RAKEZ Business Setup: Issues You Should Not Encounter

RAKEZ Business Setup

The Ras Al Khaimah Economic Zone (RAKEZ) is an appealing option for business investors from all over the world due to its liberal policies, strategic location, and low taxation. Knowing the benefits RAKEZ offers is not enough, as entrepreneurs repeatedly face problems that could have been easily solved through effective foresight and planning. We intend to point out the most common issues businesses tend to overlook while completing the RAKEZ Business Setup and how to overcome them. This way, they can launch their ventures easily and successfully.

RAKEZ Business Setup

Limited Doing Market Research

One of the largest mistakes entrepreneurs make is entering business without proper research. It’s necessary to know local markets, customers’ needs, competitors, and trends to build a successful strategy. Without it, you can misposition your products or services against market demands. Spend time researching the market to set your RAKEZ Business Setup for success.

Selecting the Incorrect Business Structure

A business structure has a major impact on the long-term success of the business. RAKEZ has numerous setup types, such as Free Zone and Non-Free Zone companies, and each comes with its own intricacies.

Selecting the correct structure is essential, as choosing an inappropriate one can result in negative impacts or even a conflict with regulations. Build your business structure in a way that meets your goals, and seek help if you have to make difficult decisions.

Failure To Address Legal Obligations

Ignoring laws put by the government and other regulatory bodies is categorized as a gross error, one that is incredibly expensive. For some businesses within RAKEZ, the zone has specific strategic consultants, licenses, and permits required by RAKEZ. There is a possibility that if you do not do compliance in full, getting your business running will take more time than anticipated, or you might get fined.

Before starting a business, there is a lot of legalese that one needs to understand, or a person might want to hire an expert to ensure that the business has complied with all the rules and regulations set by the RAKEZ Business Setup.

Deficient Estimate of Financial Resources

Financial resources’ basic estimate along the RAKEZ Business Setup is usually overlooked, and this can bring negative cash flow with unexpected costs. Make sure to have in place a financial plan that shows the setup expenditure, operational expenditure that will be incurred, and a non-utilized contingency budget. If you are resolved to be shocked when money suddenly becomes available, your business will need an opportunity to develop and overcome problems.

Failing To Address Cultural Issues

When establishing a business for the first time in a new territory, cultural sensitivity and awareness are of paramount importance.

Cultural norms and business etiquette in other countries vary, and these details are important to keep in mind while doing business with RAKEZ. Any blunders made can reflect poorly upon yourself and damage relationships with local partners, clients, and employees.

It is crucial to put in the effort to respect the cultural background of the UAE so that strong business relationships can be fostered.

Ignoring Networking Events

Networking opportunities can be very useful in emerging markets, and, at times, people tend to ignore events that may help them build their reputation. One can benefit from participating in the local and RAKEZ community by attending networking activities and partnering with other businesses. Establishing contacts in professional circles can aid in brand recognition and presence in the area.

Final Thoughts

Your business is likely to succeed if culturally relevant, properly financially planned, and thoroughly researched. If you need help navigating through the process, Business & Beyond will help. Their RAKEZ Business Setup expertise will help prospective clients avert mistakes that could cost them dearly and ensure that their project begins on a solid foundation.

Demystifying the Requirements and Procedures for PC (Prescribed company) Formation in DIFC

PC (Prescribed company) Formation in DIFC

Setting up a business in Dubai International Financial Centre (DIFC) is ideal for investors ready to scale their business globally with a robust regulatory environment. Among the available options, PC (Prescribed company) formation in DIFC is emerging as a popular choice due to its low cost and high adaptability. A Prescribed Company might be the best fit whether your aim is to manage investment portfolios, facilitate finance transactions, or hold diverse assets.

This blog will walk you through the process and provide details on the necessary steps to set up a DIFC Prescribed Company so you can confidently take the next step.

What Is a Prescribed Company?

A DIFC Prescribed Company is an entity that is specially structured for specific business requirements, which can include holding assets, being a holding company, or acting as a manager for structured finance. It’s a cost-effective scheme compared to the establishment of an operational company within the DIFC. Thus, serving businesses with a great opportunity to work in this region.

Why Choose PC (Prescribed company) Formation in DIFC?

