Qatar encourages business investments within the private sector with new QFC office

To further enhance the labour sector within the country, the Ministry of Labour has partnered with the Qatar Financial Center to open a representative office in QFC. This should allow both parties to offer valuable support to investors across businesses, as well as to help speed up the business processes in the State.

The services that the office will provide include managing work permits among others, as well as updating data and facilitating work visa approvals. It will also handle the issuance of new company accounts, along with changing employers and its corresponding notice period.

According to Assistant Undersecretary for Migrant Labor Affairs at the Ministry of Labor Sheikha Najwa bint Abdulrahman Al-Thani, this kind of facilitation and modernisation of services is in line with the Qatar National Vision 2030. There are two paths to the enhancement of the MoL’s services, which include the digital transformation of processes and services in external offices.

With this new office, the Ministry can boost its efforts within the private sector to ease processes for business owners. This new office should also assist in showcasing the Qatar Financial Center’s efforts to encourage investments both locally and abroad. Foreign investments aside, business opportunities will also flourish thanks to the facilities within the centre.

As for the Qatar Financial Center, registered companies can take advantage of perks such as up to 100% foreign ownership and 100% repatriation of profits. There’s also a competitive 10% corporate tax when it comes to profits that are locally sourced.

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