About 700 Russian companies opened a second legal entity in the United Arab Emirates after the outbreak of war in Ukraine, Russian media write with reference to official sources.
According to departments, since last year the number of such companies has increased by five to seven times. Most of them are organizing the IT sphere.
First, their representative offices in the Middle East opened mainly small and medium -sized businesses. However, large Russian companies also came to the local market. Thus, they preserve business in the conditions of European and US sanctions.
businessmen note that bureaucratic procedures for Russian companies in Arab emirates are becoming more complicated: the opening deadlines of the legal entity are increasing, a more thorough compliance is underway (verification for the compliance of business with the norms of legislation and legal acts). This is due to the pressure of the West, which monitors compliance with the superior sanctions and the movement of Russian capital.