Doha: Qatar Financial Centre (QFC) has announced exceptional incentives to companies looking to establish or expand their business ventures in Qatar. These incentives will be offered during the Web Summit Qatar 2025, which will be hosted by Doha next Sunday for four days. These incentives are inspired by the notable success of the QFC during the first edition of the summit, where it registered over 300 firms in just four days.
According to Qatar News Agency, the Centre said in a statement that companies that choose to register with the QFC during the Web Summit will benefit from waived registration and annual fees for the first four years, along with a tax exemption. In addition, QFC is introducing instant banking services this year, in collaboration with Qatar National Bank (QNB) and Dukhan Bank, enabling potential clients to open corporate accounts seamlessly. This initiative further simplifies the business set-up process, resulting in a faster and more efficient entry into the Qatari market.
QFC's participation in the Web Summit reinforces its commitment to supporting business growth and technological innovation in Qatar. By offering attractive incentives and streamlined services, QFC continues to position Qatar as a premier destination for global companies seeking to expand in the region.
QFC, as a key player in Qatar's economic diversification, seeks to engage with global industry leaders, startups, and investors at the summit and showcase its platform not only as a conducive environment for establishing a business but also as a hub for technological advancement.
The Web Summit, which was hosted by Qatar for the first time last year, is an important event for entrepreneurs, investors, and leaders and experts in the technology sector from around the world. Doha is hosting it as part of a five-year partnership within the framework of Qatar Third National Development Strategy, which aims to support the technological business ecosystem in the country by launching quality initiatives, providing incentives for the development of advanced technologies, and enhancing investments in the information and communications technology (ICT) sector, all contributing to diversifying the national economy.
The first edition of the Qatar Web Summit set several records, including the largest participation of startups in a global event in its inaugural edition, with 1,100 companies, along with unprecedented attendance from startups from Africa. This year's edition is expected to exceed the figures recorded at last year's summit.
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 up to 100 percent foreign ownership, 100% repatriation of profits, and charges a competitive rate of 10 percent corporate tax on locally sourced profits.