FAQ
1. Who is bringing business to the region
a. From all corners of the globe
b. Individuals & corporate
c. 7,500 new companies registered by DDED in first 6 months 2007.
d. Active sectors
i. Oil gas and energy 40%
ii. Real Estate
iii. Financial, investment and banking
iv. Service providers to real estate, energy and financial sectors
manufacturers of construction materials like cement, steel and paint.
2. Why?
a. To take advantage of Economic Growth in the region:
(source UAE central Bank)
i. Dubai 2006 GDP $163b, growth 23.4%
ii. UAE Oil and gas revenues increased by 29% to $61b
iii. UAE Non energy sector revenues 60%
iv. UAE bank assets increase by 35% to 234b
v. Per capital GDP 2006 $33,000 growth by 2011 $54,500
(Economist Intelligence Unit)
3. What is the impetus for most companies in setting up in the UAE?
a. Geographical advantage
b. Modern and comprehensive infrastructure
c. Tax Free
d. Free Zones
e. Cheap labour
4. Challenges newcomers to the region face?
a. Rush in without appropriate advise
b. Not what you know who you know
c. Trust based business culture
d. DBH : makes establishing a business in Dubai easy for investors by providing comprehensive market intelligence and introduction to the right partners.
5. How expensive is company formation?
a. More expensive than Europe but cost of running a business is much less
b. We can advise on most cost effective ways of establishing a company
6. How long does it take for a new business to become functional?
a. It depends on the type of business. Dubai Business help can establish a company with two to four days.
7. How different is the operating environment to Europe?
a. Operating environment here is completely different from that in Europe
b. Operation cost on average is over 10 times higher in Europe
c. The cost of the manpower, tax and even rental and energy price difference make the UAE a more favourable and attractive destination for running large operations
d. Dubai is open for business 24/7. 90% of the works are expats who have only one goal to maximise their earning in minimum possible time and they work flat out for it.
e. Competitive
8. What are the common mistakes companies make in setting up in the UAE?
a. Business planning mistakes are very common
b. Good advise
c. Market research
d. Budgeting and finance options
e. Underestimate competition
f. A common misconception is that a free zone company is better and investors refrain from having a local partnership-based company. We as business advisors can help them choose the right business platform.
9. How sustainable do you think the pace of growth is in the UAE?
a. Low risk economic environment gives a peace of mind for producing long term business plans and looking into long term investment returns.
10. What is the general business climate like for new foreign investment?
a. Very favourable. climate will still remain mostly favourable for the energy, construction and manufacturing sectors and associated facilitative businesses.
b. Dubai FDI $11b (6.7% of GDP)
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