Dmytro Kasyanenko, lawyer and Kasyanenko & Partners Law Firm managing partner, visited Almaazmi Advocates & Legal Consultancy.
During a bilateral meeting with managing director & board member Dr. RASHEED AL-QAWABAH and Dmytro Kasyanenko, the company’s partners agreed to sign a Memorandum on cooperation with business projector, opening a representative office in Dubai, attracting Arab investors to Ukraine, support the financing of state projects, exchange experience with clients, judicial practice of countries, differences in representation of clients’ interests in court and peculiarities of doing business in countries.
Kasyanenko & Partners Law Firm and Almaazmi Advocates & Legal Consultancy plan to strengthen international legal cooperation in Ukraine and the United Arab Emirates. The UAE has long been known as the region’s business hub: modern infrastructure, zero income tax on export services, and a geographical location that connects East and West, opening up access to emerging new markets in both Africa and South Asia. And along with this, there are wide opportunities for business development for Ukrainian investors.
Today, during the crisis, when conditions are constantly changing, and it is difficult to predict the course of events even for a few days ahead, many entrepreneurs are standing still, and some have even begun to give up their positions and prepare a retreat.
It’s time to step up and take your business to the next level. The business Association will motivate new successes and strengthen economic ties between Ukraine and the UAE.
Almaazmi Advocates & Legal Consultancy Company this is a fast-growing law firm located in the heart of Dubai, in the Business Bay area. They cover a range of legal services: criminal, civil, commercial and corporate, labor, family, banking law; arbitration, registration and servicing of companies in Dubai and other Emirates, opening accounts in UAE banks, Islamic banking, business purchase and sale, support of real estate transactions and investment projects, and much more. The company provides legal advice and support to individuals, entrepreneurs, small and medium-sized enterprises, and corporate organizations.
the Dubai experience is very useful and important for Kyiv. This meeting was a good platform for new developments and deepening of bilateral cooperation between the companies, noted Dmytro Kasyanenko, lawyer and Kasyanenko & Partners Law Firm managing partner.
Law firms agreed to work together to expand business horizons
Last year, early-stage startups accounted for almost 50% of all companies registered in Dubai. According to the MAGNiTT report on investment in MENA (Middle East and North Africa), venture capital firms invested $517 million in 354 deals in the first three quarters of 2019.
If you look at the same period in 2018, the total funding increased by 30%, and the number of transactions by 3%. The UAE accounts for 62% of total funding in 2019 from the beginning of the year. By comparison, five years ago, in 2015, only 204 deals totaling $232 million were made in the MENA region.
Also, companies such as Microsoft, Amazon Web Services, and Oracle have recently announced major investments in the region, creating world-class data centers and cloud infrastructure in Dubai and Abu Dhabi.
Free economic zone
In the UAE, free economic zones are created to attract foreign investors and establish business relations with other countries. Today, there are more than 20 free economic zones in Dubai, where more than 33,000 companies and 280,000 people work. Each of them has a different level, terms of registration and service.
You can register a company or startup in a free economic zone quite simply and without unnecessary bureaucracy. In return, there are many advantages.
For example, in a FEZ, you can register a branch, representative office, or almost any other type of company. Besides, foreign citizens can own 100% of the business, which was an important condition for us.
And most importantly, each zone is themed and works with specific business areas. For example, in DIC (Internet City) there are offices of IT companies and startups (Microsoft, Oracle, IBM and others are sitting here), in DMC (Media) there are offices of various media companies (CNN, BBC and others).
The most popular and prestigious are:
- DMCC (Dubai Multi Commodities Centre)
- DIFC (Dubai International Financial Centre)
- Dubai Internet City (DIC)
- Dubai Media City (DMC)
- Dubai Knowledge Park
- Dubai Science Park
- Dubai Design District (d3)
- Dubai Silicon Oasis
Dubai will become a major destination for global business leaders. The legislation of the UAE was developed taking into account the most advanced world practices of the legal sphere. Accordingly, close attention is paid to creating favorable conditions for business and foreign investment. If you comply with all legal norms and requirements of the UAE legislation, it can become the most solid foundation for the success of your investment. Understanding how important this is for foreign investors who are not sufficiently familiar with the specifics of legislation and business in the UAE, we provide advice on the optimal structuring of enterprises taking into account the specifics of internal processes, as well as provide services for registering legal entities.
The joint work of the corporate law consultants of Kasyanenko & Partners and Almaazmi Advocates & Legal Consultancy will help to achieve the best implementation of business ideas through jointly developed strategies in the field of doing business in the UAE and attracting investors to the territory of Ukraine.