A Guide To Doing Business With The UAE By Copernicus Consulng 0870 879 5326 hp://www.exporouae.com

A GUIDE TO DOING BUSINESS IN The UAE CONTENTS Secon Pages 1.0 Introducon 3 1.1 Geography, climate, and transport 3 1.2 Major indigenous industries 5 1.3 Free market economy 5 1.4 UK and the UAE 5

2.0 Geng Started 7 2.1 A plan of campaign 7 2.2 Financial support 10 2.3 Legal requirements 11 2.4 Transport opons 12 2.5 Geng paid for your exports 14

3.0 Customs And Tax Regulaons 15 3.1 Customs dues 15 3.2 Tax regulaons in The UAE 15

4.0 Mergers And Acquisions 16 4.1Definions 16 4.2 Inial steps 16 4.3 Due diligence 17 4.4 The name of the new company 18 4.5 Trademarks 18

5.0 Labour Laws 19 5.1 Employees’ contracts and rights 19

6.0 Business Equee In the UAE 21

7.0 Useful Informaon 24 7.1 Telephone 24 7.2 Public holidays 24 7.3 Time 25 7.4 Rates of exchange (May 2011) 25 7.5 Useful contacts 26

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1.0 Introducon

This prospectus is a guide to opening a business in the United Arab Emirates (with special reference to Abu Dhabi and Dubai), and is especially relevant to UK investors.

Firstly, we present an overview of the geography, economy and polical system of the featured countries. Before considering entering a foreign market, it is as well to know as much as possible about the background to the target country’s market.

In certain areas covered in this guide there are reports of human rights and forced labour issues especially as regards immigrant blue collar workers. Potenal investors may wish to research the maer for themselves before proceeding.

1.1 Geography, climate, and transport

Abu Dhabi (the city) is the capital and second largest city of the United Arab Emirates (UAE). The UAE is a federaon of seven states which also includes Dubai (see below). The city of Abu Dhabi is situated on an island just off the southern coast of the Persian Gulf. Its populaon is just under a million. The head offices of several UAE banks are situated in Abu Dhabi City, which has been designated by economists as “the richest city in the world”. It was of course ruling family member HH Sheikh Mansour bin Zayed Sultan Al Nahyan who bought English Premiership football club Manchester City, bankrolling the club’s current success.

Abu Dhabi (the Emirate) is the largest country in the UAE, with a land area of

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67,340 sq km/26,000 sq. mi. Its populaon is 1.6 million. Situated at the southern end of the Persian Gulf, it is bordered by Saudi Arabia to the south and west, and Oman to the north‐east. Polically, the Emirate is a constuonal monarchy. Its currency is the UAE dirham (AED).

The climate is hot and arid, although relavely mild (12°C – 23°C) in winter.

Major airports are Abu Dhabi Internaonal and Al Ain Internaonal, with frequent direct flights to and from Heathrow and Gatwick. Public transport within the Emirate is principally by bus. The country’s main cargo port is Mina Zayid.

Dubai (the city) is situated on the south‐eastern coast of the Persian Gulf. A major financial and commercial centre, Dubai, like other neighbouring states, is diversifying its economy from the oil‐driven bonanza which it has enjoyed for the past 45 years or so. Tourism (helped by several high profile sports events) and financial services are sectors of increasing importance.

Dubai (the Emirate) is the second largest state in the UAE federaon, with a land area of over 4,100 sq km/1600 sq mi. Its populaon is around 2.2 million. Its government is a constuonal monarchy, and its currency the UAE dirham (AED). The geography of the country is mostly desert, and the climate in summer is hot, windy and dry, with comparavely warm winters (14°C – 24°C).

Although there is no long‐distance railway network in the Emirate, Dubai City has the only metro system on the Arabian Peninsula. Longer internal distances are usually taken by car or bus. Dubai Internaonal Airport has frequent Brish Airways flights to and from London Heathrow.

