Doing Business in Dubai

Dubai has a reputation for being one of the most breathtaking cities in the world, but underneath that there’s a very serious business world. People from around the world do business in this city and, in fact, that is one of the major ways that the city has oriented its development. While the infrastructure may be marvelous, the city is also renowned for a business reputation that emphasizes discretion and that has proven popular with offshore companies.

Free Zone Companies

Dubai has a system of free zones that allows for 100% foreign ownership of the company. Theses free zones can be taken advantage of in the way that most offshore destinations allow businesses to set up. You will have to have a local agent to register the business and set up an office. There are some real advantages that free zone companies enjoy.

There is no requirement for minimum capital and that capital can be divided into any denomination the company sees fit. The offshore companies enjoy complete freedom from taxes and duties. The companies can also take advantage of Dubai’s renowned banking system and, unless the authorities have some reason to suspect that something below the board is going on at the company, financial audits are generally not requested by the government.

The free zone companies in Dubai include ones owned by investors all over the world and, for offshore companies, there are really few options of Dubai’s caliber.

What Supports Business in Dubai

Dubai company formation for offshore entities is relatively similar to what is required in other nations. It’s what this city offers that draws so many business to establish a base of operations in the Middle East in Dubai.

Dubai is a very modern city, by any standards. That means that there is plenty of space for businesses to set up. Those businesses that want to hire local employees will find no shortage of very skilled individuals who want to work for prosperous and growing companies. The city itself is very positive toward free trade, so there are no cultural barriers to overcome. Dubai wants businesses to locate within the city, so it works very hard to make it as easy as possible for them.

Doing Business Dubai Style

The Dubai lifestyle might be defined by fast-moving, large-scale business, but there’s a very personal touch here. As Fodors points out, business here tends to start with a casual meeting. People like to know one another beyond making deals.

People here are serious about business, but it’s not on a clock in the same way that you might imagine London or New York to be. People tend to show up around the time a meeting is scheduled and multitask during meetings. Don’t be offended by this; it’s just part of the culture and it’s actually very liberating for most businesspeople from other parts of the world.

Dubai is an international city with a very modern feel, but there’s a great deal of tradition underneath it all. If you’re going to do business here, be prepared to be impressed with what Dubai has to offer, from the no-nonsense, efficient offices to the friendly, personable people you’ll be dealing with.