Trusts

A Trust is not a legal entity and does not have its own legal personality (i.e. does not have the capacity to contract in its own right). In general, a Trust is created when a Settlor transfers assets to a Trustee to hold for the benefit of one or more Beneficiaries. The term “Trust” refers to a fiduciary arrangement (duty of care) between the above mentioned three parties.

QFC is the only place in Qatar where a Trust legal regime is available and 100% foreign ownership of Trust assets is permitted. QFC Trusts are governed by QFC Trust Regulation s and are required to be registered with the QFCA; however, they are not required to be licensed. QFCA maintains a Register of trusts but does not make Trust documents publicly available.

Trusts are commonly used for inheritance and family asset planning reasons. The legal title to Trust assets stands in the name of the Trustee(s) who manage the assets on behalf of and for the benefit of the Beneficiaries.

A Trust may continue indefinitely or terminate in accordance with the provisions of the QFC Trust Regulations or in accordance with the Terms of the Trust.

The Qatar Financial Centre Authority (“QFCA”) is committed to ensuring and enhancing transparency by adhering to the legislation on Anti-Money Laundering and Combating Terrorism. In line with this commitment and as a part of its duty in setting up different legal structures or arrangements in the Qatar Financial Centre (“QFC”), the QFCA also has the responsibility for gathering Basic Information regarding such structures or arrangements and identifying their ultimate beneficial owners. It is the responsibility of the legal structures or arrangements registered with the QFC, to maintain at its Registered Office, a Register of Basic Information, a Register of Beneficial Owners and a Register of Nominees, in addition to any other Register required to be maintained under any QFC Regulations and Rules.

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Trusts

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