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Introduction:
Attracting foreign investments is a goal that each and every state in the world is vigorously working hard to achieve. Consequently, and since Qatar is one of the fastest Developing states in the region, the strategy of attracting investments has been adopted by the state which led to bold decisions, measures and procedures.
Qatar Free Zones Authority (QFZA):
Qatar Free Zones Authority (QFZA) was founded in 2018 to develop and manage Qatar’s new free zones. The Authority was constituted by Legislative Decree Number (21) of 2017, as amended by Law Number (34) of 2005. It was established as an autonomous agency in 2018 with the mission of fostering economic growth and establishing a cluster of world-class free zones in Qatar.
Why QFZ?
Companies established in the QFZ have the following advantages:
- No customs charge
- No corporation taxes
- 100 percent foreign ownership
- No individual income taxes.
- Renewable 20-year tax holiday.
Moreover, the QFZA has approved a broad range of activities that entities wishing to establish in the Free Zone may engage in, including logistics and warehousing, industrial products and services, food and beverages and consumer goods, information technology services, leisure and hospitality, professional and business services, and marine activities and services.
For further information in regards with QFZ, our professionals at Alhababi Law Firm are always willing to help and assist.
Author: “Mohammad Mufid” Ratib Qurashi