Part 4: Activities in the QFC under the QFC Law

1. Permitted activities within the QFC

1.1 The QFC Law provides that no activities other than Permitted Activities may be carried on in the QFC.
1.2 The following are the Permitted Activities itemised in the QFC Law:
(1) financial business, banking business of whatever nature, and investment business, including (without limit) all business activities that are customarily provided by investment, corporate and wholesale financing banks, as well as Islamic and electronic banking business;
(2) insurance and reinsurance business of all categories;
(3) money market, stock exchange and commodity market business of all categories, including trading in and dealing in precious metals, stocks, bonds, securities, and other financial activities derived therefrom, or associated therewith;
(4) money and asset management business, investment fund business, the provision of project finance and corporate finance in all business fields and Islamic banking and financing business;
(5) funds administration, fund advisory and fiduciary business of all kinds;
(6) pension fund business and the business of credit companies;
(7) the business of insurance broking, stock broking, and all other financial brokerage business;
(8) financial agency business and the business of provision of corporate finance and other financial advice, investment advice and investment services of all kinds;
(9) the provision of financial custodian services and the business of acting as legal trustees;
(10) the business of ship broking and shipping agents;
(11) the business of provision of classification services and investment grading and other grading services;
(12) business activities of company headquarters, management offices and treasury operations and other related functions for all kinds of business, and the administration of companies generally;
(13) the business of providing professional services including but not limited to audit, accounting, tax, consulting and legal services;
(14) business activities of holding companies, and the provision, formation, operation and administration of trusts and similar arrangements of all kinds; and
(15) the business of provision, formation, operation and administration of companies.

2. Activities Prohibited in the QFC

The Council of Ministers may designate any activities as prohibited from being carried on in or from the QFC on the grounds that it is contrary to the interests of the State or to public policy.