QFC reduces application fee by 90% to simplify business setup in Qatar.

The Qatar Financial Centre (QFC) has significantly lowered its application fees for licensing entities on its platform, reducing the cost from USD 5,000 to just USD 500.

QFC, a prominent onshore financial and business hub in the region, announced that this revised fee structure applies to all applicants seeking a license for non-regulated activities in the QFC, excluding Single Family Offices.

This move is part of QFC's broader strategy to foster an ideal environment for businesses of all sizes, reflecting its commitment to simplifying the business setup process to spur economic growth. The reduced fee is designed to ease market entry for startups, SMEs, and global companies looking to expand into Qatar’s vibrant economy.

Yousuf Mohamed Al Jaida, QFC's Chief Executive Officer, commented, "This substantial reduction in our application fee is just one of many initiatives aimed at making QFC an even more appealing platform for businesses wanting to establish a presence in Qatar and the region."

He added, "We anticipate that this move will further strengthen Qatar’s position as a leading business destination and inspire more entrepreneurs to take the first step toward launching their ventures."

This initiative follows the earlier implementation of a streamlined company incorporation process, allowing applicants to quickly establish an entity and obtain a license for non-regulated activities in the QFC, provided they meet the required criteria.

As a gateway for businesses entering Qatar and the wider region, QFC continues to enhance its regulatory framework and support services. The platform offers a range of competitive advantages, including an onshore jurisdiction, a legal and judicial system based on common law, up to 100% foreign ownership, a transparent and attractive tax regime, double taxation agreements with over 80 jurisdictions, a 10% corporate tax on locally sourced profits, 100% profit repatriation, the flexibility to trade in any currency, and an efficient licensing process.

By reducing financial barriers, QFC is enabling businesses to establish themselves easily and confidently in a world-class jurisdiction.