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.