Qatar Free Zones
Qatar like many other Middle Eastern countries also wants to facilitate the level of business activity happening here. It is a country that offers many great business opportunities for entrepreneurs from around the world. Even some of the world’s leading investment companies take a deep interest in Qatar. Qatar ranks among the top 40 countries of the world where there are ample opportunities to grow as an entrepreneur.
If you are an entrepreneur, industrialist, investor, or a business person in general, you will find Qatar to be very welcoming like many other countries around it. The addition of free zones further adds to the favorable options that you can use to start your business.
Let us have a look at the free zones in Qatar.
1. QFC (Qatar Financial Centre)
2. QSTP (Qatar Science and Technology Park)
The purpose of establishing these free zones in Qatar is to let the industries and businesses focus on growth, providing them the infrastructure and support to expand to an international level.
1. Qatar Financial Centre
Qatar is one of the leading countries that supports the finance function. Qatar Financial Centre is a completely free zone that focuses on the field of finance. QFC came into being back in 2005 from Doha. You can get legal support and all the infrastructure assistance you need for providing financial services.
Money management in the emerging markets gets the legal framework and support from work done in QFC. The free zone has its limitations and also supports non-regulated activities. Some of the finance-related activities that businesses can carry out in Qatar Financial Centre include.
- Advice on Investment
- Asset Management
- Insurance and Re-Insurance
- Islamic Finance
2. Qatar Science and Technology Park
QSTP or Qatar Science and Technology Park is in Qatar’s Foundation Education City. QSTP was established back in 2009 and facilitates the presence of technology-based firms in Qatar. QSTP offers many great incentives to help businesses grow. It houses some of the top world’s IT firms recognized globally including GE, Shell, and Microsoft. Activities that businesses can carry out in Qatar Science and Technology Park include
- Research and development
- Development of new technologies
- Education and Training
- Development of new business
As we can see from the above details, QSTP is a free zone that focuses on technology to give an emerging platform to business entities. Let us have a look at the next free zone.
The above two free zones in Qatar offer business industries a gateway to start their ventures related to Finance and Technology in the country. Businesses entities can use these two amazing business platforms in Qatar Science and Technology Park to expand their business to maintain an effective global presence. If you are about to set up a company in Qatar that falls in the domains discussed above, you need to consider the right free zone in Qatar to establish your venture.
Let us have a look at some of the reasons why a lot of companies choose to establish their businesses in Qatar Free Zones.
Advantages of Setting Up a Company in Free Zone Qatar
These are the ways you can benefit your entrepreneurial presence in Qatar, within the free zones.
- Enjoy 100% ownership
- Get an office in a strategically located country
- You get to repatriate 100% of your investments and profits
- Only pay 10% of the corporate tax
- No currency restrictions to abide by
- Easily get access to the residence via
- World-class IT and communication structure
- Choose from a variety of different licensable business activity options
- Form a legal entity within a transparent regulatory and legal framework
Now that you know how establishing a business in a Qatari-free zone helps, let us quickly through the steps you need to take to understand the documentation process.
- Complete information about your company
- A business plan that details the commercial activities you intend to carry out
- Research plans that you need to submit to QSTP
- A bank statement to show your financial worthiness to carry out the business activities you intend to
- ID proofs of the business’s shareholders
If you are looking for external auditing services of your business registered in Qatar free zones (QSTP – Qatar Science and Technology Park or QFC – Qatar Financial Centre), get in touch with BookkeepingQatar.com at info[at]bookkeepingqatar.com or call us at +974 5090 5844.