While there is an incredible number of opportunities for business in the UAE, it’s important to understand that the rules for doing business there are very different than what you might be used to. Read on to learn more and make sure you are on the right side of the rules to get the most out of all your business efforts.
- 1 #1: Government Bureaucracy Is An Entirely Different Beast
- 2 #2: Get Familiarized With Work Visa Regulations
- 3 #3: Understanding The Right Partnership
- 4 #4: Learn Local Business Culture
- 5 #5: Research
- 6 #6: Understand UAE Incorporation Options
- 7 #7: Your Embassy Is Your Friend
- 8 #8: Schedule Around Holidays
- 9 #9: Be Flexible
- 10 #10: Choose The Right Legal Entity
#1: Government Bureaucracy Is An Entirely Different Beast
You’re always going to have to deal with the government when doing business internationally. You don’t want to wing this. Look for professional advice familiar with the specific legal, procedural, and bureaucratic challenges you are sure to face. Here are some good tax tips on the UAE from Vat Global.
#2: Get Familiarized With Work Visa Regulations
A visa isn’t a visa. There are massive differences between the requirements for a regular tourist visa and those that are put out for a work or investment visa. It’s important to make sure you have the right type of visa before proceeding with any business venture.
#3: Understanding The Right Partnership
When preparing an LLC company that can work in the UAE despite having international or foreign partners, you want to make sure the paperwork is legally done and properly formatted, and any partnerships need to be carefully reviewed to make sure you’re not at the mercy of any given individual. Proceed with caution.
#4: Learn Local Business Culture
The UAE is an area where culture and business culture matters a lot. This is a relationship culture, and understanding the importance of learning a few words of Arabic, building a friendly rapport, and other similar actions make all the difference. Show of effort and relationship building matters a lot. Learn the ins and outs of that.
Research, research, research. You can’t research too much, especially in your market area.
#6: Understand UAE Incorporation Options
There are many different ways to incorporate in the United Arab Emirates and it’s important to know which option is going to be best for you. You want professional advice from individuals who thoroughly understand the type of business you are doing as well as the specific trade licenses you need in order to do that specific type of business legally in UAE.
#7: Your Embassy Is Your Friend
Every expatriate should register with their embassy as a normal course of action anyway. Make sure your local embassy knows you’re there, why you’re there and has all your contact info.
#8: Schedule Around Holidays
Every nation has different important holidays both religious and otherwise on their calendar – and some of these differ date-wise from year to year. Look at Eid Al-Fitr & Eid Al-Adha as two major examples. Sundays are not religious days in the UAE but a work day, and because of the extreme temperature, many places have split hours. Learn these, memorize them, and plan around them.
#9: Be Flexible
Always good advice. However, if you’re going to do business in the UAE being flexible and patient will make everything run a lot more smoothly.
#10: Choose The Right Legal Entity
There is no more important step in doing business with your company in the UAE. Have a trusted professional to guide you through this process from making the decision to making sure your licenses and paperwork all line up with that particular setup.