There is no denying the fact that Dubai is famous for its state of the art infrastructure, amazing architectural wonders and luxurious life style that makes it one of the best travel destinations in the region. But, what many people still don’t know is that Dubai is also an important economic hub of MENA region. If truth be told, its not just the small and medium size industries that are getting attracted towards Dubai due to its business friendly policies but you will also find a number of world’s top organizations choosing Dubai as the ideal place for their business expansion.
If you are looking for information about offshore company formation in Dubai, you will find that Dubai government is very eager to attract more and more foreign investment. For this purpose, Dubai has offered a number of Trade Free Zones throughout the Emirate that provides unmatched business opportunities to foreign investors. Best part of the entire deal is that Free Trade Zones of Dubai offer exceptional relaxations on taxations and custom duties that you won’t find anywhere else in the region. Business friendly policies and dynamic economy of Dubai is enough reasons for foreign investors to choose Dubai for the expansion of their business. Moreover, Dubai has become a center of attention for international investors as a host city of Expo 2020.
However, you will have to be very careful when setting up a new business in Dubai. You will only be able to enjoy the benefits out of opportunities that Dubai offers to foreign investors, if you will have complete knowledge about company formation in Dubai. First thing that you will have to be very careful about is the selection of right economic jurisdiction for your business. Then you will have to decide that which business type suits best for your company. Moreover, you must have complete information about the documentation and registration process of formation of a company in Dubai.
Although, Department of Economic Development in Dubai has made a number of improvements in their operations and systems to provide best services to foreign investors, yet a majority of international investors find Free Trade Zones as the best option for business formation in Dubai.
Many foreign investors are also exploring other Emirates of UAE to find out more business opportunities. This is why; you will find a number of investors interested in RAK Free Zone company formation these days.
There are many people, who come to Dubai in order to start their own business, but real estate in the entire country is very expensive; so they sometimes start an online business. Now the best advantages of an online business over a real world one is that it does not need any expensive office in a high rise tower, it does not need any large warehouse, it does not need a lot of people who are going to meet and greet the customers and it does not need any large investment at the start. However when it comes to bookkeeping, the online business is no different from the offline one. The bottom line is that you must be able to hire a good person who is professional in his job if you want to run any online business in Dubai, otherwise you will find yourself behind bars in very short time. So here are the best tips on how you will be able to keep track of your business as the bookkeeper does his work.
Hire a professional to find which parts of business bleed money
The first thing to keep in mind is that all bookkeeping services in Dubai are provided by some of the most professional people on the planet, so if you are hiring a good person then you will be able to keep track of your expenses through their work. The best thing to do for you will be to ask them for a full audit instead of meddling in their work and asking only for certain things. This will open up your business for you and you will be able to cast a full eagle eye view on your business. Through the use of a good bookkeeping service, you will be able to see which parts of your business are bleeding money and which parts are the best sellers. So in the future, you can concentrate on the problem areas, or remove them completely.
Follow the advice of consultants to the letter
Another thing to keep in mind is that any good vat consultant in UAE will be able to give you the basic service, but a true professional who has past experience of working with online businesses will be able to tell you which things are the most problematic. So if you have hired a person who is a true professional then you should heed his advice. Many business owners do not heed the advice of the consultant and do not act on it. This leads to disaster, so you should make sure that you are following the advice of your consultant to the letter.
So, you want a fresh startup and have high expectations already. This attitude shows your enthusiasm for business which is necessary for any businessperson. There is no denying that starting a business, small or big, is not easy. You need to think about a number of different factors, each of which will impact your business in some way. It is the game of patience, but those who indulge in haste may not stay in the market for long. Among many other things, you also need to think about the location of your business.
It is important to pick a place that enjoys positive reputation in the market. Selection the place of your choosing for kick starting your business has its pros. Similarly, if you ended up choosing the wrong place, chances are that your business might not get enough exposure. Having little or no exposure means it will not reach the masses. If it doesn’t, you will not be able to reach appropriate audience for your product/ service. Keep in mind that people will only be attracted to your business when they know about it. Here is what you need to do to reach and attract the audience and turn them into customers:
Choose A Lucrative Location
The saying that every business is identified by the place it is operated from is not far from truth. It is up to you to find the location that you think will work wonders for your business. However, taking hasty decision is not an option. Doing so might run your business into trouble. Start exploring your options and pick the best location for your business. Dubai seems to offer every bit of you and many other entrepreneurs are looking for. The city is perhaps the most attractive option for a fresh start up for a number of reasons. Firstly, it is home to a diverse population which is many businesses would look for.
The city is perhaps the biggest tourist attraction in the entire region. Tourists from all over the world flock into Dubai to enjoy a variety of tourism opportunities. The year-long touring season means your business will never run out of business opportunities. Being exposed to a diverse audience means you will find those who will be attracted to your product/ service. At some point in time, they’ll stop thinking and start buying from you. Either way, it is safe to assume that you cannot go wrong in your decision to start business in Dubai.