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The Emirate’s two major cargo ports are Port Jebel Ali, the largest constructed harbour in the world, and Mina Rashid, where the QE2 liner is currently berthed. In theory, throughout the UAE human rights are legally protected by the federaon’s constuon.

1.2 Major indigenous industries UAE: Petroleum and petrochemicals, fishing, shipbuilding and repairs, construcon materials, texles, aluminium, ferlisers. (Dubai: IT, finance, tourism. Abu Dhabi: industry, retail, tourism, property.)

1.3 Free market economy Although oil and gas deposits in the region are expected to last for some me (100 years in the case of Abu Dhabi ) there is a general trend throughout the target economies to diversify into other business sectors. This planning for the future implies a need for investment, especially from interested pares overseas.

Free Trade Zones have been launched throughout the region. Advantages to the foreign investor are reducon in red tape, easier access to financial services, exempon from all taxaon, possibility of 100% foreign ownership, and ease of movement of capital and profits in and out of the country.

Diversificaon has been a signal success in Dubai, where 94% of revenue is currently derived from non‐gas and ‐oil related industries, especially IT, media and finance. The Free Trade Zone TECOM (Technology, Electronics, Commerce and Media) which includes Dubai Internet City and Dubai Media City, is home to mul‐naonals such as CNN, Reuters, Microso, and IBM.

1.4 UK and the core UAE economies English is almost universally used as a business lingua franca throughout the Gulf States.

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The UAE is the UK’s largest Middle Eastern export market, with the value of goods exported averaging around £3.5 billion per annum. Major sectors have been ICT, power, and machinery. Dubai accounts for around 70% of this trade, and Abu Dhabi around 12%. There are well over 100,000 UK expatriates working in the UAE.

Business opportunies include:

 financial and business services  travel and transport  tourism  energy  construcon  educaon  healthcare

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2.0 Geng Started 2.1 A Plan of Campaign It is assumed that any UK business wishing to expand into the UAE market will fall into one of the following categories:

 a business just starng out, and seeking an area of demand in an economically amenable environment  an already established company looking to fill a perceived gap in the market  a business seeking merger or partnership with, or acquision of, a concern already in existence in the target country An inial informal reconnoitre may of course be made via a social or holiday visit to the country, where observaon and word of mouth exchange of informaon may give a useful street‐level view of the potenal market.

A vital contact in any case is the United Kingdom Trade and Investment (UKTI) offices, to which all inial enquiries should be addressed: Tel: 020 7215 8000 E‐mail: enquiries@uk.gsi.gov.uk

Those readers wishing to contact the UKTI team in the target economies direct are referred to the following:

Abu Dhabi: Brish Embassy in Abu Dhabi PO Box 248 ABU DHABI Tel: 00 971 2 610 1111 E‐mail: [email protected]

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Dubai: Brish Embassy in Dubai Al Seef Road PO Box 65 DUBAI Tel: 00 971 4 309 4444 E‐mail: [email protected]

For a general overview of trade and investment in the Arab world, a useful membership‐based consorum is the Middle East Associaon. Networking, contacts, business opportunies, and themed meengs are some of the services offered. Contact details are at the end of this prospectus. There is a similar raonale to the Arab Brish Chamber of Commerce, details of which are also given below.

Contact details for the Chamber of Commerce of the UAE are given at the end of this prospectus. Services and informaon supplied by these Chambers include those menoned in the preceding paragraph.

General business advice for new companies (not specific to, but including, internaonal trade) may be found on the website www.businesslink.gov.uk .

In pung together a plan of campaign, the following check list of self‐evaluaon quesons may prove useful:

 is your product or service well defined?  who are your potenal customers likely to be?  if a client company is involved, have you done the research on their reliability and financial track record?  what sort of price will your potenal customers be prepared to pay?  what would be an acceptable level of quality and service for these customers?  do you have the resources to meet the needs of your customers?  have you idenfied a definite area of demand, or do you have any competors already established in this market?

