Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, has welcomed the Presidency of the Republic of Turkey’s Finance and Investment Office to its platform.
With this, the number of active Turkish companies on the QFC platform is now 24.
The opening of the office aims to facilitate the spreading and strengthening of economic, business, and investment relations between Qatar and Turkey, improving regional collaboration through QFC’s business infrastructure.
The ceremony was attended by Yousuf Mohamed al-Jaida, chief executive, QFC; Dr Mehmet Mustafa Göksu, Turkey's envoy; Prof Dr Göksel A?an, president, Finance Office of the Presidency of the Republic of Turkey; and Burak Da?l?o?lu, president, Investment Office of the Presidency of the Republic of Turkey.
“The opening of this office comes at an important period in the global economic recovery following the pandemic, with Qatar witnessing tangible growth, primarily powered by the state’s inclusive approach to tackling the various challenges and supporting the business sector," al-Jaida said.
Highlighting that the establishment of this important facility builds on our strong mutual relations; he said Qatar and Turkey have signed a series of valuable agreements in the past, which have effectively paved the way for a multi-faceted collaboration between our two ecosystems.
"This office, and in general our array of partnerships with Turkey, takes QFC a step further in its efforts to forging strong and durable links with flourishing international markets that help support Qatar’s economic diversification," he said.
Through this office, the QFC welcomes the most vibrant and innovative companies from across Turkey to invest in Qatar and work alongside other established Turkish firms and contribute to Qatar’s economy in the long-term, according to him.
Alongside other dignitaries, Sheikha Alanoud bint Hamad al-Thani, deputy chief executive and chief business officer, QFC; Henk J Hoogendoorn, chief of Financial Sector Office, QFC; Abdulla Mohamed al-Hajri, chief operating officer, QFC; and Sarah al-Dorani, chief communications officer, QFC, also attended the opening event.
The QFC currently has over 1,100 registered companies and the platform is an onshore jurisdiction that allows registered companies to 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 taxation avoidance agreement network with 81 countries.