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  • Part 10: Part 10: Branches

    • Article 45 - Requirement for registered Branch

      (1) A Non-QFC Limited Liability Partnership shall not engage in or carry or purport to carry on any trade or Business activity in or from the QFC unless it is registered as a Branch with the CRO in accordance with Article 46 of these Regulations and shall comply with these Regulations in all other respects.
      (2) A Branch shall:
      (A) appoint and retain at all times a Principal Representative in the QFC who is authorised to accept service of any Document or notice on behalf of the Branch and to undertake any other function as may be prescribed by these Regulations or any subsequent Regulations;
      (B) have a principal place of business in the QFC to which all communications and notices may be addressed; and
      (C) file with the CRO a notice of any change in the details of the:
      (i) persons authorised to accept service;
      (ii) Principal Representative of the Branch;
      (iii) address of the principal place of business in the QFC;
      (iii) restrictions or revocations in the power of attorney, in favour of the person referred to in Article 45(2)(A);
      (iv) constitutional documents of the Non-QFC Limited Liability Partnership; and
      (v) members of the Non-QFC Limited Liability Partnership.
      (3) All documentation required to be submitted to the CRO shall be in the English language, or accompanied by an appropriate translation into the English language.
      Amended by QFCA RM2012-1 (as from 11th April 2012)

    • Article 46 - Application to register a Branch

      (1) A Non-QFC Limited Liability Partnership wishing to establish a Branch in the QFC shall apply to the CRO for prior approval to establish a Branch in the QFC.
      (2) An application by a Non-QFC Limited Liability Partnership for approval to establish a Branch in the QFC shall:
      (A) be made to the CRO in such form and manner as the CRO may require from time to time;
      (B) describe the type of Business activity to be carried on from the Branch;
      (C) state the full address of the principal place of business in the QFC;
      (D) state the full name and address of the person authorised to accept service on behalf of the Branch;
      (E) be accompanied by the following Documents, verified in such manner as the CRO may require:
      (i) a copy of the incorporation documents of the Non-QFC Limited Liability Partnership (including any Limited Liability Partnership Agreement);
      (ii) a copy of the audited accounts of the Non-QFC Limited Liability Partnership for the preceding two years, save where the applicant Non-QFC Limited Liability Partnership has been in existence for less than two years in which case a copy of the most recent audited accounts;
      (iii) a copy of the resolution of the members of the Non-QFC Limited Liability Partnership to establish a Branch in the QFC;
      (iv) a power of attorney in favour of the person referred to in Article 45(2)(A)
      (v) a list of the full name, address, date of birth, nationality and business occupation of each member of the Non-QFC Limited Liability Partnership;
      (vi) a copy of any written approval for the establishment of a branch in the QFC required to be obtained under laws applicable outside of the QFC to the Limited Liability Partnership; and
      (vii) such other Documents or information as the CRO or QFC Authority may in their absolute discretion require from time to time;
      (F) contain or be accompanied by such further particulars, verified in such manner, as the CRO or QFC Authority may require; and
      (G) be accompanied by any Prescribed Fee.
      Amended by QFCA RM2012-1 (as from 11th April 2012)

    • Article 47 - Acceptance or refusal of application to register a Branch

      (1) The CRO may on an application duly made in accordance with Article 46 accept or refuse the application.
      (2) Where the CRO accepts an application under this Article 47, it shall issue to the applicant a certificate of registration of the Branch in the QFC and such certificate shall be admissible in evidence in proceedings under these Regulations without further proof and shall be evidence of the facts certified or specified therein. A certificate of registration shall be conclusive evidence that the Non-QFC Limited Liability Partnership is registered with the name and number specified in it and that the requirements of these Regulations have been complied with in respect of the registration of the Non-QFC Limited Liability Partnership and thereafter no defect in the process prior to the registration thereof shall affect the validity of its registration.
      (3) A decision of the CRO refusing to accept an application to establish a Branch may be reviewed consistent with any applicable standards and procedures issued by the QFC Authority for such purpose.

