Jordanian Firms in QFC Report 5.2% Growth in Q3 of 2024

Licensed Jordanian companies operating under the Qatar Financial Centre (QFC) recorded a growth of 5.2% by the end of the third quarter of 2024. According to data from the QFC website, the number of Jordanian companies conducting business from the QFC platform rose to 121, compared to 115 companies during the same period in 2023. The activities of Jordanian enterprises under the QFC umbrella span various economic sectors, with a significant focus on services, financial technology, banking, asset management, investment, information technology, hospitality, professional and administrative services, public services, trade, import and export, artificial intelligence, small industries, and corporate solutions. Jordanian firms registered with the QFC enjoy a strong presence and continuous growth, positioning Jordan as the leading Arab country in terms of the number of companies operating under the QFC, after Qatar. The QFC is one of the largest financial and commercial centers in the Middle East and North Afric a. It provides Jordanian companies with a high-level platform that facilitates the establishment, management, and expansion of their operations in Qatar and beyond. Jordanian and other QFC companies benefit from a wide range of incentives, including 100% foreign ownership, a single electronic platform for licensing, commercial registration, visas, and permits, a competitive corporate tax rate of 10% on profits from local sources, and a favorable tax environment supported by double taxation agreements. Additionally, companies can transfer profits abroad without tax, operate in a transparent environment, and access a dedicated administrative dispute resolution center accredited by the International Labour Organization, along with the ability to trade in any currency and streamlined visa and employment procedures. Currently, the QFC manages assets exceeding 120 billion Qatari riyals (approximately $33 billion). The QFC platform hosts around 2,000 local and international companies operating in various financi al and commercial sectors, employing over 12,000 individuals. These companies engage in diverse activities, including health, education, investment, media, sports, retail, logistics, as well as digital services, financing, real estate, and energy. Source: Jordan News Agency