The World of Business

Dubai is a comfortable environment for foreign businessmen and packed with qualified people possessing not only an impressive understanding of local business practices but also international businesses. In addition to speaking Arabic, the vast majority of business people speak fluent English. Moreover, Dubai is home to a number of foreign businesses including banks, lawyers, and business consultants. In addition to these private resources, the Department of Tourism and Commerce Marketing, The Economic Department, the Chamber of Commerce and Industry, and the Jebel Ali Free Zone Authority are all available to help business people wishing to enter the market.

Dubai is home to a transport infrastructure that is significantly better than any other in the region not only in size and facilities but also in efficiency. More than 100 airlines and shipping lines serve the emirate.

There are also a number of structures for modern and efficient communication including one of the most modern postal and telephone systems in the region. Moreover, Internet usage is well established in Dubai and the government has made developing portals a priority.

With the exception of oil producing companies and branches of foreign banks, the government of Dubai does not levy any corporate taxes. Historically speaking, all members of the United Arab Emirates are opposed to direct taxation and as such there is not currently any personal taxes in Dubai nor is it likely that any will be developed in the future.

Despite general cultural differences between Arabs and Europeans and Americans, trade practices in Dubai are not noticeably different than in any other sophisticated, international jurisdiction. Also, the UAE, and Dubai by extension, signed the General Agreement on Tariffs and Trade (GATT).

As a rule, business correspondence is either in Arabic or English.

In general payments within Dubai are paid via letters of credit.

Foreign companies and individuals are compelled to rent or lease properties for the purpose of conducting business and are prohibited from owning land or real estate in Dubai.

Finally, Dubai has an extensive collection of legislation written to provide an environment where business can be conducted in a just, efficient manner. This legislation deals with items ranging from commercial transactions, intellectual property, labor and other aspects of business life.

Privacy

At this time Dubai has neither signed a Treaty with the United States nor has it signed a Mutual Legal Assistance Treaty with the US. Moreover, Dubai is not a participant in the European Union Savings Directive. As such, Dubai offers a high level of privacy for both EU and American citizens. Moreover, American investors are able to maintain a high level of asset security thanks to the lack of a Mutual Legal Assistance Treaty between the US and Botswana. Overall, Dubai has shown a strong commitment to maintaining the privacy of its foreign investors.