Exploring Business Success In UAE With Firose Khan

CEO Firosekhan’s Insights on Business Growth in the Gulf

 

Hello everyone, and welcome to another insightful episode of the Profound podcast. Today, we are honoured to have a prominent figure in the business setup industry with us, Mr. Firosekhan, the CEO of Profound Business Service. Join us as we explore his entrepreneurial success and the innovative strategies that are transforming the business landscapes in the Gulf region.

As a prominent figure in the business setup industry, could you share the story of your journey?

I have started my career in UAE since 2006 first I worked in an audit firm but mainly we were doing company formation services on that time you know 2006 and 2008 was the Golden Era of Dubai lot of company formation was happening every day 10 to 15 companies we were for I have got a lot of experience and different free zones Mainland where we have to open the company including the offshore where I have started my career and that experience begin then after getting that type of experience and everything 2010 we have started this journey.

What do you foresee as the upcoming trends in company formation?

Well in Dubai as you know Dubai is a global hub for investors Centrally  located all over the world easy to reach so investors wanted to invest in Dubai for different reasons also it’s a investor friendly country whether it is tax also we can have u 100%percentage ownership in Dubai without having any locals in the trade license so and there are lot of different types of companies we can start it even if I say there are an option to open the company from 1,000 Dirham onwards.

We understand you manage business setup and visa processing across Dubai, Abu Dhabi, and Saudi Arabia. How do you manage these responsibilities across the different regions?

We have a great team team work is the dream work without the team support anybody cannot do anything first of all I have to say the team has helped me if it’s a previous team or the current team they are helping but if it is in Dubai Dubai company formation we have a very good team including lawyers we are having Plus in Abu Dhabi also in Saudi that team me members are helping one thing also I do want to say the clients who serve us are giving more business so even though we are having a strong sales team we are getting lot of reference from the existing clients also that’s because of the operation teams efficiency so this is the formula which we are doing that help the clients very well then they will bring the business.

As the new Director of Marketing for the Dubai Business Professional group, what are your expectations for this role?

Dubai professional business group is the collaboration between the company formation and government transaction centres so the investors and the senior managers of this group need a platform to discuss about the challenges in the market what all new updates are happening in the market so this group in future will be working with government authorities what all changes in UAE has happened and everything where see now one thing as a company formation adviser the investors are approaching us to get right advice and right information so when the governments are giving the right information to us we can convey to the investors the right advice where they will also get benefit also the Dubai also will get the benefit that is our mission.

Can you describe your experience with BNI (Business Network International)?

Which is Business Network International since 8 years I member of BNI is the largest network group all over the world in BNI, we are getting lot of connections reference also it is that people that members are going to become like a family if I wanted to get a connection when I am telling in the group that people are give me that type of connection and I have got an amazing journey of 8 years. We got lot of good friends and I have learned lot of things with their education program

How do you support investors in making a business plan or their dream come true?

As an investors they’re having lot of dream but sometime they will not have clear picture how to start where to start we can say that one they they will just say that one I do want to open a company but what is their vision for 2 years 3 years so when we are meeting a customer we will ask some questions based on that question we will advice some this will be your right du decision and as an investor initially they will think about the cost only how to reduce the cost but when they approach us not only we are saving the cost in future what all things which they need to take care all this aspect we will analyze and we will make it happen it’s a Tyler made situation.

How can formation in dubai help you save money on taxes or added cost?

UAE has introduced corporate tax but even UAE is having value added tax but when we compare it with theinternational standard it’s only 9% also there is a gap of 1,00,000 $ if they are having profit more than that one only we need to pay the corporate tax apart from that lot of free zone designated free zones are there they are Exempted for tax so even though it’s a tax regime but there are lot of support from the government for this investors even peoples have Exempted to pay the corporate tax 

We have a great Mission now first of all I do want to praise the God for whatever the the things which we got it because we have started with the 150 ft office currently we are having more than 8,000 square ft including Saudi it will come more than 10,000 ft office area we are having plus we are having around 81 member team we are having currently in future the down line around by 2035 we wish we may have around 500 members team plus we will have offices at all the Emirates in UAE as well as all the GCC countries presence that’s our vision more than that we wanted our aim is we wanted to give right advice right information and with right price we do want to cater the invest.

Thank you for joining us on our podcast today, Until next time, stay informed, stay inspired, hit subscribe and stay profound!

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