Doha, Qatar: Qatar Financial Centre (QFC) has reduced application fees for licensing an entity on its platform from USD 5,000 to USD 500.
QFC, a leading onshore financial and business center in the region, announced in a statement that 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 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, read the statement.
QFC's Chief Executive Officer Yousuf Mohamed Al Jaida said "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 Qatars 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 license 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.