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 what can you offer in the area of quality, value or service that might persuade customers to switch allegiance?  will you need to make any modificaons to the product or service before it is suitable for export?  have you chosen the most cost‐effecve means of transportaon for your product?  how will you manage your sales presence in the foreign country: through an agent or representave, or through premises obtained in the target country?  where and how would any adversing campaign be best directed? Most UK adversing agencies will have established contacts in the Middle East, and most tradional media such as television, billboards, and magazines, are extensively used.

Trade fairs An up‐to‐date and comprehensive list of forthcoming trade shows and exhibions may be found at www.biztradeshows.com/Bahrain . The other relevant websites are: www.biztradeshows.com/unitedarabemirates/dubai www.biztradeshows.com/unitedarabemirates/abudhabi

Local representaon From the outset the scope and effecveness of an enterprise would be maximised by the presence of a local representave. In the UAE, third party introducons are essenal, and highly recommended elsewhere in the Gulf. Contacts may be set up by the UKTI’s Overseas Market Introducon Service (OMIS):

Log on to: hps://omis.uktradeinvest.gov.uk E‐mail: [email protected] Tel: 020 7215 2471 or 0207 215 8886

Once the business enterprise is well established, it may be advisable or even necessary to connue to have a locally based agent or distributor. The agent

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would hold samples, and would expect a commission of around 10% – the usual average – of the order value. The distributor would normally buy stock at a discount – typically 25‐30% – from the manufacturer. All such details are of course negoable.

Relaonships with agents or distributors should be subject to wrien contractual agreement. It is strongly recommended that companies take legal advice before entering any such agreement. Should a representave prove unsasfactory, it may be a long and expensive process to annul a contract.

Business premises If you choose to maintain a business presence in an office or manufacturing space in the target country, the following quesons need to be addressed:

 are the premises available, suitable, and in the right locaon?  will you rent or buy?  what are the costs involved?

The Regus organisaon in the target country may be able to supply ready‐to‐use office facilies in your target region. The website is www.regus.com . Also useful is the database on www.startupoverseas.co.uk .

2.2 Financial Support

The Dubai Financial Support Fund supplies grants for GREs (Government Related Enes) which will demonstrably enhance the future well‐being and prosperity of the Emirate.

For all financial maers relevant to the launch of a new business enty in one of the target countries, the reader is referred to one of the following organisaons or departments:

Abu Dhabi Investment Authority

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Dubai Department of Finance

Full contact details for all of these are given at the end of this prospectus.

The UKTI Offices will also supply up‐to‐date informaon on grants and incenves, as will the relevant Chamber of Commerce (see below: USEFUL INFORMATION).

2.3 Legal Requirements

Again, it is strongly recommended that legal advice is taken before making any inial investment decisions, before registering your company, and indeed before entering into any contractual agreement. Your intended business structure and precise export or service sector should be well defined beforehand.

Registraon of the new business enty should be completed via the relevant Chamber of Commerce: contact details at the end of this prospectus.

The most likely company formats are: branch office or subsidiary; joint venture with a local company; appointment of an agent or distributor. The exact definion, registraon requirements, and scope of these business enes may vary from country to country. To find the most appropriate channel for your goods or service, contact the UKTI or the relevant Chamber of Commerce.

A list of lawyers specialising in corporate law and related areas is given in USEFUL INFORMATION at the end of this prospectus.

A couple of useful legal EU definions:

(1) Small business enterprise: average annual staffing of less than 50; annual net turnover of no more than €10 million. Businesses which employ less than 10 people and with an annual turnover of less than €2 million are defined as micro‐ companies.

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(2) Medium size business enterprise: average annual staffing of less than 250; annual net turnover of no more than €50 million

Both definions will apply to at least one of the last two financial years.

For a step‐by‐step overview of the legal and bureaucrac requirements for registering a new business, including fees and typical me scale, log on to www.doingbusiness.org and search the relevant country.

Visas All visitors to the countries covered in this guide require a passport, apart from GCC States passport holders. For visitors from the UK, a visa may be obtained on arrival at the Internaonal Airport, on producon of a valid UK passport and return or onward cket. Country‐specific details are as follows:

UK passport holders may obtain a 60‐day visa free of charge. This is renewable for a further 30 days for 500 AED (appx. £85).

