For many years, the United Arab Emirates has received international recognition as a business-friendly nation. Through its many free zones, the UAE allows foreign companies to establish businesses and access highly attractive benefits such as zero federal income tax. Here is a brief overview of three key business procedures in the UAE.
Imports and exports: Based on the Gulf Cooperation Council’s tariff structure, the UAE employs a liberal trade policy designed to increase the overall volume of international trade. In the UAE, customs is a highly facilitated process that requires just six documents, three signatures, and 18 days to move items from a UAE port to a warehouse.
Commercial activities: Before a foreign company begins importing and selling products, it must appoint a commercial agent in the UAE. The agent must be a UAE national and register with the Ministry of Economy.
Dispute resolution: In the UAE, arbitration falls under the jurisdiction of the UAE Civil Procedure Code, Federal Law No. 11 of 1992. The UAE currently plays host to two arbitration services: the Dubai International Arbitration Centre and the Abu Dhabi Commercial Conciliation & Arbitration Centre.