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 Regulations 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.