Travel Destinations
Business in Abu Dhabi
The Abu Dhabi federal government recognises seven categories of business:
Private shareholding company
Public shareholding company
Limited liability company
General partnership company
Share partnership company
Partnership-en-commendam
Joint venture company
The Federal Law stipulates a total local equity of not less than 51% in any commercial company. It sets out the requirements in terms of shareholders, directors, minimum capital levels and incorporation procedures.
Companies engaging in banking, insurance, or other financial activities should be run as public shareholding companies - although foreign banks, insurance and financial companies can establish a presence in Dubai by opening a branch or representative office.
Abu Dhabi - Activities and Places of Interest
Abu Dhabi is frequently called a shopper's paradise for its range of products at often unbeatable prices, whether skipping through designer boutiques or at the many local souks (Arab markets). The opportunity to participate in haggling may not be appreciated in the renowned designer houses such as Gucci or the less prestigious though accessible Marks and Spencer but part of the pleasure of Arabic culture is haggling. Be reasonable, be sensible, be honest and it is possible to bag a bargain in the souks bespeckling the great, young city of Abu Dhabi. Carpets, rugs and other textile products are better sought outside the malls where a little flamboyance and patient haggling will be rewarded with both a memory and a gift worthy of the time and effort.
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Abu Dhabi Business Interests
To understand business in Abu Dhabi one must return to an older, more romantic period in Western history; a time of honour and verbal discipline, a time when a man's word was his bond - and this often proves challenging to Westerners conducting business in Arabic society.
Hospitality is as much a part of business as striking the deal itself, as is the development of mutual trust and respect, and a verbal agreement will be considered as binding as a contractual commitment. Good manners, patience and attention to detail - like ensuring business cards are printed in both Arabic and English - will go a long way towards clinching a deal.
Most businesses in Dubai or, indeed, the Arabic world are family run affairs. In the early stages, meetings may be held by a junior member of the business but it is wise to identify the decision maker as he will likely be the one who finally gives the go-ahead.
The American Business Group of Abu Dhabi (ABG) is dedicated to the promotion of commerce and investment between the United States and Abu Dhabi and would be a good place to begin enquiries for businesses looking to trade within or between the Emirate.
Abu Dhabi Holiday Activities
In April 2001 the Abu Dhabi Mall opened. The complex sprawls some 200,000 square meters and boasts over 200 shops; sportswear, children's clothes, confectionary, fashion-ware - in fact, almost anything can be purchased in the Mall. Supporting the bustle of commerce are 40 international restaurants, a cinema complex, kiddie's fun centers and extensive underground parking.
The Madinat Zayed mall embraces over 60 gold and jewellery shops and some 220 retails stores. But perhaps the more alluring for a little bling are the jewellery shops in and around the Madinat Zayed Gold Market, purported to offer the cheapest 24-carat gold in the world. Bracelets, bangles, necklaces, watches and myriad other concessions to fashion and style can be found here. Gold is once again a booming market in the Middle-East and Abu Dhabi glitters in the Hamdan Street area and around the Madinat Zayed Centre.
Abu Dhabi Presidential Palace
There is of, course, the Marina Mall,the second largest retail center in Abu Dhabi, to entice tourists to its 300 stores. amongst which are Carrefour, Versace, Burberry as well as the traditional international brands. In response to its popularity Abu Dhabi is making changes to the infrastructure to accommodate ever increasing numbers of visitors by offering greater mall space to overcome crowding - in itself a good indicator to the level of tourist activity in the Emirate.
Beyond the retail bargains of Abu Dhabi lie the visual spectacles of the White Fort, a palace, and one of Abu Dhabi's oldest buildings. It was once the seat of government but has now been modernized and renovated and used by the Cultural Foundation as the Center for Documentation and Research, and maintains much of Arabia's heritage and historical documents.