The QFC Law provides for a broad range of permitted activities to be conducted in or from the QFC. These activities fall into two categories: financial services (Regulated Activities), or professional services (Non-Regulated Activities), such as legal or accounting services and related corporate entities such as holding companies.
The conducting of any permitted activities in or from the QFC can only be carried on by entities with a legal presence in the QFC. Legal presence can only be established by incorporating a limited liability company or limited liability partnership with the Companies Registration Office (CRO), or by registering a branch of a non-QFC legal entity with the CRO.
Permitted activities can only be conducted if a licence is granted for those activities by the QFC Authority. The licensing process is intended to ensure that only entities likely to contribute to the achievement of the QFC objectives are given the opportunity to operate within the QFC.
Entities wanting to conduct regulated activities will also require authorisation by the QFC Regulatory Authority.