NewsInternational Media Production Zone (IMPZ)

The clusters of International Media Production Zone (IMPZ) will include a wide range of residential towers with landscaped gardens, and waterways. IMPZ aims to create a unique environment for media production companies to setup base camp here, and also provides affordable living accommodation for these companies.
IMPZ is a relatively new development area however it will strikes investors as an interesting investment area. With 30% devoted to residential and 70% to commercial and investing in a residential unit will bring investors some good returns. The fact that the new airport is going to be close to the development as well as the fact that the old media zone (close to Jumeirah) is now 100% occupied, this area will draw a lot of interest. The unit prices are reasonable and comparable to Sports City.

DubaiBusiness Environment

Overseas businessmen will find that their counterparts combine local and regional expertise with a full understanding of international business practices. English ranks on a par with Arabic as the main business language and there are plenty of foreign banks, lawyers and other advisors - as well as the Department of Tourism and Commerce Marketing, The Economic Department, Chamber of Commerce and Industry and Jebel Ali Free Zone Authority to help those wishing to enter the market.
The emirate's transport infrastructure is unrivalled in the region in terms of size, facilities and efficiency. Its ports are served by more than 100 shipping lines and the airport by nearly 100 airlines.
The postal system in the UAE is very modern and the post offices are among the most efficient in the Gulf. Between the UAE and Europe or the USA, mail takes about ten days. To Australia, mail takes about eight to ten days. There is an excellent telephone system and you can phone anywhere in the world from the most remote areas. Throughout the country there are telephone offices which are equipped to send and receive fax, telex and telegraph messages.
There is no corporate tax in Dubai. The only exceptions to this are for oil producing companies and branches of foreign banks. Likewise, there are no personal taxes. Direct taxation is against the traditions of the UAE and it is highly unlikely that it will be introduced in the near future.
Trade practices in Dubai are in line with normal international standards. All correspondence should be in Arabic or English. As a sophisticated market, full technical specifications should be provided with CIF Dubai prices and Middle East references. Payments are normally effected by letter of credit.
The UAE is a signatory of the General Agreement on Tariffs and Trade (GATT).
The registration of accountants and auditors in the UAE is governed by Federal Law No. 9 of 1975. There is no local professional body of accountants but many of the large international accountancy firms have offices in Dubai. Under Federal Law No.13 of 1988, as amended, all businesses are required to keep financial records but current legislation is not specific as to the nature of such records.
There is a comprehensive framework of legislation to ensure that business in the UAE is conducted in a fair and orderly manner. There are laws dealing with commercial transactions, intellectual property, labour and other aspects of business life.
Dubai has many local and international law firms willing to advise foreign business organisations on legal matters. Dubai has civil, criminal and Shariah (Islamic) Courts of first instance. All court decisions may be brought to the Dubai Court of Appeal. Thereafter, a final appeal may be made to the Dubai Court of Cassation.
The Civil Court (as opposed to the Shariah court) has jurisdiction over labour, civil and commercial transactions, as well as personal matters (e.g. wills, divorces etc) relating to non-Muslims. The language of the Courts is Arabic and advocates admitted to plead are Arab nationals.

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