Latest news with #RashaKamaleddine
Zawya
20-02-2025
- Business
- Zawya
QFC gears up for Web Summit Qatar with expanded incentives for businesses
Doha – Qatar: Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, is gearing up for the highly anticipated Web Summit. As a key player in Qatar's economic diversification, QFC seeks to engage with global industry leaders, startups, and investors at the summit and showcase its platform not only as a conducive environment for establishing a business but also as a hub for technological advancement. Building on its success at the first Web Summit Qatar in 2024, where QFC registered over 300 firms in just four days, QFC will once again offer exceptional incentives to companies looking to establish or expand their business ventures in Qatar. Companies that choose to register with the QFC during the Web Summit will benefit from waived registration and annual fees for the first four years, along with a tax exemption. In addition, QFC is introducing instant banking services this year, in collaboration with Qatar National Bank (QNB) and Dukhan Bank, enabling potential clients to open corporate accounts seamlessly. This initiative further simplifies the business set-up process, resulting in a faster and more efficient entry into the Qatari market. QFC's participation in the Web Summit reinforces its commitment to supporting business growth and technological innovation in Qatar. By offering attractive incentives and streamlined services, QFC continues to position Qatar as a premier destination for global companies seeking to expand in the region. 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 @QFCAuthority | #QFCMeansBusiness MEDIA CONTACTS QFC Corporate Communications Rasha Kamaleddine | E.
Zawya
17-02-2025
- Business
- Zawya
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 @QFCAuthority | #QFCMeansBusiness MEDIA CONTACT QFC Corporate Communications Rasha Kamaleddine | E.
