The Qatar Financial Centre’s (QFC) plans to broaden its business services by introducing additional tools to streamline its client interfaces is set to attract further foreign investment. These new laws will provide more scope for companies from varied service providers to set up and operate their business within a legal infrastructure that aims to adhere to international standards.
The services will be implemented to encourage the transfer of best practices in its legal system, which is predominantly based on English common law. These include enabling QFC-licensed firms to be listed on the Qatar Stock Exchange, as well as the introduction of Companies Limited by Guarantee, which allows business councils and professional associations to set up within the QFC.
The laws will enable QFC-registered companies to conduct business more freely across the country and ensure better market stability, which in turn will help to attract more international companies and foreign direct investments (FDI) to Qatar.
QFC’s unique features include offering foreign companies 100 percent foreign ownership, unlimited repatriation fees and ability to conduct on-shore business. However, in its role as a ‘change management agent’, the QFC faces the challenge of ensuring a suitable balance between the needs of the local stakeholders with those of foreign companies.
With its pro-business environment, fast-growing economy and geographical proximity to the rest of the world, Qatar presents attractive opportunities for businesses wanting to stimulate their home markets. Links Group applauds the Qatar Financial Centre’s efforts to further diversify the national economy by presenting attractive offerings for businesses that want to capitalise on the region’s opportunities.