QFC cuts 90% off application fee to ease business set up in Qatar
Doha – Qatar: Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, has implemented a substantial reduction in the application fee for licensing an entity on its platform, dropping it from USD 5,000 to USD 500. The new fee structure applies to all applicants seeking a license to conduct non-regulated activities in the QFC, except for the activities of Single Family Offices.
The decision to reduce the application fee aligns with QFC's broader strategy to create an optimal environment for businesses of all sizes and reflects a commitment to simplifying business set-up to drive economic growth. By offering a more competitive fee, QFC is making market entry easier for startups, SMEs, and global companies seeking to expand into Qatar's dynamic market.
Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, commented on the reduced fee, stating, 'This significant reduction in our application fee is one of many steps we are taking to make the QFC an even more attractive platform for businesses looking to establish operations in Qatar and the region. We expect this initiative to further enhance Qatar's position as a leading business destination and encourage more entrepreneurs to take the first step towards launching their ventures.'
This pivotal initiative follows the previously implemented company-incorporation process that enables applicants to instantly establish an entity and obtain a licence to conduct non-regulated activities in the QFC, provided they meet the necessary requirements.
As a gateway for businesses to Qatar and the region, QFC continues to invest in strengthening its regulatory framework and support services. The platform offers a wide range of competitive benefits, including an onshore jurisdiction, legal and judicial frameworks based on common law, up to 100% foreign ownership, a competitive and transparent tax system, double taxation agreements with over 80 jurisdictions, a 10% corporate tax on locally sourced profits, 100% repatriation of profits, the freedom to trade in any currency, and a streamlined licensing process.
By lowering financial barriers to entry, QFC is enabling more businesses to establish and operate with ease and confidence in a world-class jurisdiction.
ABOUT THE QATAR FINANCIAL CENTRE
The Qatar Financial Centre (QFC) is an onshore business and financial centre located in Doha, providing an excellent platform for firms to do business in Qatar and the region. The QFC offers its own legal, regulatory, tax and business environment, which allows up to 100% foreign ownership, 100% repatriation of profits, and charges a competitive rate of 10% corporate tax on locally sourced profits. The QFC welcomes a broad range of financial and non-financial services firms.
For more information about the permitted activities and the benefits of setting up in the QFC, please visit www.qfc.qa
@QFCAuthority | #QFCMeansBusiness
MEDIA CONTACT
QFC Corporate Communications
Rasha Kamaleddine | E. r.kamaleddine@qfc.qa
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