“I keep getting clients who have been misled in the past and ended up having a Trade License in a Jurisdiction which has no value in real terms, they are unable to open Bank account and even many western Countries refuse to deal with such jurisdiction/Free Zones.”
– Dilip Patel
(Director Hexagon Advisory)
It is important to evaluate an entrepreneur’s intention for the business, to understand the type of business/services they plan to undertake, banker’s basic consideration for opening a bank account for that business, local laws and culture and limitation it imposes, selecting between offshore, Free zone and mainland licenses, keeping in mind physical office space considerations, licensing fee, location, ease of travel for staff and clients and above all to be compliant with all the Government laws and regulations.Many who are new to the place are over whelmed with the options available among all the licensing authorities available in the UAE, and typically find it difficult to get all the above information in one place. That makes it imperative to hire a good qualified advisor who is practicing locally for a long time. Their practical experience and knowledge will add to the value of business and in the end Entrepreneur will be happy to get the correct solution at right price.
An experienced advisor will look at the business proposal in totality with a vision for long term prospect of business and suggest the right solution.
To put it simply, do you treat your illness by goggling and finding the medicine or visit a reliable Doctor? Same way by searching on websites and speaking to few friends, you may not necessarily get all the desired information you are seeking to make a coherent plan for your chosen set up or location of Business in the UAE.