REPO 3.1.1 Eligibility to apply for authorisation

(1) An application for authorisation to carry on the regulated activity of operating a representative office may be made only by a body corporate:
(a) that is incorporated in a jurisdiction other than the QFC or the State of Qatar; and
(b) that is regulated by a financial services regulator, in a jurisdiction other than the QFC or the State, in a way that is substantially equivalent to the QFC regulatory framework.
Note The effect of rule 3.1.1 (1) is that the applicant must be registered in the QFC as a branch.
(2) An applicant for authorisation to carry on the regulated activity of operating a representative office must satisfy the Regulatory Authority that the applicant is genuinely committed to doing business in the QFC.
Derived from QFCRA RM/2020-5 (as from 1st October 2020)