Qatar international financial center
The Qatar Financial Centre (QFC) is a purpose built free zone to attract international financial institutions and multi-national corporations to setup business in Qatar. It was established in 2005 to increase the capacity of Qatar’s financial services. Licensed entities can conduct the full spectrum of financial services including i) banking ii) insurance iii) asset management iv) financial advisory services v) securities and derivatives dealing and vi) Islamic finance.
Entities licensed by the QFC are allowed i) to be fully foreign-owned ii) unrestricted repatriation of profits and iii) to choose freely where to locate their operations within Doha.
- QFC regulated activities include activities related to financial services, insurance/reinsurance, asset management, funds administration, funds advisory, pension funds, the provision of credit, brokerage services, financial agency, corporate finance advisory, and custodian services;
- The QFC Authority may also license QFC entities to conduct non-regulated activities, from within the QFC including ship broking, ship agency services, grading services, company administration services, the business of holding companies, the formation, operation and administration of trusts, and professional advisory services (including accounting, audit, tax, consulting, and legal services);
- Profits incurred by QFC licensed entities operating within the QFC are subject to a 10% rate of tax.
- The Centre’s main government entities are i) the QFC Authority (the investment promotion agency) ii) the QFC Regulatory Authority (the financial regulator) iii) the QFC Civil & Commercial Courts and iv) the QFC Regulatory Tribunal;
- Profits incurred by QFC licensed entities operating within the QFC are subject to a 10% rate of tax.One of the QFC Regulatory Authority’s most important roles is to approve and issue Qatar financial services licenses to foreign companies.
- Healy Consultants helps Clients set up companies in the QFC. It is important to obtain the correct licenses for a QFC company and Healy Consultant’s Qatar experts can guide our Clients in this matter.