Qatar Financial Centre companies registration office - (CRO). Business registration in the Arab World.

1. //
CRF CONFERENCE – ABU DHABI 2015
QATAR FINANCIAL CENTRE COMPANIES
REGISTRATION OFFICE (CRO)
BUSINESS REGISTRATION IN THE ARAB WORLD

2. //
QATAR – QUICK FACTS
Date of Presentation2
 Population – circa 2m
 3rd largest natural gas reserves in the world – est value of $17 trillion
 GDP per capita in 2013 of just over $100k (ranked first)
 Forbes rank Qatar as the 40th Best country to do business with
 World Economic Forum – 16th most competitive country in the world
 Current mega projects in Qatar valued at close to $200 billion
 Will Host the FIFA 2022 world cup

3. // About the QFC3
THE QATAR FINANCIAL CENTRE (QFC)
• Established by the Government of Qatar in 2005, the QFC has become an integral part
of Qatar’s economy and rapid growth story and is fulfilling its mandate to help build a
world-class business environment in Qatar, providing a platform for domestic, regional
and international growth.
• The QFC comprises five statutory bodies:
– The QFC Authority;
– The QFC Regulatory Authority;
– The Companies Registration Office;
– The QFC Civil and Commercial Court & the Regulatory Tribunal.
• World-class financial and business centre on-shore in the State of Qatar offering a
parallel legal and regulatory infrastructure comparable with international best practice
and standards.
• Based on English Common Law as opposed to the Civil and Sharia Law system in the
State of Qatar.
ABOUT THE QFC

4. //
QFC LEGAL PLATFORM
QFC legal platform4
LEGAL AND TAX
• Manages and maintains
the QFC legal and tax
environment
• Licenses firms to conduct
business in or from the
QFC
• Regulates, authorises and
supervises QFC firms
conducting financial
services
REGULATORY
 QFC Civil And Commercial
Court
 QFC Regulatory Tribunal
 ADR Centre
DISPUTE RESOLUTIONCRO
 Incorporates/Registers
entities
 Maintains public register
 Processes filings from QFC
firms
QFC

5. //
QFC FRAMEWORK
Legal & judicial
framework
• Best-in-class legal environment based on English common law
• International standard Company Regulations (Based on companies Act 2006)
• All laws in English
• Independent courts
Full ownership
Onshore
environment
• QFC allows 100% ownership by foreign companies (Foreign ownership limits in the State of
Qatar require a 51% Qatari partner)
• All profits can be repatriated outside of Qatar
• No minimum capital requirements (State of Qatar has a minimum QAR 200,00)
• QFC firms can target regional and Qatar clients alike
• QFC firms can conduct business in any currency, including Qatari Riyals
• QFC firms can operate from anywhere in Qatar
Ease of setup
• One-stop-shop for licensing, commercial registration, immigration and related services
• Dedicated facilities team to support office setup, range of office premises available
• No restrictions on visas and employment
5 QFC framework

6. //
QFC PERMITTED ACTIVITIES
• Banking
• Insurance/Reinsurance
• Asset Management
• Islamic Finance
• Fiduciary Businesses
• Captive Insurance
• Captive Management
Regulated Activities Non-Regulated Activities
6
• Licence (QFC Authority)
• Incorporation/Registration (CRO)
Holding Companies Management Offices
IT
Special Purpose
Companies
Company Headquarters
Single Family OfficesTrust Services
Treasury Operations
• Authorisation (QFCRA)
• Licence (QFC Authority)
• Incorporation/Registration (CRO)
QFC permitted activities
Professional Services:
Legal Audit / Accounting
Consultancy HR Recruitment
Public relations Media

7. //
QFC REGISTRATION PROCESS
Business Development
Team
Licensing & Company
Registration Team
Strategic Fit Assessment
Licensing &
Incorporation/Registration
• Evaluate firm’s value
proposition for Qatar and fit
with QFC mandate
Licensed &
Incorporated
/Registered
Ready to do
business
• Licensing
Conduct detailed evaluation
of proposed QFC business
including fitness and
propriety
• CRO
Incorporate/Register
entities within the QFC
7
• Approximate time for licensing and incorporation/registration is 2-4 weeks
• CRO has incorporated firms within ½ business day
QFC registration process

8. //
TYPES OF LEGAL ENTITIES AVAILABLE IN THE QFC
8
 Limited Liability Companies (LLC’s)
 Limited Liability Companies (LLC’s)
 Limited Liability Partnerships (LLP’s)
 Branches of Non-QFC Companies
 Branches of Non-QFC Limited Liability Partnerships
 Limited Partnerships
 General Partnerships
 Companies Limited by Guarantee (LLC(G)) (soon to be enacted)
Legal
Entities
Other
Functions
 Initial Registration and maintenance of register of Insolvency Practitioners
 Initial Registration and maintenance of register of Approved Auditors
 Registration / Register of Financing Statements (Securities Register)
OTHER CRO FUNCTIONS
Types of legal entities available in the QFC

9. //
CHALLENGES FACED BY THE CRO
Challenges faced by the CRO9
• SYSTEMS / PROCESS
• Historically all applications and filings are only excepted in
hard copy originals – Time consuming and resource heavy.
• Manual processes mean there are issues relating to
integrity of Data and potential for human error.
• AWARENESS OF CRO REQUIREMENTS
• CRO operates within a legal framework of international
standard, including a transparent and searchable Public
Register.
• Regionally corporate information held by registries is either
not required or can be hard to access.
• This results in some firms being unfamiliar with the CRO
filing requirements.
• PUBLIC INFORMATION
• Consequently, the challenge the CRO faces is in relation to
maintaining its public register with up to date information.
• This is particularly the case with ‘event driven’ filings and
firms knowing when to file. Because of the differing filing
requirements in many regional registries many firms are
not aware of differing requirements.

10. //
OVERCOMING THE CHALLENGES
Compliance – On time filings10
64%
79%
90%
98%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2012 2013 2014 2015 YTD
SYSTEMS / PROCESS
• Currently in the final stages of implementing a
comprehensive integrated ERP system
• Will bring with it Online registration and filing
PUBLIC INFORMATION
• Amended the Companies / LLP Regulations to allow late
filing penalties for late submissions of day to day filings.
• Holding regular “Town Hall” presentations for QFC firms
on compliance requirements
• Preparing in-depth help guides for firms covering all the
main filings required
• Highlighting the value of the information in the public
register - Adopting a “Help us to help you” philosophy.
Underlining to firms the added value to their business of
up-to-date information - better information drives
informed decision making

11. // June 201411
THANK YOU
SHUKRAN