QFC Officials Discuss Strengthening Cooperation with Lord Mayor of the City of London

Doha, September 20 (QNA) - Qatar Financial Centre (QFC) officials discussed with HE Lord Mayor of the City of London Charles Bowman the means to promote cooperation especially in doing business in the State of Qatar. The meeting took place during the visit of the HE the Lord Mayor and his accompanying delegation to the premises of QFC. Senior officials from QFC, one of the world's leading and fastest growing onshore business and financial center, met with His Excellency and his accompanying delegation to discuss a number of available fields of cooperation between the center and London in the near future. The meeting comes as part of the QFC's commitment to further reinforce the strong historical relationships that exist between the UK and Qatar and to continue to enhance relations with the City of London. The QFC currently hosts over 80 British firms on its platform, where UK is the fourth largest exporter to Qatar. In 2016, UK exports to Qatar amounted to nearly QAR 11.2 billion registering a growth of 21.7 percent compared to 2014. QFC seeks to promote the State of Qatar as an attractive and rewarding destination for companies that look forward to expand its operations in the Middle East, and to benefit from the available opportunities in the country. 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 license 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 percent foreign ownership, 100 percent repatriation of profits, 10 percent corporate tax on locally sourced profits, and an extensive double tax treaty agreement network with 60+ countries. In addition, the independent Employment Standards Office of the QFC embodies a unique Administrative Employment Dispute Resolution Centre accredited by the International Labor Organization (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. (QNA)