UAE Legal Lecture for Chinese Enterprises Successfully Held

On March 9th, the "Legal Public Welfare Lecture for Chinese-funded Enterprises in the UAE" and the "Shandong Trade Promotion Overseas Mission" event were successfully held at the CNPC (China National Petroleum Corporation) Dubai office.

Under the guidance of the China Council for the Promotion of International Trade (CCPIT) Gulf Regional Office and the Shandong Provincial Council for the Promotion of International Trade, the event was organized by Winson Law Firm in the UAE, China Petroleum's subsidiary Huayou Group Middle East Branch, and the UAE Shandong Chamber of Commerce. Additionally, representatives from China Export & Credit Insurance Corporation Dubai Office and ZhengDao (Dubai) Accounting Firm were invited to participate as lecturers.

Over 90 participants attended the lecture, including representatives from the Shandong Council for the Promotion of International Trade, Shandong enterprises, as well as representatives from Chinese-funded enterprises and legal practitioners in the UAE. The discussion centered around the theme of "strengthening legal and economic trade services in foreign affairs," aiming to facilitate comprehensive understanding of the business and legal environment in the UAE for visiting Shandong enterprises and Chinese-funded enterprises in the UAE. The goal was to enhance the legal and financial risk prevention and management capabilities for overseas investment and international trade of visiting enterprises.

Zhao Liyan, Chief Representative of the China Council for the Promotion of International Trade (CCPIT) Gulf Regional Office, delivered the opening remarks for this session of the lecture hall. Zhao warmly welcomed the Shandong enterprises who had traveled from afar, congratulated the forum's organization, and encouraged the visiting Shandong enterprises to not only engage in business connections but also to comprehensively understand the business and legal environment in the UAE. She emphasized the importance of thorough legal risk prevention alongside business endeavors.

Ren Ge, Chief Representative of the China Export & Credit Insurance Corporation Dubai Office, was invited to deliver a keynote speech. Ren introduced the country profile of the UAE and his statement that "this is the best of times, and the age of wisdom" resonated widely. Ren pointed out that as the only state-owned policy-oriented insurance company, Sinosure (China Export & Credit Insurance Corporation) has the capability and willingness to provide credit guarantees for international trade activities, including those of visiting Shandong enterprises.

Lu Wenming, Deputy General Manager of the Middle East Branch of Huayou Group, a subsidiary of China Petroleum, spoke on behalf of the organizers. Lu first extended a warm welcome to the arrival of Shandong enterprises, expressing hospitality as hosts. He pointed out that since its establishment in 2019, the Middle East Branch of Huayou Group has been tasked with the important mission of expanding international markets and serving the national oil and gas strategy. Lu's introduction of Huayou Group's overseas "mega-logistics" service system left a profound impression on the attendees.

Ethen Gai, founding partner of the Winson Law Firm in the UAE and part-time mentor at China University of Political Science and Law, delivered a training session titled "UAE Legalized Business Environment in the New Era of China-UAE Relations".

Gai thoroughly presented the legal system and business environment characteristics of the UAE, pointing out that while the UAE boasts commercial prosperity and advanced trade, it has a low tax but high fee structure, a mix of good and bad elements, necessitating careful budgeting, increased risk prevention, thorough due diligence, and avoiding blind investment trends. Gai also cited several international trade and transnational investment fraud dispute cases handled by the Winson Law Firm to illustrate his points, providing legal risk warnings and advice to the visiting businesses. Ethen Gai's course was a core component of this legal public welfare lecture series, and his excellent presentation and rich case studies received widespread praise from attendees.

Continuing the translation: Chen Leyi, representative of the Dubai Office of China Export & Credit Insurance Corporation, conducted a themed training titled "Risk Management for Enterprises in Economic and Trade Activities in the UAE". During the lecture, Representative Chen pointed out that the UAE's entrepot trade is thriving and the market competition is fierce. Chinese enterprises rely on hard power to "go global" and soft power to "stay global", emphasizing that companies with the desire to venture overseas should discern "shell buyers" and be wary of "boutique firms". She also suggested that enterprises pay attention to contract signing and applicable legal terms to protect their own rights and interests.

Yi Xianchuang, the director of ZhengDao (Dubai) Accounting Firm, delivered a themed training titled "UAE Tax System". Director Yi elaborately introduced the UAE's current major taxes, including Value Added Tax (VAT), Corporate Income Tax (CIT), Consumption Tax, and Customs Duties, among others. He also systematically covered other tax-related regulations such as economic substance, disclosure of ultimate beneficial owners, withholding tax, and transfer pricing.

The lecture received an overwhelming response, and the participating entrepreneurs from Shandong expressed that the legal risk warning training was very timely and held significant practical value for Chinese enterprises planning to expand into the Middle East.