Qatar Financial Zone (QFC) / Science & Technology Park (QSTP)

Qatar is one of the wealthiest countries in the Middle East with a high per capita income. Despite the economic downturn Qatar achieved economic growth of 9% during 2009. Setting up a company in a Qatar gives entrepreneurs tax incentives along with industry specific technology and infrastructure. Two popular free zones in the Middle East are the Qatar Financial Centre and the Qatar Science and Technology Park.

The Qatar Financial Centre (QFC) is a key authority in Qatar and for the financial sector of the region. The QFC is an important aspect of Qatar's development and economic expansion strategies, many international financial services firms have set up in the Qatar Financial Centre.

The QFC consists of two main sections: i) a commercial arm, called the QFC Authority and ii) an independent financial regulator, called the QFC Regulatory Authority.

Advantages of setting up a company in the Qatar Financial Centre include:

i)

All profits can be remitted outside of Qatar.

ii)

100% foreign ownership is allowed.

iii)

Incorporating in the QFC allows the company to be based in various locations within Doha.

There is a flat rate of taxation of 10% on all taxable profits in the QFC.

Setting up a company in Qatar is not difficult provided all documentation is in order, with Arabic translation. Healy Consultants assists with all aspects of company incorporation in the QFC, including procedures with the Commercial Affairs Department in the Ministry of Commerce.

The Qatar Science and Technology Park (QSTP) is an ideal hub to incorporate well established international technology companies along with entrepreneurial start-ups.

The QSTP is located within the Qatar Foundation's Education City and members include international companies such as Exxon, GE, Shell and Microsoft.

The Qatar Science and Technology Park is a free zone and, hence, offers incentives such as:

i)

100% foreign ownership of incorporated companies,

ii)

No tax,

iii)

Access to the strong Qatar economy,

iv)

Duty-free import of goods and services

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