You’ve had a hot streak and been very profitable on your own soil. You are among the top in your industry and you’ve done great for yourself. You are now looking for a new challenge. You could start over by working in an entirely new industry, or you can try starting up a company in another country. With the different way of life, overall culture and individual challenges that a new country faces, the latter can be a great stint to take on. By expanding your operations overseas, several benefits can come off it. But where would you pick? Even with a bit of research you’ll quickly find that Dubai is a hot spot for foreign investors and entrepreneurs. The free zones in particular bring several perks and encourage company setup.
If you are looking to startup abroad, you should be seriously looking into setting up in a Dubai freezone. The country is continually expanding and looking to attract more foreign investments, for obvious reasons.
Here are some reasons why you should get on board:
Virtually tax free
If you are looking to setup business in Dubai, you’ll be virtually tax free! We use the term ‘virtually’ because you could still be paying taxes in your home country for income abroad, depending on where you live. There are also certain taxes that are applicable to a few industries, depending on the products that are being traded. For the most part, you will be pleasantly surprised to see your accounts statement showing a very small number lost in taxes.
With the government heavily supporting expatriate investing, there are several companies and individuals available to assist you with the process. The internet alone will give you a wealth of information, and while this might have you believe that you are an expert in offshore company formation in Dubai, it’s always better (in fact, recommended) to work with a professional company that has done the paperwork for several foreigners before you. This will save you a lot of time, hassle and probably money.
A business hub
This goes without saying. Dubai is not just a business hub but a great place for pretty much anything in general. It’s great for tourists, there are plenty to see, it’s highly multicultural and there’s plenty of opportunity. Apart from a very few industries, if you have the proper business acumen, you’d very likely find success by setting up shop in Dubai.
There are several more reasons to think of Dubai as the destination to setup an offshore business but these three alone should have you thinking. Of course, industry limitations and long-term sustenance of the business should be your first priorities.