The most interesting part of business in Dubai is the free trade zones. It is such type of business that is mainly owned by the owner itself. There is no such requirement of a manager to maintain any types of liaison or similar other things. It should be remembered by all that taxation and ownership are the two most important sides of business while starting anything new. As most of the foreigners are trying start a business at Dubai so the said Government has opened and introduced Dubai Free Zones. It is a special economic zone where the businessmen are absolutely free to operate business in their own way and they can also enjoy tax exemptions to a good extent.
There are some main reasons for operating these types of business.
Let’s have a look at it.
- Exemption from tax
It is always considered to be one of the main reasons of having a business at Dubai. You can enjoy absolute exemptions from taxes. This facility cannot be enjoyed by any other countries of the world.
- Limited Liability Company
It is such an option whereby you can open a company by your own and manage it solely. There is no need of appointing a promoter or a local sponsored in such a situation. It is a great facility that can be enjoyed by the business entrepreneurs.
- Carry various business at a time
Apart from all this, the businessmen can indulge him in more than one activity. It cannot be enjoyed by any other countries of the world.
- Confidentiality of Business
You can also maintain your business confidentiality very easily. It is kept secret. There are certain rules that are simply made by keeping all these things in mind.
- Relaxation in opening Bank accounts
At the same time you can also enjoy perfect relaxation in opening bank accounts in your own name. Most of the banks in Dubai provide this facility to the customers.
- Minimum renewal fees
If you are thinking or worried about the renewal fees of your business then it is very small in comparison with the other countries. Most of the countries demand a huge amount of money at the time of renewing the business.
- Winding up of the business at your own will
You can also wind up your business by your own will and wish. There is no such hard and fast rule to take permission from the supreme authorities for this purpose. It is a great facility that is conferred upon the businessmen of Dubai.
Now it must be absolutely clear before the people that the concept of Free Trade Zones is a wonderful one. It has largely benefited number of people who are associated with this field. Initially it may appear to be a tough job but actually there is nothing tough about it.