Advantages of setting up a business in the UAE

“Mashreq’s customer service is very impressive and they have managed to dazzle me, quite a few times, with their expeditious and prompt service”
- Sanjeev Mathur of Mathur Project Management Consultancy FZ LLE.

Experts say business is all about location, location and location. And when it comes to the UAE, it really can’t get any better. Easily accessible from the Americas and Europe or from India and the Far East, there’s really no better place to do business from. When Sanjeev Mathur realised the potential advantages of basing a business in the UAE, he left his job and set up Mathur Project Management Consultancy FZ LLE towards the end of 2010.

The company focuses on providing cutting-edge management consultancy services to European corporations specialising in the marine and cargo handling industries. “One of our most sought after clients is Bedeschi – a 100-year-old company based in Italy. They manufacture equipment for the brick, cargo handling, mining and marine sectors. Another division of our company also manufactures all kinds of air pollution control equipment.

We assist the company for their marketing and sales requirements in the Middle East, India, Far East and Australia”, says a proud Mathur. Consultancies often do not require a large startup capital. Hence Mathur did not rely heavily on a financial institution in the beginning, but turned to them once the business took off.

From the very beginning, I was clear that my business has to be insured. Good business insurance is an absolute necessity while dealing with markets around the world. Banks need to recognise the insurance needs of clients and their business to structure their products accordingly. That’s why I chose Mashreq as my banking partner. Their benefits are brilliant, charges are transparent, absolutely no hidden charges or uncalled for surprises. Mashreq’s customer service is also very impressive and they have managed to dazzle me, quite a few times, with their expeditious and prompt service”, he praises.

Mathur also feels that, “The UAE’s SME industry is particularly business friendly. It is really easy to set up a business establishment in the UAE, both in a free zone as well as with the Department of Economic Development, Government of Dubai.

The requirements are very straight-forward and well laid out. Once the documents are submitted, it takes very little time to get all the licenses and paperwork in place and business dealings can be commenced immediately. Being a tax-free regime also helps in keeping the dealings straight. But nothing can prepare you for an unwelcomed surprise. That’s why there is really no substitute for good business insurance. “It’s been a wonderful three years and business has flourished.” But Mathur is waiting for the world economic situation to iron out before he can roll out his expansion plans. Even now, his business is not without challenges. Since we cater to businesses around the world, we transact in many different currencies.

Mashreq has always given us the best rates. The overdraft facility is definitely an additional level of comfort. I have recently enrolled for Business Insurance from Mashreq. This was primarily for business continuation and to protect the company against any unforeseen eventuality. I have to say that I am very happy with this product and its offerings. I’m looking forward to working closely with them once I begin to expand my business, says a very impressed Mathur.

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