See below for TAX REGULATIONS

See below for LABOUR LAW

2.4 Transport opons

Which mode of transport will you choose in order to get your product or service to the customer on me? The decision will be based on convenience, speed, cost, and known reliability. The principal UK‐UAE opons are airfreight and boat.

Help and advice for new exporters can be supplied by the Brish Internaonal Freight Associaon (BIFA). Their telephone contact number is (020) 8844 2266.

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Cargo and shipping companies: a comprehensive list for all regions is given on the internaonal website: www.azfreight.com . The site’s powerful search engine will enable you to target geographical region and/or business sector within seconds.

Transport insurance – against loss, damage, or delay in arrival – should be taken out.

Packaging and labelling (refer to the website www.businesslink.gov.uk .

Goods must be securely packaged. The main criteria are prevenng damage to produce. Visible labelling in Arabic or Arabic/English must include:

 country of origin  desnaon (e.g., port)  exporter’s name and order number  sequenal number of package and total, e.g., “6 of 15”  weight and volume  any special handling instrucons, including noce of any hazardous contents

Labelling of food packages must also include:

 name of product (or brief descripon)  quanty  list of ingredients, with % of main ingredients  use by date  storage condions  presence of any allergens e.g., peanuts, crustacea  % of alcohol content, if more than 1.2%  instrucons for use (if applicable)

Details of labelling and packaging should be included in any contract. In Bahrain, sckers are not permissible for labelling.

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2.5 Geng paid for your exports

Leers of credit (“confirmed and irrevocable”) are generally accepted as a means of payment throughout the Gulf States. Alternave possibilies, legal or usual me scales of payment, and precise regulaons and procedures, may vary from country to country. Check with the relevant Chamber of Commerce.

The www.businesslink.gov.uk/internaonaltrade website has more details on secure methods of payment.

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3.0 Customs And Tax Regulaons

3.1 Customs dues

For details on customs regulaons and procedures, the reader is referred to the following website:

www.dubai‐online.com/essenal/customs.htm; www.auhcustoms.gov.ae/en

The relevant Chamber of Commerce will also give full details on the restricons, regulaons, and procedures.

The standard customs duty rate levied is 5%. Alcohol. The UAE and have also prohibited Israeli goods, pornographic material, narcocs of any descripon, fire‐ arms and explosives, pork, and Brish and Irish beef.

See www.businesslink.gov.uk for a full guide to the UK export process. Details on insurance, financial help and health and safety controls are also given. The HM Revenue and Customs website is at www.hmrc.gov.uk .

3.2 Tax regulaons in UAE

The UAE is a tax‐free region, apart from the oil, gas and petroleum sectors. Some economies levy “official fees” which are a form of indirect taxaon.

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4.0 Mergers And Acquisions

4.1 Definions

We present the processes of merger and acquision here in general terms. Restricons, regulaons and possible financial incenves will vary from country to country, and the reader is advised to check details with the relevant Chamber of Commerce or the UKTI.

Definions Merger: an amalgamaon of two or more companies, usually decided upon mutually and amicably by parcipants.

Acquision: when company A buys a majority interest in company B, whether or not by mutual agreement.

Both processes may entail problems, which in some cases may prove ulmately disastrous for all pares. Internaonal acquisions are three mes more likely to fail than a domesc take over. Careful planning, and analysis of all factors, is therefore essenal.

4.2 Inial steps

What are your aims and objecves in wishing to merge with or acquire another business? Analysts have warned that expansion for the sole purpose of demonstrang growth in order to impress shareholders is rarely a sound reason for iniang a takeover. More valid aims could be:

 *geographical. You may wish to exploit a new target area for your product, with subsequent enlarged client base.  acquiring personnel. An advantage of expansion may be the successful head‐hunng of staff with outstanding commercial or

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management skills.  product extension. You may wish to join forces with a company that sells a similar product to your own, so as to achieve a more salient presence in the market.  enhance transport opons. You may wish to target a company whose distribuon channels could be advantageously shared by you.