  • Cost Effective: With fees as low as a $100 one-time application fee and an annual commercial license fee of $1,000, it is undoubtedly a budget-friendly option.
  • Less Red-tapism: Due to reduced levels of compliance, a significant administrative burden is mitigated, and Prescribed Companies face reduced operational overheads.
  • Asset Protection: It is very easy to manage valuable assets such as intellectual property or investments due to the great legal protection offered by companies in DIFC Prescribed.

Who is Eligible to Open a PC (Prescribed company) Formation in DIFC?

To open a PC (Prescribed company) formation in DIFC, you must meet the following conditions:

  • Ownership or Control:The company must be controlled by:
    • Citizens or companies of the GCC
    • Approved businesses or other permissible participants in the DIFC.
    • Individuals or legal entities serving as corporate service providers (CSPs).
  • Purpose:The company is expected to operate with an aim that qualifies, such as holding assets like real estate, shares, aircraft, or even partnerships.
  • Appointing a Director:If a resident is outside of GCC, then the company has to appoint a director who is also a CSP and based in DIFC.

How to Establish a PC (Prescribed company) Formation in DIFC?

PC (Prescribed Company) formation in DIFC is quite simple as the steps are as follows:

  • Create User Profile: Visit the DIFC site, where you will fill in your ID or go through a verification check to create an account.
  • First Step of Approval: Fill out a form that describes the aim of your company along with how it is structured. If a CSP is engaged, attach the necessary documents.
  • Company Registration: After approval, you have to go through the registration process, which gives the company legal status.
  • Document Submission: Attach all required documents, including authorisation letters for the office address and evidence of CSP appointment if they are called for.
  • Get Your Final Approval: DIFC will issue the final approval to establish your company after fulfilling every condition.

Conclusion

Prescribed companies offer an uncomplicated approach to business management around a reputed financial hub. The procedure can be effortless with simplified steps and basic prerequisites.

If you are eager to get started, then get in touch with Business & Beyond for assistance in setting up your prescribed company.

Allow us to help you expand your business in the DIFC.

DMCC Free Zone Business Setup: Key Benefits & Legal Considerations

DMCC Business Set Up

The legal structure of a business is one of the most important features when setting up a business in Dubai. One of the most touted options for setting up a company is the DMCC Business Set Up, which is a favorite among entrepreneurs and investors.

The Dubai Multi Commodities Centre (DMCC) looks like just another free zone, but in reality, it is an internationally notable business center that facilitates commerce, finance, and innovation. DMCC is home to over 21,000 active businesses, providing a competitive edge throughout the Middle Eastern region and even further.

Although there are significant advertising benefits in setting up in DMCC, the central question still remains, Is DMCC the right legal form for my enterprise? The response to that question stems from a few factors, including the industry you are in, your financial resources, and the vision you have for your business.

Effective DMCC Business Set Up Benefits

  • Domain Name Registrations Full Control: Unlike mainland companies, DMCC Business Set Up allows foreign investors to own their business without obtaining a local partner.
  • Zero Tax Incentives: Firms that are situated or previously registered in Dubai Multi Commodities Centre Free Zone enjoy no corporate tax and no personal income tax.
  • Easy Access: DMCC is located in the business hub of Dubai, allowing easy access to the rest of the world as well as Asia, Europe, and Africa.
  • Leading Infrastructure: DMCC companies have modern offices, high-speed internet, and premium business services at their disposal.
  • Easy Business Setup Ease: Compared to other areas, DMCC offers online forms that can be approved right away with virtually no red tape.

Is DMCC Suitable For Your Business?

While DMCC does have many appealing features, it’s good to investigate how much it meets your business needs. The following types of businesses have the most advantage:

  • Forex brokers who are in search of a tax-friendly jurisdiction.
  • IT companies and service providers want an incubator environment.
  • Independent contractors and consultants who want full control of their business.
  • Global E-commerce companies that need unrestricted access to other countries’ markets.

Ready To Work With Us?

Setting up a business in Dubai can be daunting with the wide range of legal frameworks, compliance requirements, and financial management aspects. This is where Business and Beyond can help.

As a global cloud accounting firm, we provide professional bookkeeping services in Dubai, VAT registration, and other financial advisory services. We ensure your company remains compliant while improving your business’s overall financial strategy.

By letting us handle the numbers, you can go back to focusing on growing your business!

