Outsourcing Can Do Much More Than Just Cut Costs
Outsourcing is the practice of having certain job functions done outside a company instead of having an in-house department or employee handle them; functions can be outsourced to either a company or an individual.
Outsourcing can be defined as “the strategic use of outside resources to perform activities traditionally handled by internal staff and resources." Outsourcing is a strategy by which an organization contracts out major functions to specialized and efficient service providers, who ultimately become valued business partners.
Why Do Companies Outsource?
There are many reasons why a company may choose to outsource certain business functions. Some of the most common reasons include:
Reducing and controlling operating costs
Improving company focus
Gaining access to world-class capabilities
Freeing internal resources for other purposes
Streamlining or increasing efficiency for time-consuming functions
Maximizing use of external resources
Sharing risks with a partner company
Outsourcing is also known as Business Process Outsourcing (BPO). This is the process of hiring another individual or company, either domestically or internationally, to handle business activities for you. It has become a common business practice that allows small and medium-sized businesses to gain services and skills they would usually find hard to develop, because of either financial or manpower restrictions, or possibly a combination of both. Meaning, you can grow your business as and when you need to, without any major investment.
It also allows your business to focus on core competencies and, more importantly, cut costs and improve efficiency, all very much hassle-free. As time has gone by over the last decade or so, business owners now realize that there are many reasons that companies, both big and small, outsource various jobs, but the most prominent advantage seems to be the fact that it saves money.
Outsourcing also allows companies to focus on other business issues while having the details taken care of by outside experts. It also means that a large amount of resources and attention that might fall on the shoulders of management professionals can be used for more important, broader issues within the company – which is always a good thing! The specialized company that handles the outsourced work is often streamlined and will normally have world-class capabilities and access to new technology that a growing company simply couldn’t afford to invest in on their own. Plus, if a company is looking to expand, outsourcing is a cost-effective way to start building foundations in other countries, too.
Why to outsource Oneworld Mideast Ltd as your business partner?
Oneworld MidEast (OME) operates in Dubai since 2012 and we are located in own offices in Business Bay, a prime business location in Dubai. We are a boutique firm providing niche services to clients which include corporate and trust, global compliance, tax and legal, business advisory, financial advisory and family offices.
We assist with the formation and management of corporate and trust services for professional intermediary and private clients. We manage onshore and offshore companies, trusts, foundations and other business structures to meet the individual demands of our clients. Broadly put, these demands include corporate re-structuring, wealth and asset protection and international expansion. We are also able to give tax planning, financial and investment advice.
Company Formation and Administration
We register companies in the UAE which include RAK offshore, free zone, local companies and branches of foreign companies.
• Set up Offshore companies (RAK)
• Set up Free Zone companies (FZ)
• Set up local companies (LLC)
• Set up of UAE subsidiaries/branches, 100% foreign owned
• Local bank account opening
• Support services including translations, commercial and legal contracts, local agents and service agents, government services etc.
We also arrange to register companies in other key overseas jurisdictions which include British Virgin Islands, Cayman Islands, Belize, Seychelles, Cyprus, Greece, Italy, Switzerland, Bahamas, Mauritius, United Kingdom, Netherlands, Austria etc.
Corporate and Trust
Our lawyers and experienced secretarial executive scan set up trusts in the UAE and other jurisdictions and render on-going corporate support and compliance services. We provide a wide range administration services for the day to day operations of clients which are tailored to suit each client’s specific requirements. Our team of qualified accountants can undertake accounting and financial management work according to your needs and in compliance with prevailing accounting standards.
• Corporate Secretarial
• Fiduciary and Nominees
• Set up Trusts
• Company Administration
• Accounting, Payroll and Reporting
• Bank account opening and Management
Business Succession and Asset Protection
We advise you to all aspects related to inheritance and business succession. If you own a family business, retirement is more than a matter of deciding when to go. Business succession planning ensures a smooth transition and avoids ownership and control issues. We address inheritance issues for Muslims and non-Muslim nationals ensuring our clients know all facts and can make optimal decisions. We can prepare for you a will which declares your intentions as to what should happen to the distribution of your assets, upon death and much more.
• Business Succession
• Trusts and Foundations for Asset Protection
• Inheritance for Muslims
• Inheritance for non-Muslims
• Estate Administration
Our business consultancy services include the provision of PRO services in the UAE. We perform this
work for corporate clients and for individuals in the UAE.
• For Families, SME and Companies
• Processing, renewal of employment visas andl abour cards
• Visa Transfer, visa cancellation and medical tests
• Maid visa processing and cancellation
• Transferring Free Zone visas
We can assist in transforming your corporate goals to reality. We can identify potential acquisition targets, joint venture opportunities, provide expert guidance on the preparation of technical documents including prospectuses and business reports. Our teams work with you to develop strategy and prepare you for your next steps.
• Treasury Management
• Corporate Finance
• Financial Due Diligence
• Mergers and Acquisitions
• Financial Reporting
Dubai Courts Support Services
Investors in the UAE have to go through various legal procedures in order to set up companies in Dubai.
In addition, there are several legal matters which businesses face from time to time.
• Power of Attorney drafting and notarizing
• Memorandum drafting and notarizing
• Agency Agreements
• Civil Agreements
• Special Powers of Attorney