In a 31 July 2018 statement, Qatar Financial Centre (QFC) reported that Qatar is attracting and bringing in 69% more international firms from all over the world compared to last year:
The Qatar Financial Centre (QFC) announced a 69% increase in new firms registered under the QFC during H1 (1st January to 30th June 2018) compared to H1 in 2017. The total number of firms on the QFC platform was recorded as 532 firms.
As well as Qatari firms, the majority of new firms joining the QFC platform have come from Europe, India and Pakistan. There has also been a number of firms joining from the USA and MENA regions.
The growth of new companies represents a diverse collection of industries:
The newly registered firms come from a wide variety of sectors including information technology, advisory and consulting, advertising and marketing, legal services and investment clubs.
According to QFC’s Chief Executive Officer, QFC is an attractive platform for international firms and provides many opportunities within the Qatari market:
Yousuf Mohammed Al-Jaida said: “With the recent announcement that Qatar’s GDP has grown 1.4% in the first quarter of 2018, compared to the same period in 2017, and the country’s commitment to open up to foreign investors, Qatar is continuing to prosper and it is no wonder that international businesses are keen to explore the array of opportunities available
QFC’s is committed to promoting Qatar as a lucrative business hub and opening up to foreign investors by providing them with assistance and benefits:
Companies that wish to establish a business in the QFC are guided throughout the process by a dedicated QFC relationship manager.
Firms enjoy competitive benefits, such as operating within a legal environment based on English common law, the right to trade in any currency, 100% foreign ownership, 100% repatriation of profits, 10% corporate tax on locally sourced profits, and an extensive double tax treaty agreement network with 60+ countries.