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Tax Solutions for the Small Business OwnerBeing a small business owner gives you several ways in which you can save on taxes. Most of all, our solutions give you the boost that can take you from being a small business into the realm of the large corporate players. At Fortunum Investments Ltd., we have helped several small business owners to save thousands not only in taxes for their business, but for their employees as well. Although our primary focus for new clients is to save money, a pleasant result in using our services is that most of our clients boost their revenue several times over.
Not all small businesses are alikeWe know. This is why we have specialists who have worked with your type of business before. Each small business is unique in some way – the way they treat their clients, a special product, a special service, or something else that sets them apart from their competition and allows them to strive and compete against the big players. Let us help you add a boost to this winning formula. Whatever you do, we always realize that the transition from being an onshore company to becoming an offshore company can be difficult. We always tell our clients to make the transition slowly, most preferably in stages. When you read further on, you will find our suggestions practical and useful.
Stage 1 – Incorporate in DubaiFirst, incorporate in Dubai. Dubai is a tax-free jurisdiction. You have no corporate taxes; no personal taxes, no withholding taxes; no capital gains taxes; no restrictions on repatriating money abroad – in short Dubai is the perfect and ideal location to base and grow your business. In some point in the future, this company that you form in Dubai will become the company that you will send invoices from, pay your staff etc. So make sure that you name it the same as your present company. For example, if your company is called “Fortunum Investments Ltd.” in your country, we will have to obtain the necessary approvals to name it “Fortunum Investments Ltd.” in Dubai.
Our experienced consultants can easily help you identify and incorporate the right type of company for your business. If you wish to submit an obligation-free questionnaire to receive a detailed proposal, please click here.
Stage 2 – Open a Bank account in DubaiOnce we have incorporated a company for you in Dubai, we will immediately set up a bank account in Dubai in the name of your company. This is necessary in order to for you to keep your money offshore so that it is outside the reach of the taxman. We will talk more about this bank account in the next stage.
Stage 3 – Invoice your clients from DubaiThe most important thing about taking your company offshore is to keep your clients informed of your intentions. We always find that telling your clients that in order to get better prices for them, you are invoicing them from your offshore company. This is where, keeping the same company name helps. The clients’ attitude will be “Hey, it’s the same company but a different bank to which I am sending payment. No problem.” This is where a Dubai bank account helps. You are not only invoicing form an offshore company in Dubai, you are also taking payments in the name of the offshore company. More importantly, you can try this with some regular and loyal clients and gauge their feedback and tune your operations before moving onto other clients.
Stage 4 – What about your employees?This is the hardest part of the process of moving offshore. You will have some employees who cannot wait to come to Dubai. Who doesn’t want to come to a country, that has no crime, no taxes, no pollution, year-round sunshine, golden beaches, a cost of living that is about one-tenth that of Western Europe, a lifestyle that affords cheap domestic help from Asia, great hotels, clubs, nightlife, superb schooling etc? However, seeing is believing. We suggest that you bring your employees on a one week holiday to Dubai and leave the rest to us. We will make sure that we do everything in our power to impress them so that they want to move to Dubai.
We help in finding housing, schools, club memberships, domestic help, the right cars, driving licenses, in short everything that is needed to make the transition a smooth one.
Other concernsEven though a majority of companies can move offshore, there are some companies that cannot move offshore 100%. As an example, what if you are running a supermarket? There is no point in bringing your Supermarket to Dubai so that you can save in taxes. Well actually there is. We have advised many companies that have felt that they can never move offshore to move offshore. Supermarkets, Petrol stations, Computer services companies, Spas, hotels – you name it we have done it. Each type of business has a unique solution. The combination of our expertise and Dubai’s proactive views on attracting more businesses makes this possible.
If you wish to submit an obligation-free questionnaire to receive a detailed proposal for your business, please click here.
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