Nowadays UAE is a multinational business center and the presence of many ethnic groups led Emiratis to be tolerant of other social customs, but they remain conscious of their own customs as markers of cultural identity. In the same way, foreigners are required to respect the local traditions and beliefs. BCM Corporate Services LLC and many other companies, working days in UAE start from and include Sunday till Thursday. Friday and Saturday are the rest days under the Labor Law. In the event that an employee is required to work on a Friday,
The United Arab Emirates has become an international hub for trading and operations with significant improvements in the ease of doing business including simplification of procedures, introduction of the latest technology systems and reducing or either eliminating minimum capital requirements. In addition to the ease of doing business, many steps were implemented to enhance transparency.
In particular, protection of the interest of the minority shareholders was one of the major initiatives considered, specifically for onshore businesses of which the majority of the capital must be owned by local nationals. BCM Corporate Services business setup, all seven Emirates of the UAE have adopted measures to create a more favorable environment for overseas investors.
In particular, three of the Emirates, Dubai, Abu Dhabi and Sharjah have very flexible rules regarding the acquisition of real estate property by foreigners. Moreover, the Government of the UAE has recently passed a new Companies Law, including 18 draft laws covering insolvency and arbitration laws as well as foreign investment law.
The new laws are intended to address a range of issues that are regarded as hampering foreign investment in the UAE. Oil and gas remain the key sectors for foreign investments. Abu Dhabi has however launched a policy for attracting foreign direct investments in order to organize and restructure certain public services such as water and electricity distribution as well as the collection and transport of household wastes.