Dubai on a Dime: How to Set Up Your Business Cost-Effectively

Low-Cost Business Setup in Dubai

Dubai isn’t just a city. It’s a global business playground. With its cityscape of skyscrapers, first-class infrastructure, and entrepreneurial-friendly laws, it is no wonder entrepreneurs dream about opening a store in Dubai. But here’s a little-known fact. You don’t necessarily need deep pockets to start. That’s right; a low-cost business setup in Dubai isn’t the only possibility. It’s pretty easy if you make the right moves.

So, if you’re thinking, “Can I start a Low-Cost Business Setup in Dubai?” Well, the answer is a definite “yes.” In fact, with careful planning, you can start your business without using your savings. Let’s see how you can do that.

Low-Cost Business Setup in Dubai

1. Choose a Free Zone for Maximum Saving

First things first. Location matters, but not in the way you might think. In Dubai, being situated in a free zone can save a lot of money. Ask yourself why? Well, here’s the thing:

  • 100% ownership of your company. No need for a local sponsor.
  • Zero corporation tax 
  • Repatriation of profits and capital, which means your earnings can be enjoyed by you.

Dubai has more than 40 Free Zones, and each one is designed for a specific kind of industry, such as technology, media, medicine, and many more. 

2. Opt for an Inexpensive License That Best Fits Your Business

Now, let’s talk about licenses. You can’t run a business in Dubai without one, but not all licenses are costly. Depending on your business activity, your options are:

  • Commercial License (for trading companies)
  • Professional License (for service companies)
  • Industrial License (for manufacturing)

Free Zones have packages where the license, office, and even visas are bundled together at reduced costs. That can save your startup a lot of money, allowing you to have a Low-Cost Business Setup in Dubai.

3. Get Online with a Virtual Office

Let’s be real. Not every business needs a fancy office with floor-to-ceiling windows overlooking the Burj Khalifa. If your business can operate remotely, why pay for a physical space?

Virtual offices are an affordable option. They give you:

  • A professional business address in Dubai
  • Mail processing services
  • Meeting room availability (when you need it)

This setup keeps your costs low while giving your business a legitimate Dubai presence.

4. Take Advantage of Dubai’s Tax Benefits

One of the best assets of having a presence in Dubai? The tax incentives can’t be beat.

  • 0% corporate tax in Free Zones (subject to certain conditions)
  • No individual income tax
  • VAT exceptions in particular sectors

And here’s the surprise. Business and Beyond includes free VAT registration and free corporate tax registration as part of its packages. That’s instant savings, part of a truly Low-Cost Business Setup in Dubai.

5. Save with PRO Services

Starting a business in Dubai involves a lot of paperwork—visas, licenses, legal documents, you name it. Doing it yourself can take a lot of time and be costly if mistakes happen.

This is where PRO services come in handy. These professionals handle:

  • Visa applications and renewals
  • Trade license processing
  • Government paperwork

Using PRO services helps you avoid delays, minimize costly mistakes, and focus your energy on growing your business instead of getting buried in bureaucracy.

Ready to Launch a Business in Dubai?

Starting a business in Dubai doesn’t have to burn a hole in your pocket. With careful planning and expert consultation, you can enjoy everything Dubai has to offer without breaking the bank.

Don’t wait. Book an appointment with Business and Beyond today. Your low-cost business setup in Dubai is just a call away.

Top 5 Innovative Business Ideas to Explore in the UAE in 2025

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Key Industries Benefiting from Offshore Business Setup in Dubai

Offshore Business Setup

Offshore Business Setup: If you ever think of expanding your business overseas, Dubai probably comes first in your mind, and quite rightly so. This is no mere metropolis. It’s an international business hub that boasts fantastic company benefits when going offshore.

But what does offshore business setup in Dubai really mean, and why is this a game-changer for certain industries? Let’s dive in and find out why Dubai’s offshore opportunities are changing the way businesses work.

What is an Offshore Business Setup?

Essentially, an offshore business setup means the incorporation of your company in a foreign jurisdiction like Dubai, but you can operate the company from anywhere else. What makes this model so appealing in Dubai is the fact that the city offers tax exemptions, confidentiality, and global connectivity. In other words, it’s kind of like having a VIP backstage pass to global business success but only if you know how to use it.

Industries That Shine with Offshore Business Setup in Dubai

1. International Trade and Logistics

The location of Dubai is unbeatable. It is naturally the gateway between East and West. For any company involved in trade and logistics, Dubai offers an opportunity to enhance its operations through the use of Jebel Ali Port and its free zones. In fact, for businesses that pride themselves on managing their global trade with ease, an offshore setup here makes a lot of sense.

