The Qatar Financial Centre (QFC) has announced a significant reduction in its application fee for licensing entities, slashing it from USD 5,000 to just USD 500. This new fee structure applies to all applicants aiming to conduct non-regulated activities within the QFC, with the exception of Single Family Offices.

This decision is part of QFC’s strategy to foster a business-friendly environment and simplify the process for companies of all sizes wanting to enter the Qatari market. The reduced fee is expected to make it easier for startups, small and medium enterprises (SMEs), as well as global firms to establish operations in Qatar.

Yousuf Mohamed Al-Jaida, Chief Executive Officer of QFC, expressed that the substantial fee reduction is among several measures being implemented to make the QFC a more appealing platform for businesses. He emphasized that this initiative is anticipated to bolster Qatar’s reputation as a prime business destination and motivate more entrepreneurs to pursue their ventures.

The new fee structure complements the recent changes to the company incorporation process, which allows applicants to quickly establish an entity and secure a license for non-regulated activities within the QFC, given they meet the necessary criteria.

QFC aims to strengthen its regulatory framework and support services as a gateway for businesses entering Qatar and the wider region. The QFC offers various competitive advantages, including an onshore jurisdiction, a common law-based legal framework, and the possibility of 100% foreign ownership. Moreover, it has a transparent tax system with a corporate tax rate of 10% on locally sourced profits and allows for the full repatriation of profits.

By lowering financial barriers, QFC is encouraging more businesses to confidently set up and operate in a world-class jurisdiction, thus fostering economic growth in Qatar.