The last couple of years have seen events that the world could only imagine previously. In 2020, the UAE officially put an end to its boycott of Israel. Thanks to a deal brokered by the United States, that normalized relations between the two countries the ruler of the United Arab Emirates issued a decree that officially ended the country’s boycott of Israel,.
With trailblazing efforts to solidify ties with the United Arab Emirates, Israel’s “Open Tent” Pavilion, at Expo 2020 in Dubai told the world more than anything, that Israel is open and inviting to all collaborative efforts, between the small but progressive countries. The open tent pavilion had no walls, to signify openness, diversity and inclusiveness. The peaceful and mutually advantageous business relations will certainly create attractive ventures for US, Israeli and Dubai business lawyers in Israel and many other places.
On September 16, 2020, Bank Leumi of Israel and PJSC, the United Arab Emirates NBD (National Bank of Dubai), which is Dubai’s government-owned bank and one of the largest banking groups in the Middle East in terms of assets, signed a Memorandum of Understanding. This was the second agreement with an Israeli bank.
Emirates NBD also entered into agreement with Bank Hapoalim of Israel. The signings mark the beginning of a broader alliance between the United Arab Emirates and Israel, to advance peace and promote sustainable development. US, Israel and Dubai business lawyers in Israel, will have their work cut out for them.
Every Industry Can Benefit from a US, Israel and Dubai Business Lawyer in Israel
From food to music, to jewelry, every single industry stands to benefit from business collaborations between Israel and Dubai. Once COVID-19 health restrictions will be lifted on travel and public places, airlines will surely see a boom in the sale of commercial flights, to begin with and undoubtedly see vacationers in due time. With trade and commerce opening up between Israel and the UAE, which is home to oil-rich Abu Dhabi, Dubai with its skyscraper skyline and Israel, which can boast a thriving diamond trade, pharmaceutical companies and tech startups. US, Israel and Dubai business lawyers in Israel will have a lot of work to which to look forward. David Page is a lawyer in Jerusalem, Israel, who can expertly navigate the murky waters of contracts and all that applies to local or international business.
Dubai & Abu Dhabi Businesses Help Israeli Firms Enter the UAE Market
Dubai’s tax benefits make setting up businesses very attractive to Israelis. Either Israeli businesses will soon open branches there, or Israeli entrepreneurs will commute or relocate, for whatever periods of time, to build ventures there. US, Israel, and Dubai business lawyers in Israel will be involved in the many steps to bridging cultural differences in business practices.
Consultation and Service
Consultation and service-based businesses will most likely be the first to enter the UAE market, due to their abilities to set up faster than other fields. While both sides, Israel and Dubai, are eager for new ventures and opportunities, James Brenig, executive director of Apex Holdings from the US, said “We are excited to help the thousands of Israeli companies who are looking to create business operations in the UAE.”