4.3 Due diligence

Once you have located a suitable target company, both pares then embark on the process of due diligence. This should be carried out by a qualified team, as it is essenal that the appraisal is expert and thorough.

Factors to be examined during the process of due diligence are:

 quality of assets  current liquidity  financial history  accounng policies  tax structure  quality of operaons and technology  ligaon risk

Before merger or acquision reaches compleon the issues of legal compability and consistency of business style must be addressed. Are all staff to be retained? (See below: LABOUR LAWS). How will customers be nofied of any changes? How will you deal with the possibility of customers going elsewhere because of the changes? Will communicaons systems be compable?

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4.4 The name of the new company

For a new company it is advisable to suggest three possible names in order of preference, as your chosen name, or something very similar to it, may already exist.

4.5 Trademarks

To conduct a search for exisng trademarks and to register a new name or logo, the relevant website is: www.emiratesip.com (for Abu Dhabi and Dubai)

The Brish intellectual property, patents and trademarks site www.ipo.gov.uk is also informave and useful.

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5.0 Labour Laws

Labour Laws may vary from country to country. We present the most generic laws here, but the reader is advised to check details with a business lawyer, or by referring to the following website:

UAE: www.abudhabi.ae

5.1 Employees’ contracts and rights

The employer must supply, in wring, the following details of employment:

 the employer’s name and company address  the employee’s role and posion in the company  the date the employee started work  how long the contract is valid for  salary, plus agreed overme rates  details of social security contribuons and/or pension scheme  working hours  holiday entlement  period of noce upon terminaon of contract  any relevant results of negoaon or collecve agreements

Trade Unions do not exist in the target states, but unofficial collecve negoaon within a single enterprise is a possibility.

Minimum wage no minimum wage.

Working hours and statutory holidays Friday is the usual day of rest. A standard working week is 40‐48 hours. The working week is Saturday‐Thursday, or Saturday‐Wednesday, with a half day on Thursday. The working week is usually affected during Ramadan.

Overme rates are at the discreon of the employer, and should be included in

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the employee’s contract. There is a flat rate of salary +25%. A worker in Bahrain is entled to 21 days’ paid holiday per year. This rises to 28 days aer 5 years’ employment.

Paid holiday entlement is 30‐40 days: precise length of me, and ming of any extended breaks, should feature in the employee’s contract.

See USEFUL INFORMATION for public holidays.

Maternity and parental leave 45 days on 100% salary (this must include 35 days aer delivery)

Mothers are usually allowed an extra hour’s rest period per day for nursing or breast feeding.

There is no statutory paid paternity leave entlement for indigenous workers throughout the countries covered in this prospectus.

Dismissals and redundancies Dismissal on grounds of polical opinion, race, religion, age, gender, pregnancy or disability is illegal.

Jusfiable dismissal would be for the employee’s misconduct, his/her inability to perform the job, or (in most cases) redundancy on economic grounds such as downsizing or mergers.

In pracce, redundancy following a merger or change of management is a complicated issue: individual cases should be referred to a corporate lawyer.

Terms of noce for redundancy or dismissal vary: what should be noted is that in most cases of terminaon of contract there will be payable to the employee a sum covering severance pay, or compensaon pay.

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6.0 Business Equee In UAE

When scheduling an appointment in the UAE, it is best to do so neither more nor less than around two weeks beforehand. A leer of introducon, possibly arranged by UKTI/OMIS (see above – GETTING STARTED) should open the first door. Bear in mind that business in the UAE is oen extended family‐oriented, so knowing the right people is vital.

Do the research on the track record of any company you aim to have dealings with. The UKTI and the relevant Chamber of Commerce will help with this.

Avoid July and August for your meeng, and the most popular me of day will be morning or early evening, out of the midday heat. Telephone to confirm your arrival a couple of days beforehand.

