Benefit With Free Zones And Start A Business Today
UAE is a prosperous continent and establishing a business here is always profitable. While there are a number of cities here, Dubai happens to be one of the most visited cities and also the most popular. If you are considering the thought to open company in Dubai free zone, you’re on the right track. Here are a few reasons why picking the Free Zone is always beneficial.
Better Business Growth
There’s not a lot you can do when you’re short on funds in the UAE. This is why most aspiring business owners choose not to establish a business here. A free zone enables these business owners to establish a presence even when they do not have enough funds to do so. Apart from the capital investment, free zones also help to provide them with economical zones that can be called their own. They also get a tax exemption for a short term till they can manage to sustain the business. There are a number of things that one could sell in these free zones based on what yields them high profits. While items imported are charged a mere 5% tax some items such as alcohol could go up to 50% taxes.
UAE is a tough place to establish a business and if you are a foreigner, it is always more difficult to establish a business without the help of locals. While some people choose to partner with the locals, there are others who prefer not to. When you pick a free zone, you can become a 100% owner of your own business without the need of a partner who is a local. This enables you to make your own business choices without having to consult any other person. Often partnerships don’t work out due to the differences between the partners.
Paying up import duty taxes is not easy since the rates are high and it often does not manage to yield a profit when you try to start a business. This is why a free zone is always more beneficial. Not only does it exempt you from a lot of tax, it also ensures you pay lower prices and this means your profits are maximized. There are a number of various products that you can import at a very low cost. When you pick a free zone, always try to opt for products that do not have heavy custom taxes on their import.
The free zones in UAE are at some of the best locations and this enables you to get the most sales for your business. The number of people that visit the free zones is always high, so you do not need to spend money on advertising for your business in order to attract customers. Once you acquire a spot at the free zone, it is easy to run a business since there are not too many overhead expenses, and the profit margins are high. You also get more sales since you are situated in a place that has a lot of people visiting on a regular basis.