Priorities before starting a business in the UAE Business Essay

Priorities before Starting a Business in the UAE
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Priorities before Starting a Business in the UAE
A majority of foreign investors consider the United Arab Emirates (UAE) as a good place for doing business. With the UAE consisting of seven Emirates, business people should ensure they understand what each Emirate requires. When starting a business in the UAE, it is critical to undertake groundwork to ensure that the business not only thrives but also stays on the right side of the law. Entrepreneurs should consider business activity, culture, and etiquette before commencing a business in the UAE.
Firstly, business people need to determine the type of business they want to establish. The type of business activity will determine the licenses needed. For instance, a commercial business will have a different license from a professional business. Determining the type of business will assist in pursuing the right license needed. Further, not all businesses are allowed in the UAE. For instance, all forms of gambling like lotteries, betting shops, and casinos among others are prohibited (Dubai.com, 2020). It is also illegal to create and distribute magazines and videos with pornographic content. Other businesses may be allowed but need additional approvals from the respective government departments. For instance, Dubai, through the Department of Economic Development (DED) outlines the different activities entrepreneurs can choose from.
Secondly, individuals should consider the culture of the UAE. The legal system in the UAE is majorly based on Islamic law (Kyriazi, 2020). However, it is critical to appreciate that the UAE is considerably modern compared to the rest of the Middle East region. Hence, there is a form of a westernized approach in business. Nevertheless, foreigners should be aware of the fundamental differences that exist. Entrepreneurs, especially westerners should learn some aspects of Islam before embarking on the region. For ...