Dubai is unremittingly offering a fruitful and prolific atmosphere for entrepreneurs from around the world. Being the commercial capital of the UAE, Dubai offers unlimited business opportunities. Dubai city is well connected to the rest of the world. Its strategic geo-location makes it easy to do business with various parts of the globe.
Even if you start surfing internet today, you can have a wide options of investment opportunities in Dubai, like in tourism, finance, media, technology, as well as the real estate sector. But is the business world of Dubai real? Do people really get what they are offered? Is there something which you should know before investing?
If these questions are knocking your mind then you are at the right place; as today we have compiled certain myths about the business world of Dubai. So, before you say yes to investment options, roll down and know about some of the business myths in Dubai:
Myth 1: Offshore company set-up in Dubai results in tax-evasion:
Fact – This is a lunatic myth spinning in the entrepreneurs mind. There are plenty of investment opportunities in Dubai but to escape from tax-evasion people usually switch to offshore company formation; which is a big false. There is no doubt that offshore company startup can be tax efficient, as it offers tax avoidance. But one should not blend tax evasion with tax avoidance. There is a difference between the two. Tax avoidance means offshore company formation can help you in reducing your overall tax liabilities as per law. While as tax evasion refers to tax dodging through illegal activity, where one does not pay what should be paid as per government law.
Myth 2: Online store in Dubai cheaper than real-time store:
Fact – In today’s digital era if you will ask anyone what business he would prefer in Dubai; the answer is surely going to be an “Online Store.” People live in the misconception that running an online store is cheaper than a static store. But the fact is that online store costs as much as it does for an actual store. It involves a whole series of processes that require time and money such as supply-chain management, warehousing, dispatching, and marketing. All these costs are significant and depend on the nature of the business. So, if you are thinking to start an online store in Dubai be financially prepared first.
Myth 3: There is no law or governance for offshore companies in Dubai:
Fact – From past few years, it is known that most the young entrepreneurs shift towards offshore setup when it comes to investment opportunities in Dubai. No doubt, offshore companies offer privacy and confidentiality of transitions to the investor but there is no truth in it that they don’t have to follow law and jurisdictions. Dubai has specific laws and governance for every type of business whose violation can be counted as a criminal offence. So, be sure to make your business ethically fit for Dubai laws and regulations.
Myth 4: Real estate business in Dubai is fast and easy:
Real estate newbies think that in Dubai real estate industry is the best and easy revenue-generating source. There is no denying that this sector is the good business platform in Dubai but this sphere needs more time and dedication. Making quick money out of real estate in Dubai is a total myth. To be successful requires hard work and determination. Besides this, this has its own boom but be cautious and have patience, with time it is surely going to show you flying colors.
Myth 5: Stock market in Dubai is spam-free:
Every day, there’s a new hot stock in the market of Dubai. These stocks may gather substantial media or social attention but they’re not necessarily worth your consideration. Dubai is having a vast business market so finding a spam is no surprise. Be careful when you are thinking to invest in Dubai’s market. Be sure to have full research and investigation about the stock in which you want to invest. If you are a foreigner to the place it may be a little difficult for you to decide whether you should go for investing or not. It is advisable to consult professional business consultants in Dubai who can assist you in the same.
In the end, we wish you good luck and don’t let myths and misinformation stop you from taking advantage from smart investing opportunities in Dubai.