Qatar Financial Centre

Qatar Financial Centre

The Qatar Financial Centre (QFC) is a business and financial hub located in Doha, established in 2005 under Law No. 7 of the State of Qatar. QFC provides a top-notch platform for businesses, offering its legal, regulatory, tax, and business framework, which is aligned with the country’s National Vision 2030’s economic development and diversification goals.

QFC’s extensive range of legal and regulatory services, both regulated and non-regulated, conform to international best practices, allowing domestic and international firms to establish or expand their operations and business setup in Qatar. Businesses can enjoy up to 100% foreign ownership, 100% repatriation of profits, and a competitive corporate tax rate of 10% on locally sourced profits.

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    Document Requirements:

    These are the documents required for business formation in Qatar. Differences may occur depending on the type of corporate structuring, which is below:

    If the shareholder is a Body Corporate incorporated outside Qatar: 

    1. Certificate of Incorporation 
    2. Certificate proving good standing of the Company (if available) 
    3. Memorandum / Articles of Association 
    4. KYC Form of the Company 

     

    If the shareholder is a Body Corporate incorporated in Qatar:  

    1. Commercial Registration issued by the Ministry of Commerce & Industry 
    2. Valid Trade License issued by Ministry of Commerce & Industry 
    3. Articles of Association of the Company 
    4. Copy of a valid Establishment Card 
    5. KYC Form of the Company 

     

    If the shareholder is a Natural Person: 

    1. Valid passport copy of individual shareholder(s) 
    2. KYC Form of shareholder(s). [Notarized OR Signed before QFZA] 
    3. Copy of Qatar Identity. (applicable if the individual is a Qatari National / Resident)

    Required Documents
    For QFC Applications

    Company formation in the Qatar Financial Centre (QFC) may require a different set of requirements.

    Additional Requirements

    • Entities must file annual tax returns. The income tax rate in the QFC is 10% on locally-sourced profits.
    • After securing the business license, companies must also acquire Professional Indemnity Insurance (PII).
    • Businesses set up in the QFC need an annual audit of financial statements.

    General Document Requirements 

    • Proposed QFC company name 
    • Proposed company legal structure (LLC/Branch) 
    • Proposed company activities 
    • Contact person full name 
    • Phone 
    • Email 
    • Passport Nationality of the founder(s)

    Steps and Timelines

    1

    Memorandum of Association (MOA) or Articles of Association (AOA) Drafting – This document outlines a Qatar company’s relevant details and objectives. It is completed with the assistance of a legal advisor, before being submitted to the Ministry of Commerce and Industry (MoCI) and attested by the Ministry of Justice. 

    2

    Company Name Reservation – Company names must comply with Qatar’s naming rules. Once a name is chosen, it’ll be reserved through MoCI.

    3

    Commercial Register Application – Qatar businesses need a Commercial Register (CR) from MoCI to open a corporate bank account, transact with customers, buy or own assets under the company, among others.

    4

    Office Space Securing – Mainland Qatar businesses are required to have a physical office before they apply for a trade license. 

    5

    Tax Certificate Application – Businesses must apply for a Tax Certificate within 30 days of getting the CR, to avoid penalization from the Ministry of Finance. 

    6

    Trade License Application – If business formation is happening in mainland Qatar, the trade license will be obtained for MoCI. Meanwhile, each free zone has an authority that oversees applications. Either way, our business setup advisors will assist.

    7

    Computer Card Registration – Computer Cards are necessary to hire employees and issue Residence Permits, while also indicating who can sign on its behalf. This document is obtained from the Qatar Immigration and Passport Control Office.  

    8

    Corporate Bank Account Opening – Qatar businesses can open a bank account with the many local and international banks in the country. This is a necessary step prior to starting business operations.

    9

    Company Seal Application – Once the above steps are complete, Qatar companies can now get a company seal.

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