Specific features of doing business in the UAE

If you start a business in the UAE, it will give the following advantages:

• Developed infrastructure. There are many real estate properties in the Emirates. It will be easy to find commercial and residential premises for work and living.
• Free economic zones. There are about 30 of them in Dubai alone, including zones where offshore companies are allowed to register. It is possible to choose a zone suitable for business. Free economic zones make it possible to establish production facilities with direct access to sea and air communications.
• Geography. The Emirates are located between Europe and Asia. They have developed communication with the largest airports in the world. Business in the UAE will be able to carry out direct delivery of goods to any country.
• Taxation. There are no taxes that exist in Russia, e.g. income, profit, VAT.
• Absence of corruption and bureaucracy. You do not need to have connections or bribe somebody to be able to develop a business in the UAE. Entrepreneurs have equal conditions and success is achieved by those who have an interesting idea, attractive offers that will interest consumers. So, everything depends solely on the businessman himself and the well-coordinated work of his team.
• No restrictions. This concerns the export of profits, the exchange of currency, the movement of capital.
• Safety. In the UAE, crime is poorly developed due to harsh laws and well-functioning police.
• Reliability and favorable terms of banking operations. There were no cases of bankruptcy and closure of banks. Financial institutions in this state are among the TOP 100 banks in the world. There is no limit on transactions (no more than $15), regardless of their size.
  Minimum number of checks. In this regard, everything is set up, responsibilities are clearly distributed and assigned to a certain supervisory authority.
• Entrepreneurs are not limited to operating in one emirate such as Dubai. Foreign businessmen can start a business in Abu Dhabi, and Ras al-Khaimah, and Sharjah, and Fujairah, and Ajman.
• Simplified accounting. It won't be difficult to sort it out.
• Stable exchange rates, namely euros and dollars.

However, there are also disadvantages of doing business in the UAE:

Serious checks are accompanied by the establishment of a paying account. If you do not apply properly from the first time, then you will not be able to do it to the same financial institution.
Business should be transparent.
There is no clear regulation at the legislative level in the field of intellectual property.
Not in all cases there is a "one window" system. This is the concept of simplifying the trading procedure, which allows an international trader to provide information to a single agency. We have to apply to several instances located in different places.
Starting any business in the UAE takes from 3 days to 3 weeks from the date of application. However, it should be borne in mind that initially it is necessary to prepare documentation. For example, it will take a month to open a bank account. Therefore, is should be kept in mind that everything will take at least 2-3 months.

Opening a business in any direction in the UAE can become a business that brings income. But it should be borne in mind that there are some difficulties:
To do business, you need to be in the Emirates to control everything. At least until it "gets on its feet", after which it will be possible to entrust your business to the manager. During this time, you will need to rent a house, and this is not cheap. Rent on average costs $1,000-3,000 (depending on the square footage area). If there are children who will move with you, they need to be placed in school. Education in educational institutions costs about $1,650 per year. In private and international schools, the price is $3,000-17,000. You’ll have to pay $50,000 for university education (bachelor's degree), and $15,000-23,000 for the master's degree.

We must not forget about the characteristic features of the state. They do not only refer to everyday life, but also to business in the UAE. We are talking about the traditions and customs of the state of the Middle East, which must be observed. For example, when meeting with partners, say hello first to the older one. Arabs like it when foreigners respect their customs, so the peculiarities of the state need to be carefully studied. It’ll help to know a few greetings and farewells in Arabic and to understand their meaning so that their use is appropriate. Unlike European entrepreneurs, Arab businessmen are more sociable. It is customary for them to visit their business partners with gifts. There is no need to refuse the offered drinks and treats. This will be regarded disrespectful. You should be ready that the negotiations will take more time than they usually do. Arab businessmen like to discuss topics apart from business, due to which the meeting lasts longer hours. You should not be impatient and rush your opponents, this will be a sign of disrespect, because of which the negotiations may end with an unfavorable outcome.

Observe the dress code. Arab businessmen often wear national costumes. Of course, they do not require the same from foreign partners, on the contrary, it is not recommended to do so. However, the Arabs expect them to adhere to a restrained and business-like style. This is also important for women. There should be no short skirts, wide neckline, open arms. This applies to all employees working in your company, with whom partners may intersect.

At first glance, it may seem that everything is clear. But in order to be able to organize a business in the UAE you need to understand the legislation of this state, take into account all the rules and requirements. Otherwise, the process may be delayed.

UECG will help to speed up and simplify the registration of a company in the United Arab Emirates. We will take care of everything that will save you time and effort. Everything happens in several stages:
1. Consultation, assistance in selecting the option of starting a business. After agreeing on all the points, a contract is made.
2. Providing information. We will provide detailed information you need when starting a business in the Emirates.
3. Paperwork and company registration in the UAE.
4. Opening a bank account.

With us, it will be possible to open a company in the Emirates in just a week. Our employees will protect you from common mistakes that entrepreneurs make. Those mistakes, as a result, lead to problems with registration, large overpayments during registration. When contacting us, entrepreneurs, who are willing to enter international arena, to reduce the tax burden and not to become a victim of bureaucracy and corruption, will benefit.