Meeting comes as part of the QFC’s commitment to further reinforce the strong historical relationship that exists between the UK and Qatar
Qatar Financial Centre (QFC) yesterday welcomed Charles Bowman, Lord Mayor of the City of London, at its premises.
During the visit, the Lord Mayor met with senior QFC representatives, including Sarah al-Dorani, chief marketing & corporate communications officer; Raed al-Emadi, chief commercial officer; and Henk Jan Hoodeendoorn, managing director, Financial Sector Office.
The meeting comes as part of the QFC’s commitment to further reinforce the strong historical relationship that exists between the UK and Qatar and to continue to enhance relations with the City of London.
QFC currently hosts more than 80 British firms on its platform including entities such as Barclays, Clyde & Co, Eversheds and Pinsent Masons.
The UK is the fourth largest exporter to Qatar. In 2016, UK exports to Qatar amounted to nearly QR11.2bn, registering a growth of 21.7% compared to 2014.
The Qatari government also has more than QR140bn in investments in the UK, including stakes in BAA, Sainsbury’s, Barclays, London Stock Exchange, Harrods and The Shard.
In 2017, Qatar announced that it will invest QR23.5bn in the UK economy through various investment funds and relevant parties in Qatar over the next 3-5 years.
Sarah al-Dorani said, “The UK and the City of London are key strategic partners for the QFC and we proudly continue to welcome more British firms to our platform. We were delighted to host The Right Honourable Charles Bowman, Lord Mayor of the City of London at the Qatar Financial Centre. The meeting was very positive and we discussed a number of areas whereby the QFC and the City of London can potentially collaborate on in the near future. We look forward to continuing to work together.”
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% foreign ownership, 100% repatriation of profits, 10% corporate tax on locally sourced profits, and an extensive double tax treaty agreement network with more than 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.
The ESO is fully aligned with the Qatar National Vision 2030 and aspires to promote international best practices in the field of human capital.
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