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July 3 2022 11:03 AM ˚
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Russians flock for new starts in Dubai

5. Dubai
Daria Nevskaya, a partner at Russian law firm poses for a picture in the Guld emirate of Dubai, on May 24, 2022. (Photo: AFP)
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DUBAI — As the Ukraine war drags on, more and more Russian professionals are moving to Dubai, the business-friendly Gulf emirate that offers an escape from the impact of Western sanctions. اضافة اعلان

The number of Russian entrepreneurs and start-ups has increased “tenfold” compared to last year in the International Free Zone Authority (IFZA), said Jochen Knecht, CEO of IFZA, one of Dubai’s many free trade areas established to attract foreign investment. “It actually started with IT companies, software companies, but now we see all types of companies — art galleries, resale, and trade of spare parts,” he said. “They are coming with employees, requiring office space and warehouses.”

Knecht said Russian investors were “very welcome” in the UAE, many are attracted by the welcoming environment as attitudes harden to Russians elsewhere.

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