Having being in consultancy for a little over a decade, I’ve seen all types of businesses – big, small and think big – walk into my office and declare that they finally want to set up shop here. After extolling the mandatory “hub of the Middle East, 2 billion customers catchment area, etc etc.” I reach the crux of the discussion – so what do you want to do here?
Its surprising at how varied the answers I get are. While most manage to describe their existing businesses, they fail to get the basics of this market right. For starters, Dubai and United Arab Emirates are not interchangeable, the former being a city state and the latter being the country. Many haven’t even heard of the other emirates that make up the UAE, and so I get questions like “Sharjah? Is it in Dubai?” and “Ras-Al-Khaimah? But that’s in Saudi Arabia isn’t it?”. Well…
Once the basics are out of the way, the all important question – Where does one incorporate? The immediate answer seems to be Dubai, but then hold on…we have 30 free zones here, and something called “mainland Dubai”. “I want to have an office in the Media City”, declared a client from Europe, who leases heavy machinery. ” Are you a media company?” I ask him. “No, but the buildings are great and well, it’s next to the Marina where I would like to take up an apartment”, he replied confidently.Err…thats not going to happen.
So, coming to the point. WHERE DOES ONE SET UP?
There is no straight answer (and thats how I earn my bread n butter, with jam on the side). Some questions I may throw back at you (besides questions on the core business activity):
1. What is your budget? Big, bigger, or obscene?
2. How many employees do you think you would employ in the first three years?
3. How big an office space would you require?
4. Expansion plans? New stuff you want to do here in due course?
5. If you wish to relocate here, where would you live? Family? Children?
Now, the answers to these questions would give me pointers on what to suggest. And suggest I do. Comprehensively.
So, if you are those who are rushing here in the sparkling new Emirates 380s (or Etihad) to capitalize on the Expo 2020, but don’t have an inkling on the rest, you know whom to call (or message, or tweet, or…just get in touch).
Just praying that you don’t ask me where United Arab Emirates is.
If you do, no worries. An unspoken thought and a kind smile later, I will be ready to help.
Doing Business in Dubai 