Deciding to go offshore with a business is a major decision to make. So many things can go wrong, and of course, it’s going to cost you a lot of money. If you are planning to setup in Dubai, it may appear as if your risks are heavily reduced. Dubai has become a hotbed for foreign investments thanks to the ‘free zones’ provided by the region. This allows foreign investors to set up a company with little barrier to entry. In fact, the authorities are working on providing even more opportunity in future. With so much potential, and the obvious benefits of the region, why not go ahead? There are several reasons.
What might seem like a great idea at first, can quickly go downhill once you’ve actually learnt the processes and systems of an offshore region. If you are looking to setup business, always consult a professional. Make sure they are reputed and have successfully assisted with the process of opening up businesses in the region. Your due diligence shouldn’t just stop there. Find out how well these companies are doing. With the money to be made, it’s easy to guess that some companies may be in highlighting pros while conveniently omitting to mention the potential issues you may face when you open a company in Dubai. Work with a company that looks into feasibility thoroughly. A trusted company will walk you through the process and present you with potential alternatives. Most of all, they are going to give you the good with the bad. With a good company locally based to back you up with your decision, you should have more confidence going forward.
Have a Concrete Plan
While a business plan is going to be necessary if you are looking at offshore company formation Dubai, any old business plan won’t do. Local investors in the region are bombarded with several requests on a frequent basis. You need to be able to communicate that you’ve seen the opportunity across all angles, and have immersed in the local dynamics that can affect the business. This can only be done with the help of a professional. Bring in a business consultant that can add value in terms of seeing things through the laws and limitations of the region. This will be more comprehensive and will give you more confidence to the local party involved as well. Of course, you won’t require a local investor if you set up in a freezone.
If things are looking positive on both counts, then it’s a matter of getting the paperwork in order which is easier than people tend to assume. With relaxed laws, you’ll be up and running in no time.