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Debunking Myths On Setting Business On Free Zones

Free trade zones are haven for a lot of business owners as this business district provide numerous benefits to entrepreneurs, especially those who are just starting their trade.

However, there are still some myths lingering around that prevents would-be entrepreneurs to try. To fully informed, here are some myths about doing business and free trade zones and the truth behind it:

 

Myth 1: You have no control over your business

In some locations, foreign nationals are not allowed to have full control of the business they set up. They need to have local sponsors that would be the major shareholders of your company. Which is why some expats and foreign investors are discouraged to set up their business in foreign waters.

But that is not the case with Ajman Free Zone company set up. Foreign business owners are given the liberty to take full control of the business they set up on the free zones. No need to look for local sponsors to share operational control on the company to be allowed to operate. They have free reign on their business as long as they meet the requirements.

Myth 2: You still have to pay taxes

One thing that business owners in Free Trade Zones or FTZ is the tax haven. Major tax breaks are given to businesses so they can allot their business funds on improving their business or expanding their reach. This is one of the reasons why a lot of business owners are encourage to go for Freezone company formation in Dubai.

However, there might be some changes on this policy but the expectations are the corporate taxes that will be implemented to businesses is much lower than those who are not in the free zone business area.

Myth 3: You cannot control the profit

This myth is related to the first one. Since you are in full control of the company or the business, you are in no obligation to share your profit to anyone, not even to the state. You have 100% control of the company finances, as well as the profit.

If you are a business or a company with a couple of investors, it is expected that you will share the profit with them. Also, if your business have branches outside the FTZ, another scheme might be applicable based on the branch location.

Myth 4: Office space is still required

With regards to the office space, that would depend on the FTZ area. There are still some FTZ that requires business owners to set up physical address for their businesses, while there are some who don’t require business owners to set up one. It would be best to check with the FTZ policy to be sure.

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Purpose Of CCTV Installation

Whether it is your home of workplace, your premises requires sufficient security these days. There reasons to acquire adequate security are many. With crime rate reaching an all-time high, security has become the most pivotal factor. It ensures that your premises, be it commercial or residential, stays safe. Enhancing security is extremely important, which is why you often find people inquiring their security options for one reason or another.

A noteworthy point these days is the level of security that your premises needs. Have you ever thought about investing in the security of you place? if not, now is the time to do so. Fortunately, there are several options to choose from. From state of the art locks to CCTV cameras, every option is designed to give you the best value of your investment. Here is more on why choosing the best CCTV installation companies in Dubai will best serve your security needs:

Safety

When you are looking to give the best security to your premises, you should try to keep certain factors in mind. Firstly, look into the feasibility of your security system and know the benefits of each system. For example, CCTV cameras provide your premises non-stop round the clock surveillance capability. Make no mistake about the fact that these cameras offer state of the art security to your place. Having cameras around your place means you can keep an eye on your premises all the time.

Thanks to the advancements in modern technology, CCTV cameras now offer a plethora of features. They allow you excellent visual quality regardless of what the weather outside looks like. They work flawlessly during rain and foggy weather too so you don’t end up losing visuals for any reason. In case you want to look how cameras were performing the previous week, just go to the folder and check video on that date. Similarly, thanks to high definition resolution and advanced macro mode, the cameras work equally well during pitch black night. In short, these cameras a so proficient at what they do, they allow you to examine each and every part of your premises.

Interestingly, modern CCTV cameras can be incorporated with a number of other security solutions with the help of a CCTV camera company in Dubai. You can add them with security alarms and automatic locks. The moment someone tries to enter premises, the camera will capture the image, identify the person through face recognition and will decide whether or not allow entry.

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How Retailers Benefit from Document Management

Retail organizations are complex entities, with multiple locations and the need to share data around the clock. The mountainous paperwork, synonymous with retail business, poses a dilemma of maintaining compliance, especially in its accounts payables, contract management, human resource department and other content intensive areas. The staggering costs, incurred during storage, retrieval and organization of documents, as well as manual processing, is detrimental to the success of the business and unconstructively impacts performance.  A business solution must cope with these demands, in addition to integration with already implemented systems.

Documents, such as Sales invoices, proof of delivery, AP invoices, customer files and human resources, need to be properly organized and indexed to facilitate costs, search and routing. Retailers are in dire need of incorporating document management in UAE systems in their business processes to streamline workflow with one easily supported application. Starting with a single solution or document, you can expand as budget, goals, and time permit.

A Document Management solution enables organizations to improve internal processes, capture paper or electronic business content, and show significant gains across all departments. The explosion of paperwork coming from staff HR records, purchase orders and supplier invoices creates great hurdles, in terms of the voluminous bulks.

Document Management Software; a blessing for the Retail Sector

Storage, protection, up-to-date current data and permission based access are indispensable to the success of a business and have a direct bearing on administration, compliance, customer loyalty, production, finances and profitability. The cost of paper based documents, as well as the overheads of storage space, proves to be a nuisance for a paper-intensive business.

Retailers are in need of a comprehensive document management solution which stores all their data in a centralized location and integrates with all the other business applications, such as HR Record management, payroll, accounts payable, Logistics DM, proof of delivery, purchase invoice processing and Vehicle records, and subsequently allows you to deliver your compliance and audit requirement. Even if you don’t rely on financial accounting outsourcing services, a document management system takes care of your needs.

Document management software optimizes contract management as the dependence off paper work streamlines processes. It also boosts up accounts and financing by promoting efficient inter department processing, prudent decision making and facilitating employees to share pertinent files easily. By providing users with remote access to the business documentation, through a cloud based infrastructure, the employees have access to all the information anytime, anywhere in the world.