Expanding a business abroad has never been an easy task, no matter how experienced or rich one is. Without the foreign government’s support and tax exemptions many Indian traders and businessmen drop the idea of trading or establishing an office abroad.
One of the most successful business hubs of the world, the Gulf region can get you enough exposure to step out with your products and reach out to the entire world. With the central and efficient sea and air connectivity the region has tremendous potential for business. What if all the benefits of doing business in the Gulf came in handy?
Doing business in the Gulf might have never been easier. Earlier people had to share their profits with a local national of a Gulf nation or had to make a local national a business partner in order to setup any office or business in the respective as per the rules of Gulf nations. This was hampering their economy, so to counter this issue, many Gulf nations have now setup Free Trade Zones to promote overseas investments and businesses.
UAE’s Hamriyah Free Zone has come up with business friendly models for Indian traders to set up business, and export and import from Hamriyah with zero tax!
They are providing 100 per cent import and export tax exemption, also exemption from all commercial levies. One would also not have to pay any corporate profit tax or personal income tax. The Hamriyah Free Zone Authority has approached India to reach out to the affluent business community. The Union Government also sees UAE as one of its strategic partners in the Middle East.
Speaking on a seminar held recently in the national Capital, Hamriya Free Zone Director Saud Salim Al Mazrouei, said, “India is UAE’s top preference when it comes to trade relations. There are already over a thousand Indian companies operating out of Hamriyah Free Zone and we see the numbers to go much higher in times to come.”