Business opportunities

Qatar is aiming to become a role model for economic and social transformation in the region. Large scale investment in all social and economic sectors will also lead to the development of a strong financial market. These investments will grow Qatar's GDP, lay a strong foundation for a regional capital market, develop world class human resources and provide top-tier services to institutions and individuals.

Development of the financial market and financial services sector will be driven by the QFC, which provides financial institutions with a world class financial services platform situated in an economy founded on the development of its hydrocarbons resources. It has been created with a long term perspective to support the development of Qatar and the wider region, develop local and regional markets, and strengthen the links between the energy based economies and global financial markets.

The Qatari financial market and financial services sector will continue to develop rapidly over the next few years, driven by large-scale investment. Apart from Qatar itself, which needs to raise the capacity of its financial services to support more than $130 billion worth of projects, the QFC also provides a conduit for financial services providers to access nearly $1 trillion of investment in the rapidly growing financial markets across the GCC as a whole over the next decade.

Doing Business in the QFC

The Qatar Financial Centre ("QFC") was established in 2005. It aims to provide a financial and business centre in Doha to attract international financial services institutions and multi-national corporations wishing to participate in Qatar’s rapidly growing economy as well as a platform to provide services elsewhere in the MENA region. The QFC is currently a tax free zone. Any entity established in the QFC are free from any liability to tax for a period of three years commencing on the coming into force of the QFC Law No. 7 of 2005. This period ends in April 2008 and thereafter the Minister of Economy & Commerce will have the power to impose taxes or duties on QFC entities.
For a report by Clifford Chance on Doing Business in the QFC, click here