    • Article 48 - Prohibition of Branch with an undesirable name

      (1) No Branch shall be registered with a name which is the same as or, in the opinion of the CRO, too like a name appearing in the index of names maintained by the CRO or which in the opinion of the CRO is offensive or otherwise undesirable.
      (2) If, in the opinion of the CRO, the name by which a Branch is registered gives so misleading an indication of the nature of its activities as to be likely to cause harm to the public, it may in writing direct the Branch to change its name within such period (being not less than one month) as the CRO may specify.
      (3) Such direction shall be complied with within the period specified in the direction or such longer period as the CRO may allow.

    • Article 49 - Principal Representatives

      Every Branch shall give notice in writing to the CRO of such particulars of its Principal Representative as the CRO may determine.

    • Article 50 - Register of Branches

      (1) The CRO shall maintain a register of Branches which shall include:
      (A) the name of the Branch and, if different, the name of the Non-QFC Limited Liability Partnership;
      (B) the principal place in the QFC from which the Branch engages in or carries on any Business in the QFC and the address of the registered office of the Non-QFC Limited Liability Partnership;
      (C) the Principal Representative of the Branch;
      (D) the persons authorised to accept service;
      (E) the date and place of incorporation of its Non-QFC Limited Liability Partnership;
      (F) the date of registration of the Branch;
      (G) the registered number of the Branch; and
      (H) such other information as the CRO shall determine.
      (2) If any particulars required by Article 50(1) are altered, the Branch shall give notice in writing to the CRO of the particulars of the alteration within 21 days after the alteration is made on the Prescribed Form together with any Prescribed Fee.
      Amended by QFCA RM2012-1 (as from 11th April 2012)

    • Article 51 - Records to be kept by Branches

      (1) Every Branch shall keep proper accounting Records with respect to all sums of money received and expended by the Branch and all sales and purchases of goods and services and other transactions by the Branch and the assets and Liabilities of the Branch. Such Records shall be sufficient to show and explain all transactions by the Branch and must be such as to:
      (A) disclose with reasonable accuracy the financial position of the Branch at any time; and
      (B) enable the Members to ensure that any accounts prepared by the Branch comply with the requirements of these Regulations.
      (2) The Branch's accounting Records shall be:
      (A) kept at the Branch's principal place of business;
      (B) preserved by the Branch for at least six years from the date to which they relate; and
      (C) at all reasonable times open to inspection by Members and the auditor of the relevant Non-QFC Limited Liability Partnership.
      Amended by QFCA RM2012-1 (as from 11th April 2012)

    • Article 52 - Letterheads

      Every Branch shall have the following particulars on all Business letters, written orders for goods or services, invoices and receipts, written demands for payment and other such similar documentation:

      (1) its name which shall include the words " QFC Branch" or "Qatar Financial Centre Branch"; or
      (2) where the Branch name is different to the parent Non-QFC Limited Liability Partnership, the name shall include the words " QFC Branch of [the name of the parent Non-QFC Limited Liability Partnership]";
      (3) the place of incorporation of the parent Non-QFC Limited Liability Partnership; and
      (4) the principal place in the QFC from which the Branch engages in or carries on any Business.

    • Article 53 - Name to appear outside place of Business

      (1) Every Branch shall paint or affix, and keep painted or affixed, its name on the outside of every office or place in which its Business is carried on, in a conspicuous position and in letters easily legible.
      (2) If a Branch does not paint or affix, and keep painted or affixed, its name as required as above, then the Non-QFC Limited Liability Partnership concerned and every Member of it who is in default is in contravention of these Regulations.

    • Article 54 - Financial Penalties

      Where a Non-QFC Limited Liability Partnership fails to comply with any provision of this Part 10 and no other financial penalty is provided in these Regulations, the Non-QFC Limited Liability Partnership, its Members and any person who appears to the Regulatory Tribunal to be in charge of its affairs in the QFC shall be liable if so ordered by the Regulatory Tribunal to pay the financial penalties prescribed by the CRO.

      Amended by QFCA RM2012-1 (as from 11th April 2012)