The United Arab Emirates is a land of golden opportunities. Many businesses have prospered and grown to new heights in this country because of the sheer magnitude of business potential in the region. In addition, the UAE opens up global markets as it has close ties with the rest of the Middle East which has giant markets such as Saudi Arabia, Qatar and Kuwait, as well as to the American and European markets. But there are a few unwritten rules that can decide your business’s success or failure in this market. Here are some of the key deciders when it comes to determining whether or not your business will make the cut;
1. Proper Communication of Specific Laws
The laws by which you will have to abide in the United Arab Emirates may be quite different from the ones in your home country which you are used to. Islamic law comes into play in almost all business dealings in this country, and therefore you will have to become acquainted with the regulations that you need to abide by as a new company entering the UAE market. Also, you will need to get legal translation Dubai done through a sworn translator on all your corporate documents to Arabic if they are in any other language, as this is one of the basic requirements when drafting contracts and making business deals here. Failing to do so can result in you not properly understanding the laws by which your company needs to abide, which can lead to the breaking of these laws and even the termination of your business contracts.
2. Submission and Archiving of all Necessary Documents
Before you can begin your business operations, you will have to submit certified translations of all required corporate documents to the regulatory commission and other governing bodies. You will also have to archive these documents for future reference so that you may use them when your business contracts need to be revised or renewed. If you are unable to submit these documents in a timely manner, your business may not be allowed to operate within the region, so it is absolutely necessary that you do the documentation on time and not take this process lightly. Consult with local experts and authorities to find out what documents need to be submitted and how you can get them translated to Arabic.
3. Maintaining Trust and Credibility
As with business in any other part of the world, maintaining your trust as a business and as an entrepreneur is very important, even more so in the Middle East. The Arabic world values a person’s credibility and associates an individual’s personal attributes and traits with his business. You must be capable of “keeping your word” when it comes to performing business transactions. The ability to maintain the confidence of Middle Easterners is regarded a special skill and it is highly respected in this part of the world. This is especially important because once the trust or confidence placed in you is broken, it will be very difficult to be regained.