Financial Centre is a process that can be completed within a week. Here is a step by step guide on how to establish your company at the QFC;

Step 1 Define the nature of your Business Venture

The initial step towards launching your business at QFC involves determining the type of enterprise you wish to establish. The Qatar Financial Centre Authority permits types of companies such as liability companies, branch offices and representative offices. It's crucial to select the company structure that aligns with your business requirements.

Step 2 Conduct Market Research

To start operations at QFC it is crucial to conduct market research. This will help you gain insights into the business landscape and assess the demand for your products or services. Through research you can create a defined business plan that will serve as your roadmap for launching and expanding your enterprise.

Step 3 Choose a name for your Business and complete the Registration process

Once you have decided on the type of business you want to establish it's time to select a name for your venture and officially register it with QFC. The registration process can be conveniently done online. Usually takes a week to finalize.

Step 4 Obtain the Licenses and Permits

Depending on the nature of your business there may be licenses and permits required to operate within QFC. Fortunately QFC has simplified its framework making it easier for companies to acquire these licenses and permits. You will need to submit an application form on the Qatar Financial Center Regulatory Authority (QFCRA) website.

Step 5 Set up your Office Space

Once you have registered your business and obtained all the licenses and permits it is essential to establish an office, within QFC premises. QFC offers office spaces tailored for types of businesses.

Step 6 Hiring Employees

When it comes to running your business in the Qatar Financial Centre (QFC) it's essential to have a team of individuals who can help you achieve your goals. Luckily the QFC attracts talent from pools giving you access to a diverse and skilled workforce.

If you're considering starting a business in the Qatar Financial Centre, rest assured that the process is relatively straightforward and can be completed within a week. By following the steps outlined in this article you'll be able to establish your presence within the authority of the Qatar Financial Center and tap into the growing markets of the Middle East, North Africa and Asia. The QFC offers a location with political conditions and a thriving economy making it an excellent choice for entrepreneurs looking to launch their businesses in this region.

Why Choose Us?

At Business Setup Worldwide our main objective is to assist you in kick starting your business venture in Qatar. We prioritize your business objectives. Provide comprehensive guidance throughout every step of the company formation process. Our experienced advisors are here to offer tailored solutions that meet all your needs regarding company formation and documentation requirements, for establishing a business in Qatar. Don't hesitate to reach out to us today for information!

FAQs

What does Qatar Financial Center do?

We invite businesses, ranging from start-ups to large corporations looking to expand in the region, to take advantage of flexible legal and regulatory services, both regulated and unregulated, that adhere to international best practices.

Where is Qatar Financial Centre?

The Qatar Financial Centre (QFC) is an onshore business and financial center in Doha established by Qatari Law No. 7 of 2005.

Who is the CEO of Qatar Financial Center?

In June 2015, Yousuf Mohamed Al-Jaida was appointed Chief Executive Officer of Qatar Financial Centre (QFC).

Is QFC a free zone?

While the Qatar Financial Centre (QFC) is not an offshore center or a free zone (businesses registered with QFC do not need to be located there; they can have offices elsewhere in Doha), it does provide the infrastructure that allows firms in the financial services sector to enter the Qatari market.