At least inially, there is a pronounced social dimension to doing business, so expect to spend a lot of me in cafés, restaurants, or at other convivial gatherings geng to know your hosts. It has been suggested that your first meeng could be held in the lobby of an internaonal hotel: this way you will have some control over who turns up at the meeng, as well as over choice of refreshments! It also means that if your hosts make the effort to come and see you, they are more likely to be interested in your proposal.

You will probably not get to see the chief decision‐maker early on in the process. Procedures may seem long‐winded, but it is essenal not to show any impaence. Be sure that your behaviour and reacons during the sounding‐out period will be noted, and reported to the company’s decision‐maker. Time spent building a rapport of trust and mutual respect is usually me well invested.

There are some rules of general equee that it is advantageous to know about. On greeng people, shake hands maintaining eye contact. It is not considered

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correct to offer to shake hands with a woman, but if the woman makes the first move to shake hands, then it is permissible. Use only the right hand: and this pracce extends to eang and general use. Do not point with one finger: if you wish to indicate someone or something, use the whole (right) hand. Do not cross your legs, as this may entail showing the sole of your foot, which is considered an insult. Avoid the “thumbs‐up” good luck gesture, as this is oen interpreted as obscene.

In the geng‐to‐know period, avoid making conversaon on religion, polics, Israel, and (if you are a male amongst males) women. Although women are rapidly accessing posions of responsibility in the business world tradional Islamic values and customs sll predominate in most areas. For example, although it is expected of you to enquire aer your host’s family collecvely, it is incorrect behaviour to enquire aer his wife or any elder daughters. Safe topics of conversaon would be sport (especially golf, Formula One, and soccer), popular culture, and travel.

It is illegal to drink alcohol in a public place, so you will probably be offered coffee at some point. It is polite to drink at least one cup. Give the cup a lile shake or twirl if you don’t want a refill, otherwise it will be returned to you replenished!

You should prepare and bring with you a plenful supply of business cards and aracve, colourful company literature. The cards should have the details in English on one side and in Arabic on the other. Employ a professional translator to render the Arabic version – and this of course goes for the company literature too. When handing over your business card, present the Arabic side uppermost. When giving or receiving cards, the correct way is to do so with both hands. Spend a few seconds looking at your host’s card before placing it in a visible place on the table in front of you. The cue to pung into your wallet or card case

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should be taken from your host.

Clothing should be lightweight conservave suits. Women should dress conservavely too, ensuring that the knees, elbows, and area below the neck are covered.

Punctuality is expected from visitors, but do not be surprised (or show displeasure) if you hosts are late for the meeng. Also, because of the common open‐door policy of Arab business meengs, interrupons from outside pares may be frequent. Again, any show of impaence with this will count against you. For devout Muslims, there may also be interrupons for prayer.

Save the well‐prepared presentaon for the crucial meeng with the decision‐ maker. Keep it simple and straighorward, avoiding any hard‐sell taccs. Aspects of the pitch that are likely to appeal will be your glossy, colourful, bilingual literature, samples to pass around, a low‐key approach, and local comparave examples of your product or service. Expect interrupons and quesons, especially from the lower‐ranking employees. The top person present will probably keep his/her own counsel for the me being.

If your proposal is successful, the contract will probably be drawn up in two versions: Arabic and English. If there is a queson of legal interpretaon, the Arabic version will take precedence over the English.

Be prepared to follow up successful negoaons with frequent subsequent visits to the target country.

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7.0 Useful Informaon

7.1 Telephone

To telephone the UAE from the UK, first dial the following:

Abu Dhabi 00 971 2 Dubai 00 971 4

Then dial the domesc number.

