Media City Qatar (MCQ) has signed a Memorandum of Understanding (MoU) with Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), in order to facilitate the establishment of media companies in Qatar.
Under the agreement, the QFC will register media companies pre-approved by MCQ, which both the QFC and MCQ will license. Registration and Licensing details will be recorded on the QFC platform.
This partnership enables licensed companies to conduct business in Qatar according to MCQ’s permitted activities. The QFC will facilitate all necessary governmental procedures and tax-related processes by Qatar’s legal framework and regulations.
Meanwhile, MCQ will diligently oversee the companies’ compliance with the applicable regulations for media entities in Qatar. Furthermore, the two parties will collaborate to promote each other’s programs and activities and evaluate opportunities for mutually beneficial projects toward developing the media sector in Qatar.
The partnership between the QFC and MCQ signifies a shared commitment to regulatory compliance, operational excellence, and fostering growth in the media sector.
Expressing his enthusiasm about the MoU, MCQ Chairman HE Sheikh Dr Abdulla bin Ali Al Thani said that, “This strategic partnership will empower Media City to attract and license media companies, further enriching Qatar’s vibrant media ecosystem. We extend our gratitude to the QFC Chairman and Minister of Commerce and Industry HE Sheikh Mohammed Bin Hamad Bin Qassim Al Abdullah Al Thani for facilitating the signing of this pivotal memorandum of understanding, which sets the stage for driving growth in the media industry and contributing to Qatar’s economic diversification.”
“We are thrilled about this partnership with Media City, which marks a significant step in fostering media growth in Qatar. Through this collaboration, we aim to streamline processes and provide a conducive environment for media companies to thrive in the country. Together with MCQ, we are poised to unlock exciting opportunities and drive innovation in the sector,” noted Yousuf Mohamed al-Jaida, CEO of QFC.
