this is absolutely nuts!!! whats going on over there?
http://www.dubai-architecture.info/DUB-GAL1.htm
I think that is a beautiful city.
Apparently there is no income or consumption tax there (this does not apply to foreign banks and foreign oil companies).
There is also 5% tariff on most imports.
This lack of income and consumption taxation is most likely one of the key reasons why there is such an influx of foreign investment
as wealthy firms and individuals seek to escape the wasteful, immoral and misguided economic policies of the 'developed' countries.
Why would you not invest in a country that doesn't touch your revenue?
Here is what you would deal with if you were there (personally I don't think it is a huge deal):
From:
http://www.austrade.gov.au/UAE-profile/default.aspx
"
Travel tips and facts
Business visitors should avoid the summer period (June to August) when many people may be away on holidays and Ramadan when business hours are reduced.
Tipping is not very common, a service charge is usually added to the bill in more expensive restaurants.
There is no formal address system (eg. building numbers, street names and suburbs) for most areas in the UAE. Locations of offices and houses are often given using landmarks and directions.
Be respectful of the Muslim religion (eg. don’t walk in front of people who are praying). During the month of Ramadan when Muslims fast from sunrise to sunset, foreigners should not eat or drink in public. Major hotel restaurants and other tourist facilities usually remain open, as long as there is no eating, drinking, or smoking within public sight.
When taking photographs of a person, always ask their permission first. Don’t photograph potentially sensitive areas such as bridges, airports, railway stations, public utilities, dams, ports, police stations, or any military installations.
Alcohol and pork products are usually only available in major hotels and restaurants and a handful of major tourist sites. Visitors are not able to purchase alcohol from retail outlets.
Food in the United Arab Emirates is usually prepared well, although care should be exercised with street vendors and smaller restaurants. Recently prepared food, cooked thoroughly and served at a venue with rapid turnover of customers, is usually the safest. A wide variety of good quality dining out options are available where you can find almost any type of food including Italian, Chinese, Mediterranean, Polynesian, Tex Mex, Indian and much more."