QFC and QSTP Streamline Business Setup in Qatar with Workflow Agreement

Qatar, 6 June, 2024 : The Qatar Financial Centre Authority (QFCA), representing the Qatar Financial Centre (QFC), has inked a Workflow Agreement with Qatar Science & Technology Park (QSTP), a Qatar Foundation (QF) member, to facilitate business registration in Qatar.

Under this agreement, all legal entities currently registered in the QSTP free zone will transition to the QFC’s regulatory framework. Going forward, the QFC will oversee the registration and licensing of QSTP entities, providing essential services such as customer support, dispute resolution, judicial system assistance, liquidation, Ministry of Interior services, tax compliance and incentives, as well as visa and immigration support.

Additionally, both parties will collaborate on initiatives and activities within their respective events and outreach programs. They will also assess proposals for joint projects aimed at mutual development and the promotion of their products and services.

Yousuf Mohamed Al-Jaida, CEO of QFC, expressed excitement about the partnership, emphasizing its role in simplifying business setup in Qatar and fostering a supportive environment for various sectors, particularly tech enterprises, to drive innovation and growth.

Dr. Jack Lau, President of QSTP, highlighted the agreement's significance in enhancing Qatar's tech innovation and entrepreneurship landscape. He emphasized the importance of providing efficient and seamless experiences for tech-based entities and promising entrepreneurs, aligning with Qatar's vision of talent transformation.

This Workflow Agreement underscores QFC and QSTP's commitment to supporting economic diversification and growth by offering extensive assistance to established and emerging companies seeking to establish themselves in Qatar.

Source : www.qfc.qa