Canadian asset manager Fiera Capital opens Qatar office

The Qatar Financial Centre (QFC) has announced that Canada's Viera Capital has joined its platform and established a local office in Qatar.

In a statement today, the center said that Fiera Capital is a leading independent asset management company, with assets under management valued at about US$115 billion as of the end of June.

He noted that Viera's UK subsidiary has received initial approval from the QFC Regulatory Authority, under which it will conduct its activities in Qatar under the name "Viera Capital (UK) Limited – QFC Branch".

Commenting on the significance of this move, Mansoor Rashid Al Khater, Chief Executive Officer of the QFC, said: "We are delighted that Viera Capital has joined the QFC financial services community and we are confident that it will be a valuable addition to our business community. This decision is a significant and leading international asset management firm, reflecting the growing confidence of investors in Qatar as a regional financial hub and will support the expansion of the asset management sector in the country."

Klaus Schuster, CEO and CEO of Viera Capital, EMEA, said: "Opening a local office in Qatar will allow us to work directly with investors and play an active role in achieving the country's aspirations within the framework of the Qatar National Vision 2030. We are grateful to the QFC for partnering with us as we begin a new chapter in our journey in the Qatari market."

The QFC was established to operate within the country, providing a unique business platform for companies wishing to establish and operate in Qatar or the wider region. The Centre also has a special legal and regulatory framework, tax regime and a well-established business environment that allows up to 100% foreign ownership, 100% profit carryover and corporate tax at a competitive rate of 10% on locally sourced profits.

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