04 Mar Emirates UAE
I am doing Business in Emirates U.A.E.
The United Arab Emirates is made up of seven Emirates. Its population is 80% expatriates. Because the U.A.E. has such a diverse culture, it is home to communities from almost every country. It is not as easy to do business in the U.A.E. as in Canada. However, language experts can help you bridge cultural and language barriers.
The U.A.E. is recognized as a regional and mid-power because of its rising profile. According to I.M.F. predictions, U.A.E. will be the second-largest Arab economy behind Saudi Arabia (in current prices). The U.A.E. is the leader in international trade and business in the Middle East. It is also a member of the United Nations, Arab League, and the Gulf Cooperation Council. The banking and finance sector in the U.A.E. is highly developed, with both local and international banks offering a full range of services.
Because they speak more languages than Arabic, this market is a melting pot of cultures. It takes a lot to get into the market. This is where business translation comes in. Everything you do in the U.A.E. must be translated, from your brand message to customer reviews. This is what you should keep in mind, aside from localization.
Understanding the Languages for Doing Business In The U.A.E.
The Arabic language is the most widely spoken in the U.A.E. They speak French, Russian, Hindi, and Spanish. Moreover, English is their business language. Depending on the business activity, the company or branch may be entirely owned by foreigners.
The U.A.E. government is developing regulations procedures and reducing costs and time to do Business to attract foreign investment and enterprises. Because the U.A.E. government and foreign oil corporations will attend, it provides an excellent opportunity for U.K. companies to explore new business opportunities.
All official documents are issued in Arabic because it is the most widely spoken language used by the government. It is good to hire professional translators and interpreters to help you with legal and technical documents. But in terms of communication, Arabic is the official language. However, English is commonly utilized in business meetings and transactions throughout the United Arab Emirates. Do you know that Eastern business people working in Dubai love a good joke as much as anyone and can be uproariously funny?
It is recommended to visit, meet with potential clients, and establish a local presence in this rapidly evolving market. Your host will rarely initiate business discussions, so start with a proposal and keep your descriptions brief and to the point. Moreover, business visitors can be sponsored by an employer with a business licence. In the Gulf, the U.A.E. has one of the freest trading regimes with well-established infrastructure.
The Business Council’s new ‘Doing Business in the United Arab Emirates’ guide helps American companies expand operations in the U.A.E. A conducive business environment, already considered a business centres opportunity, there are ongoing efforts within the U.A.E. to improve its ease of doing business ranking.
The U.A.E. offers opportunities for U.K. companies with innovative and cutting-edge products and services. U.A.E. government aiming to improve and promote local products globally, the strategy will provide “an attractive business environment for local and international investors to boost productivity.”The U.A.E., along with Saudi Arabia, Egypt, and Bahrain, severed diplomatic, economic, and commercial ties with Qatar in June 2017. It would be good to find a suitable local partner or approach other well-established Australian companies operating in the Middle East and expanding their Australian businesses. While this may be annoying for ex-pats from Europe or North American business environment, being patient (and understanding that most ex-pats are expected to be punctual) will help.
Over 5,000 British companies operate in the U.A.E., including BP, Shell, Rolls Royce, B.A.E. Systems, Mott McDonald, SERCO, Standard Chartered, HSBC, and John Lewis / Waitrose. Seven hundred seventy-nine commercial agencies and 4,762 British brands have invested in the U.A.E. The majority of the U.A.E. population comprises expatriates, with around 120,000 UK residents. It covers banking, capital markets, asset management, fund registration, Islamic finance, and professional services. Clients in the U.A.E. may now automate cross-currency payments into important trade corridors, enabling end-to-end visibility and full automation. “Our U.A.E. trade company is now over 80% automation in trade, up from around 54% a year ago,” says Khan. “I’m delighted to claim it’s our most automated market in commerce. Business competition is severe from emerging Asian economies and established European and North American companies.
The U.A.E. has a well-established infrastructure, a stable political system, and one of the most liberal trade regimes in the Gulf region. The U.A.E. market is attractive because of its geographical location (Dubai is a regional hub and commercial capital for the Middle East, North Africa, and beyond), colossal expatriate population, open trading policy, and administrative services. In the U.A.E., attitudes towards business cards are pretty relaxed. With a Western ex-pat or a local Emirati, you must respect and comprehend the Islamic religion, permeating all parts of society, including business life. If you are new to the country, start attending some of these to grow your business network. Every company operating in the country must obtain a company licence, which is linked to the entity’s registered activity. Misinterpreting culture can harm business relations with crucial connections abroad and jeopardize business success.
Healthcare Sector in U.A.E.
The healthcare sector is growing due to the following factors: stable population growth, high per capita income, increased health awareness, and rising prevalence of lifestyle diseases. The United Kingdom already has a strong market position, with world-class N.H.S. brands such as Imperial College, Moorfields, Kings College, and The Maudsley providing high-quality clinical services.
