What is the role of the Qatar Financial Centre?

What is the role of the Qatar Financial Centre?

With one of the fastest developing economies in the world, Qatar is an investment powerhouse for top conglomerates looking for competitive economies to thrive in. The country is consistently striving to be at the forefront of communications, technology, and continuous innovation, especially as it spearheads multiple impressive efforts toward its Qatar National Vision 2030 objectives.

That said, the government’s answer to the further development of Qatar’s infrastructure, growing population, and ever-enhancing economy is the Qatar Financial Centre—a multi-billion dollar investment programme and one of the fastest growing onshore investment centres in the world.

Located in Doha’s brand new Financial District, Msheireb, the Qatar Financial Centre (QFC) boasts of an integrated modern working lifestyle space that seamlessly marries futuristic aesthetics with traditional Qatari cultural heritage. This international business hub takes pride in its ability to further assist all kinds of businesses in flourishing to cater an increasingly interconnected world. From technological advancements to sustainable developments in all fields, the QFC’s competitive edge knows no bounds.

Setting up businesses

Apart from the affordable yet modern office spaces with state-of-the-art facilities that are conducive to productivity and efficiency, the QFC also offers start-ups and all types of entrepreneurs legal, regulatory, tax, and business infrastructure assistance. Among the advantages of setting up a business in the QFC include 10% corporate tax on locally-sourced profits, the ability to trade in any currency, up to 100% foreign ownership, and 100% repatriation of profits. The legal environment is based on English common law, and all businesses will be provided with a stress-free and transparent company registration and licensing process in this attractive business environment. As accredited by the International Labour Organization (ILO), the QFC also has its own unique Administrative Employment Dispute Resolution Centre , as well as a wide interconnected network of extensive DTA with more than 60 countries worldwide.

To set up a business in the Qatar Financial Centre, interested parties must simply submit an application online and a dedicated relationship manager will respond to the request with the utmost diligence and professionalism. The process of registering, obtaining a license, and starting with operations will be streamlined and hassle-free.

Of taxes and other matters

To specify, an internationally aligned and highly compelling tax environment awaits all interested entrepreneurs. Benefits of the QFC tax regime include tax exemptions for dividends, qualifying activities, and capital gains, as well as a corporation tax rate of 10%. There will also be no withholding tax on payments out of Qatar. There is no greater time than now to seize opportunities in the region, all while ensuring that all documentation, attestation, and translations undergo due processes and are properly filed and submitted or prepared for future reference.

As such, all these and more make foreign investments in the QFC as lucrative as ever. With the Qatar Financial Centre as a business partner, any entrepreneur can easily expand services and broaden horizons in the country toward a better, more enriched, and more profitable future.

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Afreno is a Business Consultancy that draws on its long presence, over 10 years in fact, in the field of forming companies, while capitalizing on its impressive know-how at both local and international levels. This endeavor also extends to developing local partnerships and offering excellent opportunities in real estate.

Unlike any other Business Consultancy company in the State of Qatar, Afreno includes under its umbrella three closely-linked comprehensive services: business advice, legal negotiation and real estate possibilities. This means that any project, however complex, can be dealt with in all its aspects. Added to this is our wide range of reliable clients and trusted business contacts, plus our up to the minute awareness of what is going on in the markets, whether GCC or local. Your business venture will be backed by our in-depth knowledge, the valuable connections we have built over time, and our solid reputation, ensuring that you succeed quickly, whatever enterprise you are involved in. All this will be achieved with the minimum of stress; unsurprisingly Afreno has become the point of reference for anyone wishing to incorporate or grow their business in the local market.

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