Latest news with #YousufMohamedAl-Jaida
Yahoo
27-05-2025
- Business
- Yahoo
QFC signs MoU with Ashmore Group to expand Qatar's capital markets
Qatar Financial Centre (QFC) has signed a memorandum of understanding (MoU) with Ashmore Group, an emerging markets asset manager, to support the expansion of the country's capital markets. This strategic partnership is expected to bolster the local asset management sector through knowledge exchange and the development of investment solutions. The collaboration between QFC and Ashmore Group, which manages assets worth $46.2bn, is aligned with Qatar's broader vision of fostering a diversified, knowledge-based economy. A key focus of the agreement is the cultivation of local talent within the financial services industry, which is critical to the nation's long-term development plans. QFC chief executive officer Yousuf Mohamed Al-Jaida emphasised the significance of the partnership, stating, 'Ashmore Group's deep expertise in asset management, combined with the QFC's drive for financial innovation, makes this partnership a strong catalyst for long-term development. 'Through this collaboration, we aim to strengthen Qatar's asset management sector and elevate our capital markets by introducing global best practices and innovative investment solutions.' Ashmore Group CEO Mark Coombs expressed his company's commitment to the region, saying, 'Ashmore has a long history of investing in Qatar and is excited to partner with the QFC to deliver further development in Qatar's financial services industry over the coming years. 'We also look forward to helping raise the profile of Qatar as a destination for international investors, in line with the ambitions of the National Vision 2030.' The MoU marks a continuation of Ashmore Group's engagement in Qatar, following the recent registration of the asset manager under QFC's platform and the inauguration of its new office in the country. The companies expect this move to enhance local investment activity and strengthen Qatar's position as an emerging hub for asset management in the region. The Qatar Financial Centre (QFC), situated in the heart of Doha, serves as an onshore hub for companies seeking to establish and expand their business operations in Qatar and the surrounding region. Last week, Ashmore Group launched an office in Qatar to advise on investment opportunities and foster connections with local investors. "QFC signs MoU with Ashmore Group to expand Qatar's capital markets" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
18-02-2025
- Business
- Zawya
Qatar slashes set-up fees at financial hub by 90%
Qatar has imposed a 90% reduction on business set-up fees for entities looking to operate at the country's financial hub, as part of efforts to lower entry barriers for entrepreneurs. The Qatar Financial Centre (QFC) confirmed on Monday that the application fee for licensing an entity on its platform has been dropped from $5,000 to just $500. The new fee applies to those looking to get a license to conduct non-regulated activities in the QFC, except for Single Family Offices. With the new incentive, Qatar expects to strengthen its position as a major business destination in the region. 'The 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,' said Yousuf Mohamed Al-Jaida, CEO of QFC. An onshore business and financial centre, the QFC has more than 2,400 registered companies. It has its own legal, regulatory, tax and business environment and allows up to 100% foreign ownership. (Writing by Cleofe Maceda; editing by Seban Scaria)
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.
