An Introduction to the QFC
As one of the world's leading exporters of liquefied natural gas, Qatar is one of the fastest growing economies in the world. Its economy is expected to grow by 4 to 4.5% in 2016 despite the oil price plunge. It has the world's highest GDP per capita, at well over US$100,000, strong population growth, a solid credit rating and it has achieved budget surpluses for many years.
Qatar is using its wealth and large revenues from oil and gas to enhance long-term developments in other economic sectors, in accordance with Qatar's National Vision 2030. Qatar's National Vision 2030 sets out the state's long-term economic, social, human and environmental development goals.
In an effort to attract foreign investment into Qatar, the Qatar Government has passed laws to create a favourable business environment for foreign investors. Amongst these is Law No. 7 of 2005 creating the Qatar Financial Centre (QFC Law).
What is the QFC?
The Qatar Financial Centre (QFC) is a business and financial centre located in Doha. It was established by virtue of the QFC Law as amended), with the aims of enhancing growth and diversification of Qatar's economy, and providing an attractive platform for firms to establish and do business in Qatar and the region. The 010 provides a transparent environment and offers flexibility to conduct business, inside or outside Qatar.
The QFC was first set up to offer domestic and international firms the
opportunity to establish and provide a broad range of financial services
related to banking, asset management and insurance businesses. In