Legislation is the collective term for laws, regulations and rules. In the context of the QFC Regulatory Authority, legislation consists of the Constitution of the State of Qatar, the Qatar Central Bank Law, the Qatar Financial Centre Law, and the QFC Regulations and Rules.
The QFC operates to international standards and provides a first class legal and business infrastructure for those doing business in or from the QFC. The QFC’s commercial and regulatory environment conform to international best practices and are separate from and independent of the State of Qatar. The Legislative Counsel department is responsible for developing the regulatory and legislative regime of the QFC Regulatory Authority through the drafting of rules, regulations, guidance and other legislative instruments.
Hierarchy of Legislation in the QFC
The QFC Law (Law No. 7 of 2005) was signed by the Emir of the State of Qatar on 9 March 2005 and became effective on 1 May 2005. The QFC Law (as amended by Law No. 2 of 2009 and Law No. 14 of 2009) provides for the basic structure of the QFC and establishes the QFC Authority, the QFC Regulatory Authority, the Qatar International Court and Dispute Resolution Centre.
For the text of the Law, click here.
QFC Regulations establish the legal framework including legal and business infrastructure for those doing business in the QFC. The QFC Authority Regulations enacted under the QFC Law are the primary regulations which define the role and function of the QFC Authority.
For the text of the QFC Regulations, click here.
The QFC Regulatory Authority has the power to make rules that are necessary or appropriate to achieve its regulatory objectives.
For the text of the QFC Regulatory Authority Rules, click here.
The QFCA Rules contain the rules made, and guidance issued, by the QFC Authority about companies, data protection, limited liability partnership and tax.
For the text of the QFCA, click here.
For Application, General, Data Protection, Prudential and AML/CLT forms, click here.