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Tribune News Network
Doha
The Qatar Financial Centre (QFC), one of the world's leading and fastest growing onshore business and financial centres, participated in the third Qatar Business Law Forum & Awards, which was hosted by LexisNexis in partnership with the Department of Legal Affairs at the Ministry of Commerce and Industry, Qatar University's College of Law and the Association of Corporate Counsel (ACC) Middle East.
During the forum, QFC CEO Yousuf Mohamed al Jaida made a presentation titled 'Qatar Business Climate and the Role of the QFC Platform', focusing on Qatar's economic development, the QFC's role in strengthening the economy, and the many unique benefits offered by the QFC platform.
Moderated by Al-Sulaiti Law Firm Chairman Mubarak al Sulaiti, other panel speakers included Thani Bin Ali Al-Thani Law Firm Founder Sheikh Thani bin Ali al Thani, Qatar University Assistant Professor Dr Yassin El Shazly and Al-Sulaiti Law Firm Senior Legal Consultant and General Manager Hussam Tantawy.
Another key highlight of the event was the signing of a memorandum of understanding (MoU) between the QFC and LexisNexis, a leading global provider of legal, regulatory and business information and analytics.
The agreement promotes mutual collaboration on a number of key areas, including providing firms licensed on the QFC platform with special advantages within the LexisNexis range of services, including free trial access to certain services, discounted subscriptions, and a number of other benefits.
Speaking on the occasion, Jaida said,"The Qatar Business Law Forum & Awards provides a valuable platform for QFC to join other key decision makers to discuss key legal matters that impact the local business environment. Our participation in the event serves as an indicator of the economic importance of the QFC platform and its contribution to supporting business set-up and growth."
The QFC is an onshore jurisdiction, allowing companies to operate in and from Qatar within the QFC legal and tax environment. The QFC endeavours to promote Qatar as an attractive business destination. Companies that wish to establish a business in the QFC are guided throughout by a dedicated QFC relationship manager who assists in the process of obtaining a licence and offers support in matters related to operating a business in Qatar.
QFC firms enjoy competitive benefits, such as working within a legal environment based on English common law, the right to trade in any currency, up to 100 percent foreign ownership, 100 percent repatriation of profits, 10 percent corporate tax on locally sourced profits, and an extensive double tax treaty agreement network with 60+ countries.
In addition, the independent Employment Standards Office of the QFC embodies a unique Administrative Employment Dispute Resolution Centre accredited by the International Labour Organisation (ILO), providing conciliation and adjudication services free of charge to help resolve workplace conflicts.
