QFC looks to capitalise focus on wealth management sector

The Qatar Financial Centre (QFC) has strengthened efforts to attract wealth management companies in a big way in view of increasingly mobile high-net-worth individuals across geographies."A prevailing trend we observe is the increasing mobility of high-net-worth individuals across geographic bases. As an organisation committed to establishing Qatar as a premiere commercial and financial hub in alignment with the Qatar National Vision 2030, it is imperative that we capitalise on this phase,” said QFC Authority chief executive officer Yousuf Mohamed al-Jaida.Addressing the gathering "Wealth Management Perspectives: Navigating Challenges & Embracing Solutions”, he said the global economic landscape is undergoing dramatic shifts, presenting both challenges and opportunities for nations, private and government organisations, and businesses.The gathering, hosted by the QFC, brought together industry leaders to explore the complexities and opportunities within wealth management, with a particular focus on family businesses in Qatar.Distinguished speakers from organisations such as the International Union of Muslim Scholars, Charles Russell Speechlys, London, Crowell and Moring, QNB, and QFC shared their expert insights during panel discussions and a fireside chat.They provided valuable perspectives on navigating challenges confronting local family businesses, high-net-worth individual structures and solutions, succession planning and tax and Shariah considerations.QFC offers a diverse range of robust and flexible structures for wealth management, including family offices, holding companies, investment clubs, special purpose companies, foundations, trusts, and limited liability companies.These structures provide essential support, such as limited liability protection, customised asset management solutions, and efficient risk management.Additionally, QFC's business-friendly regulatory framework ensures streamlined processes and competitive tax incentives, making it an attractive ecosystem for wealth managers.