The Best Kept Secrets for Business Expansion in the UAE
On April 27, 2023, CX Financia hosted an event aimed at entrepreneurs and businesses seeking to expand their operations in the UAE by Discovering RAKEZ (The Gateway to Business Expansion in the UAE). The event featured two expert speakers who shared their wealth of knowledge with attendees. Mr. Zubair Makhdoomi, the Regional Manager of Partners and Alliances for Europe & CIS Cluster, Greater China, NAM, and the UAE, discussed the advantages of setting up in a free zone like RAKEZ. Mrs. Olga Shishkina, the Director of EEU, Supporting Government Entities, provided strategic advice to businesses in the Middle East and offered solutions through collaboration and smart technologies.
Setting Up in a Free Zone: Advantages and Opportunities
Mr. Makhdoomi began by highlighting the advantages of setting up in a free zone like RAKEZ. One of the most significant benefits is 100% foreign ownership, meaning that entrepreneurs and businesses can retain full control over their ventures. Another advantage is the absence of corporate tax, which can significantly reduce the cost of doing business in the region.
To help attendees understand the concept of free zones better, Mr. Makhdoomi provided an overview of the various free zones in the UAE besides RAKEZ. He also detailed the different company formation options available in RAKEZ, including business support services like licensing and visa processing. Additionally, he shared some practical examples of use cases for trading and services companies in RAKEZ.
Strategic Advice and Solutions for Business Expansion in the Middle East
Mrs. Shishkina followed by discussing the strategic advice she provided to businesses in the Middle East. She emphasized the importance of collaboration and smart technologies in expanding businesses in the region. Through collaboration with government entities, businesses can tap into new markets and grow their operations. Additionally, smart technologies can help businesses streamline their operations and increase efficiency.
To help attendees understand the Middle East market better, Mrs. Shishkina discussed some unique aspects of the region, such as cultural differences and regulations. She shared some tips on how businesses can navigate these challenges and succeed in the region. Finally, she discussed some examples of smart technologies that businesses can adopt to increase efficiency and streamline operations.
Conclusion
The event also highlighted the importance of collaboration and smart technologies in driving business growth in the Middle East. By leveraging government resources and tapping into new markets, businesses can establish a strong foothold in the region. Attendees learned that the adoption of cutting-edge technologies, such as artificial intelligence and blockchain, can increase operational efficiency, reduce costs, and improve overall performance.
Overall, the event was a remarkable success, providing attendees with invaluable insights into the benefits of setting up in a free zone like RAKEZ, the business support services available, and the importance of collaboration and smart technologies in expanding operations in the Middle East. Armed with this knowledge, businesses can optimize their operations, reduce costs, and establish a robust presence in one of the fastest-growing regions in the world.
If you missed the event, don’t worry! CX Financia has plans to host similar events in the future in Nicosia and other regions. Be sure to keep an eye out for the next opportunity to learn about the most well-kept secrets for business expansion in the UAE.
