The Qatar Financial Centre (QFC), a leading onshore financial and business hub in the region, has announced a substantial reduction in its application fees for licensing entities on its platform. The fee has been lowered from USD 5,000 to a more competitive USD 500, applicable to all applicants seeking licenses for non-regulated activities within the QFC (excluding Single Family Offices).
This move aligns with QFC’s strategic focus on fostering a business-friendly environment for companies of all sizes. By simplifying the setup process and reducing financial barriers, QFC aims to attract more startups, SMEs, and global corporations looking to expand their operations in Qatar.
Workinton Qatar, with its branches in West Bay, Lusail, and Msheireb, all operating under the QFC jurisdiction provides an ideal platform for businesses to leverage in this benefit. Companies can seamlessly register their businesses through Private Desk and Serviced Office models, offering a streamlined and efficient solution for launching their startups, expanding SMEs, and establishing a global presence in Qatar.
The recent fee reduction complements QFC’s existing streamlined company incorporation process, enabling eligible applicants to quickly establish entities and obtain licenses for non-regulated activities.
Key Benefits of Establishing a Business in the QFC:
- Onshore Jurisdiction: Operate within a well-established and reputable financial center.
- Legal and Judicial Frameworks: Benefit from common law principles and a robust legal system.
- 100% Foreign Ownership: Maintain full ownership and control of your business.
- Competitive Tax System: Enjoy a 10% corporate tax on locally sourced profits and 100% profit repatriation.
- Streamlined Licensing Process: Experience a smooth and efficient process for obtaining necessary licenses and approvals.
By lowering financial barriers and simplifying the setup process, QFC continues to strengthen its position as a leading business hub, empowering businesses to thrive and contribute to the economic growth of Qatar.
Source: http://qfc.qa/en/media-centre/news/list/qfc-application-fee-reduction-prl
