16 Jul 2017 - 23:28
QFCA new business inflows increase by 41% in H1 2017
The Qatar Financial Centre Authority (QFCA) yesterday announced that there has been a 41 percent increase in new firms that have registered under the QFC Regulatory Authority (QFCRA) for H1 (January-June, 2017) compared to the corresponding period last year (H1,2016).
The newly registered firms come from a wide variety of sectors, including information technology, education and training, events and PR, advisory and consulting.
The bulk of firms that have registered with the QFCA so far in 2017 are from Qatar as well as a vast increase in European firms. There have also been a number of firms from the Middle East and North Africa (Mena) and Asia Pacific regions.
Yousuf Al Jaida (pictured), CEO of the QFC Authority, said: “I am delighted to announce the very positive results we have seen in new firms registering under the QFC. The growth we have seen is due to the hard work our business development team have been managing, this includes attracting firms through self-generated leads, QFC hosted and attended events and networking with our channel partners.”
Yousuf added: “The growth in new firms registering is testament to the QFC platform being the best choice in the Middle East for firms looking to expand their business. I am positive that the second half of 2017 will be just as successful for the QFC as business continues as usual.”
The QFC have in recent months conducted roadshows in Singapore, Hong Kong, London, Manchester and Germany, these events have also helped raise the QFC’s profile to international audiences.
The Qatar Financial Centre (QFC) is an onshore business and financial centre located in Doha, providing an excellent platform for firms to do business in Qatar and the region.
The QFC offers its own legal, regulatory, tax and business environment, which allows 100 percent foreign ownership, 100 percent repatriation of profits, and charges a competitive rate of 10 percent corporate tax on locally sourced profits.