Emergency numbers:

Abu Dhabi: Police 999 Fire 997 Ambulance 998 Dubai: Police and Ambulance 999 Fire 997

7.2 Public Holidays Late 2011

Aug 30th Eid al‐Fitr End of Ramadan Sep 3rd Qatar Independence day Nov 6th Eid al‐Adha Feast of the Sacrifice Nov 26th Al‐Hijrah Islamic New Year Dec 2nd UAE Naonal Day Dec 6th Ashura Dec 16th Bahrain Naonal Day (2 days) Dec 18th Qatar Naonal Day

2012 Jan 1st New Year’s Day Feb 4th Mouloud Birth of the Prophet Feb 25th Kuwait Naonal Day (2 days)

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th Aug 19 Eid al‐Fitr End of Ramadan Sep 3rd Qatar Independence Day Oct 26th Eid al‐Adha Feast of the Sacrifice Nov 15th Al‐Hijrah Islamic New Year Nov 24th Ashura Dec 2nd UAE Naonal Day Dec 16th Bahrain Naonal Day (2 days) Dec 18th Qatar Naonal Day

For the lunar month of Ramadan, eang and drinking are forbidden during daylight hours, and the usual business or working week is affected.

The UAE also celebrate Al‐Esra Wa Al‐Meraj (Ascension of the Prophet): June 28th 2011, and June 17th 2012.

Depending on the region, Eid al‐Fitr and Eid al‐Adha may last anything from 2 to 10 days.

7.3 Time The UAE me zone is GMT+4 (BST+3)

Friday is the day of rest in the Moslem world. Business and office hours are usually 9 am – 1 am, then possibly a long lunch break in the midday heat, then 4 pm – 7 pm. These mes may vary from country to country.

A typical working week in the UAE and Qatar would be Sunday to Thursday. Bahrain and Kuwait usually work a half day on Thursday or Saturday.

7.4 Rates of exchange (appx May 2011.) £GB1 = 6 AED €1 = 5.5 AED $US1 = 3.75 AED

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7.5 Useful contacts (a) The Middle East/GCC The Middle East Associaon Bury House 33 Bury Street LONDON SW1Y 6AX Tel: 020 7 839 2137 E‐mail: info@the‐mea.co.uk Website: www.the‐mea.co.uk

The Arab Brish Chamber of Commerce 43 Upper Grosvenor Street LONDON W1K 2NJ Tel: 020 7 235 4363 E‐mail: [email protected] Website: www.abcc.org.uk

(b) Financial Authories

Abu Dhabi Investment Authority 211 Corniche PO Box 3600 ABU DHABI Tel: 00 971 2 415 0000 Website: www.adia.ae (the website has an e‐mail facility)

Dubai Department of Finance PO Box 516 DUBAI Tel: 00 971 4 353 3330 E‐mail: [email protected] Website: www.dof.gov.ae

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(c) Chambers of Commerce

Abu Dhabi Chamber of Commerce and Industry PO Box 662 ABU DHABI Tel: 00 971 2 621 4000 E‐mail: [email protected] Website: www.abudhabichamber.ae

Dubai Chamber of Commerce and Industry Baniyas Road Deira PO Box 1457 DUBAI Tel: 00 971 4 228 0000 E‐mail: [email protected] Website: www.dubaichamber.com

(d) Lawyers specialising in business and corporate law, taxaon, foreign investments, intellectual property, and mergers and acquisions:

Mohamed M. Alkhateeb & Associates PO Box 26067 Adliya KINGDOM OF BAHRAIN Tel: 00 973 17 81 06 00 E‐mail: [email protected] Website: www.khateeblaw.com

Emirates Internaonal Law Firm PO Box 469 3rd Floor GIBCA Tower Khalifa Street ABU DHABI Tel: 00 971 2 62 65 600 E‐mail: [email protected] Website: www.eilf.com

Trench & Associates PO Box 21832 2nd Floor Albwardy Bldg.

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Khalid Bin Al Waleed Road DUBAI Tel: 00 971 4 355 3146 Website: www.trenchlaw.com (the website has e‐mail facility)

This is of course by no means an exhausve selecon. A complete list of lawyers may be found on the website www.hg.org/lawyers . Use the search engine to specify the country and/or area of pracce. Also useful is the website www.marndale.com , which supplies a similar service.

All details in this prospectus were correct at the me of going to press. The reader is advised to consult the relevant department or organisaon to check for any very recent changes.

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