Women in Business in the U.A.E.
Women are getting more involved in Business in the U.A.E. Attitudes are certainly more tolerant of women in Business. Nonetheless, women hold only 5% of leadership roles in the U.A.E.’s private sector.
Legal considerations in the U.A.E.
For legal considerations in the U.A.E., you need to comply with the federal laws governing business activity, including the: Commercial Companies Law (CCL) Commercial Register Law Commercial Agencies Law Civil and Commercial Codes If you intend to trade or invest in the U.A.E., you need the correct authorizations and licenses. Each emirate may also have additional requirements.
Business Behaviour and Etiquette
Business behaviour and etiquette in the UAE UAE has a diverse and multi-cultural society with 80% of the U.A.E. population expatriates. Here are the main elements of business etiquette within the United Arab Emirates. A business strategy, planning, and decision-making in the U.A.E. are crucial. Although the business culture in the United Arab Emirates can appear quite relaxed, that doesn’t mean Emiratis aren’t strategic thinkers. Business visitors can be sponsored by an employer with a company licence.
Dress modestly and conservatively. Most Emirati men wear a kandura, an ankle-length white shirt, and most Emirati women an abaya, a long flowing black gown. That means a dishdasha for men (the long white shift) and an abaya for women (a floor-length robe) are must in U.A.E.
The Emirates demand formality. It is essential to address the rank and titles of your conversation with someone in the Emirates.
As-salaam Alaikum, which means “peace be upon your” in Arabic, is the most common greeting. If they don’t extend their hand, it’s best to avoid shaking hands.
Doing Business in Dubai: Why You Need to Localize
Dubai offers a business environment to enterprises of all sizes, in other words. Also, business indicators for Dubai are very encouraging. But it is crucial to understand the cultural differences between countries like the U.S.A. and the U.A.E. Although many Arabs can understand English, it is essential to communicate your products and services in Arabic when you engage with this market.
Business communication follows a very formal approach. If you don’t adapt your marketing to the local language, locals will quickly see your efforts as unfavorable. Everyone has an opinion about Dubai, but getting the appropriate business advice from professionals who serve businesses daily is critical. The business climate in Dubai is favorable to investors, and starting a business is not difficult.
Under U.A.E. law, business corruption and fraud is the fraudulent acquisition or receipt of money, goods, or real property belonging to another person. Fraudulent means must persuade the victim to hand over money, goods, or property. Dubai and Abu Dhabi’s growth as a vacation and business destination also produces a booming market for advertising and media.
Localization and business translation are two different ways to make the content feel natural to your target audience. It makes the content feel as if it was designed with their cultural preferences in mind. This shows that your brand is willing to adapt to new markets and flexible enough to meet customer needs. The barriers that language can sometimes create are removed by localization.
Localization ensures that your message is authentic to Arabic audiences. So avoid using overused Dubai clichés in whatever business collateral you distribute, from booklets to online event invitations. Extensive research conducted by you or a consultant can significantly aid in understanding the business conditions unique to each industry.
Are you planning to do Business in the United Arab Emirates (U.A.E.)? It is essential to hire business translation services to translate content for foreign direct investments. This includes your website, user and service materials, videos, and marketing material. This will ensure your global expansion plan’s success.
Our business interpreting specialists have a deep understanding of the United Arab Emirates market. Our team has a thorough knowledge of all aspects required for the success of any translation project. Contact us now to learn more about our language services, which will help you overcome the dialect barrier.
What are the top 3 health challenges in the U.A.E.?
Health issues are constantly evolving, with unique challenges for each country and continent. It’s no secret that the U.A.E.’s healthcare system is a critical component of the country’s efforts to diversify its once-oil-dependent economy.
- Colorectal Cancer
What is the most profitable Business in U.A.E.?
- Construction Sector. Dubai is continuing its growth with the establishment of infrastructure facilities, skyscrapers, industrial units, and so on.
- Travel and Tourism
- Real Estate Agency
- Health Sector
- Handyman Business
- Consultancy Service
- Beauty Salon
Can foreigners invest in U.A.E.?
According to the “Foreign Direct Investment Law,” foreign investors can own up to 100% of a company. Before enacting this law, foreign investors could only hold 49% of the company’s shares, while their partners, who would be U.A.E. citizens, own the remaining 51%.
Why do Business in Dubai?
Dubai is a multicultural city at the core of the Africa-Middle East-Asia triangle, with two-thirds of the world’s population within eight-hour flights. The variety of choices for company structure and compensation are among the benefits of conducting business in Dubai. Regardless of the format, companies in Dubai benefit from:
- A zero-tax regime, meaning no personal or corporate income taxes
- Safe and robust governance
- A world-class financial hub
- An educated supply of human capital with diverse professional experience hailing from all corners of the globe
- No capital repatriation restrictions
- No share capital requirements
- No physical office requirements