• Part 8: Part 8: Branches

    • Article 75 - Requirement for registered Branch

      (1) A Non-QFC 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 76 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) Address of the principal place of Business in the QFC;
      (iii) any restrictions or revocations in the power of attorney, in favour of the person referred to in Article 75(2)(A);
      (iv) incorporation Documents, if any, of the Non-QFC Partnership; and
      (v) Partners of the Non-QFC 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.

    • Article 76 - Application to establish a Branch

      (1) A Non-QFC 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 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 if any of the Non-QFC Partnership (including any Partnership Agreement);
      (ii) a copy of the audited accounts of the Non-QFC Partnership for the preceding two years, save where the applicant 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 Partners of the Non-QFC Partnership to establish a Branch in the QFC;
      (iv) a power of attorney in favour of the person referred to in Article 75(2)(A);
      (v) a list of the full Name, Address, date of birth, nationality and Business occupation of each Partner of the Non-QFC 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 Non-QFC 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.

    • Article 77 - Acceptance or refusal of application to register a Branch

      (1) The CRO may on an application duly made in accordance with Article 76 accept or refuse the application.
      (2) Where the CRO accepts an application under this Article 77, 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 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 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 78 - 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 79 - Principal Representatives

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

    • Article 80 - 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 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 Partnership;
      (C) the Principal Representative of the Branch;
      (D) the date and place of incorporation of its Non-QFC Partnership;
      (E) the date of registration of the Branch;
      (F) the registered number of the Branch; and
      (G) such other information as the CRO shall determine.
      (2) If any particulars required by Article 80(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.

    • Article 81 - Records to be kept by Branches

      (1) Every Branch shal! 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 directors 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 directors and auditor of the relevant Non-QFC Partnership.

    • Article 82 - 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 Partnership, the Name shall include the words "QFC Branch of [the Name of the parent Non- QFC Partnership]";
      (3) the place of incorporation of the parent Non-QFC Partnership; and
      (4) the principal place in the QFC from which the Branch engages in or carries on any Business.

    • Article 83 - 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 Partnership concerned and every Partner of it who is in default is in contravention of these Regulations.

    • Article 84 - Financial penalties

      (1) Where a Non-QFC Partnership fails to comply with any provision of this Part 8 and no other financial penalty is provided in these Regulations, the Non-QFC Partnership, its Partners and any person who appears to the Tribunal to be in charge of its affairs in the QFC shall be liable if so ordered by the Tribunal to pay the financial penalties prescribed by the CRO.