2. Consulting and Professional Services

If you are into consultancy, be it finance, marketing, or IT, Dubai provides a strategic base from where you can expand your services to any part of the world. An offshore structure will enable you to serve international clients with benefits like tax exemptions and confidentiality.

3. E-commerce and Digital Enterprises

The world is online, and Dubai knows that. Digital businesses can draw on Dubai’s tech-savvy ecosystem and robust IT infrastructure for the efficient running of their global operations. Companies doing business offshore in this segment are likely to find flexibility not only in the city’s policies but also in its international standing.

4. Holding and Investment Companies

From pure asset management and intellectual property management to investment-focused businesses, the different offshore jurisdictions in Dubai offer a safe and tax-efficient environment. Whether property or portfolio management, this structure will make sure your assets are safe but accessible from anywhere in the world.

5. Intellectual Property and Licensing

All such enterprises that aim to protect intellectual property in the form of trademarks or patents find Dubai’s judicial laws very favorable. The rights regarding IP can be readily managed by an offshore setup that is assured of recognition and protection in most countries.

Why Choose Dubai for Offshore Business Setup?

  • Taxation: The offshore company enjoys zero corporate and personal income tax.
  • Confidentiality: Dubai keeps shareholder and director information private.
  • Global Connectivity: From world-class infrastructure to its strategic location, Dubai has connected businesses with global markets with considerable ease.
  • Easy Setup: Quick, efficient, and at a low cost.

Things to Keep in Mind

While the benefits are enormous, an offshore business in Dubai cannot trade inland in the UAE, nor can it have a physical office in the UAE. Also, they are not eligible for UAE residency visas. Make sure this aligns with your business model before you dive into it.

Conclusion

Setting up an offshore business in Dubai is not just intelligent; it’s a leap into global scaling for industries. Be it trade, consultancy, or e-commerce, the avenues are endless once you learn your way around them.

At Business and Beyond, we don’t just set up a business; we build a future. From bespoke solutions to expert guidance, seamless and strategic offshore setups are how we do them. Ready to take the leap? Let’s discuss how we can help your business thrive.

Step-by-Step Process for Foreigners to Open a Business in Dubai

Business Setup in Dubai

What comes to your mind when you think about Dubai? Probably sparkling skyscrapers, busy markets, and a thriving economy. Over the years, Dubai has grown as a commercial hub globally, attracting business persons from every nook and corner of the world. Its strategic location, combined with tax benefits and friendly business policies, makes it a perfect place to launch your business. But how do you start a business Setup in Dubai? Let’s break it down step by step.

Step-by-Step Process for Business Setup in Dubai

1. Choose Your Business Activity

First, you have to decide on the type of business you want to operate. Dubai broadly classifies business activities into commercial, industrial, and professional sectors. This choice determines your licensing requirements and your legal obligations. For example, if you are opening a consultancy, you fall under the professional license category. Being clear about this step will make the rest of the process easier.

2. Choose the Right Jurisdiction

Business Setup in Dubai provides three major jurisdictions, including:

  • Mainland: Suitable for companies that aim to conduct their business freely in any part of the UAE.
  • Free Zones: An excellent place for 100% foreign ownership, furthermore with additional tax benefits. However, activities may or could be restricted in such a particular zone.
  • Offshore: This will suit a company that deals with overseas business without local trades.

3. Select Your Legal Structure

Your company’s legal structure determines ownership, liability, and operations. Options include:

  • Limited Liability Company (LLC): Common for partnerships; foreign ownership of 100 percent is allowed in most sectors these days.
  • Sole Proprietorship: Best for those in professional services.
  • Branch Office: Ideal for the expansion of an already existing business into Dubai.

4. Register Your Trade Name

A catchy trade name is handy, but in Dubai, this needs to be complemented with some specific rules: your name must reflect your business activity and not be offensive or carry any reference to religions. Check its availability and register it through DED or the relevant free zone authority.

5. Secure Initial Approval

But before that, you will have to get preliminary approval from the DED or the free zone authority. This is a no-objection certificate from the government that your business activities are not objectionable, and on getting this, you get set to proceed with the paperwork.

6. Prepare Your Memorandum of Association (MOA)

The MOA is a binding agreement that will guide your company structure, ownership, and working style. This holds for LLCs as well.

7. Find a Business Location

Every company needs to have a physical address in Dubai. Most free zones have flexible solutions, including coworking space, but the business needs to lease an office on the mainland. 

8. Obtain the Licenses

This is where your business gets officially materialised. Depending on your activity, you will need:

  • Commercial License for trading.
  • Professional License for services.
  • Industrial License for the manufacturing process.

9. Register for Visas and Labor

Registration with the Ministry of Human Resources and Emiratisation is required to hire employees or recruit from abroad. This will ensure that all formalities related to obtaining visa permits and work permit contracts are issued.

10. Open a Corporate Bank Account

Finally, open a corporate bank account for bookkeeping purposes. If possible, use a bank that has experience in handling foreign investors, and make sure you have all your documents ready, such as the trade license and MOA.

Conclusion

A business Setup in Dubai can be quite rewarding. The process is not devoid of challenges. From the choice of the right jurisdiction to obtaining approvals, each step is very vital. That’s where Business and Beyond steps in. With expert guidance, personalized service, and a proven track record, we’ll make your entrepreneurial dream in Dubai become a reality.

Today is Always the Most Productive Day of Your Week

Today is Always the Most Productive Day of Your Week

Today is Always the Most Productive Day of Your Week: A Guide for Entrepreneurs

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A Closer Look at the New Fintech Start Up Transforming Transactions

New Fintech Start Up

A new fintech start up entering the scene is shaking up the way we transact in the changing landscape of financial technology. With the help of artificial intelligence (AI), fintech is changing how payments are made today, making it fast, secure, and easy. If you have ever been frustrated by why sending money overseas is such a hassle, wonder no more as this start up explains how they are changing the world of payment transactions.

Turns Out Money Transfer Isn’t Rocket Science: A New Kind of Fintech Firm is Here

Fintech specializes in AI to provide unique services in the financial world. Integrating AI into their system, they are easy cost cost-cutting, improving processes, and improving user experience. With a new fintech start up, everything can be done. Pay a bill, make a purchase, and transfer money with minimal effort.

What Makes New Fintech Start Up Unique?

Sending a wire transfer or an international payment might be the most difficult task in treasury management. Opening a payment layer with an AI-powered start-up makes the process a whole lot easier. The startup uses AI to remove unskipping, handles multiple steps, eliminates false alarm sunk cost, removes the need to speak to real people on the line, and so on. With the use of AI, not only is the transaction speed enhanced, but efficiency and security are increased as well.

Check Out How AI Is Used in Financial Services

With the influx of technology, AI has been a game-changer in the functioning of this start-up. Fraud detection and compliance with regulations have been made simple with the identification of patterns among huge amounts of data with the use of AI algorithms. Moreover, AI also helps the platform to provide cost-cutting solutions as well as services based on individual user requirements.

Why Is This New Fintech Start Up Making Headlines? Is It Worth Noticing?

In case you have ever thought about why completing financial transactions sometimes becomes a hassle, this startup presents a solution to this issue. They are using cutting-edge solutions and technology-based approaches to make their processes efficient and secure while extending their reach and the number of services they provide. If you are a business owner keen on expediting payments or simply an individual looking for effective tools to manage finances, this is the company for you!

Future of Financial Service Transactions Without A Shadow of A Doubt

The emergence of this company isn’t a standalone event, rather it’s becoming clear the overarching shift to move towards the use of technology across services and industries. AI is being screamed to be the future of transactions for various sectors and bet it or not, this change is going to take consumers and businesses by storm! How do you ask? By creating more revenue and innovative ways to approach a problem!

How Business and Beyond Can Make Your Life Easy?

When it comes to the various services we provide at Business and Beyond, we understand how overwhelming juggling through the changing financial ecosystem can be. As such, we provide business formation, as well as CFO consultancy services that allow you to easily make use of these new technologies. Of course, you will have our guidance, so after all, you will manage to realize your dreams and turn it into success in these turbulent conditions. Whether you wish to expand your business or simply want to stay ahead in the technology curve, visit Business and Beyond for a New Fintech Start Up of the future.

Don’t Be Afraid to Give Up the Good Job to Go for the Great Business Ownership

Don’t Be Afraid to Give Up the Good Job to Go for the Great Business Ownership