Doing business in the United Arabic Emirates – Ghassan F. Hammoud

Investing in the UAE means tapping into a booming market with endless potential. Ghassan F. Hammoud, Founder of Yemnak explains how we make this journey smooth and rewarding by providing expert guidance and support every step of the way.

Ghassan F. Hammoud is a dynamic executive with a proven track record in strategy development and execution across various industries. With two decades of experience and a Bachelor’s in Banking & Finance from the Lebanese American University, Beirut, he excels in leading teams to sustainable growth through financial viability and innovation. His extensive network and expertise in turnaround management and technology adoption make him a valuable leader at Yemnak Management Consultancy L.L.C., ensuring long-term success for clients.

Yemnak focuses on supporting businesses in achieving outstanding results and maintaining sustainable growth. Can you elaborate on the specific services Yemnak offers to high-net-worth individuals and businesses in Greece looking to expand into the Middle East?

At Yemnak, we understand that expanding into new markets can be both exciting and daunting. Our goal is to make this journey smooth and rewarding for business owners and entrepreneurs. The Middle Eastern markets, particularly the UAE and Saudi Arabia, are experiencing significant growth. We help with the market entry strategy, advising on regulatory and compliance issues, and business development and networking. We, also, contribute to Investment planning with financial advisory, ensuring businesses will thrive with minimal risk. Cultural integration and training are very important, and we help businesses understand and adapt to local cultures as well as language barriers, making interactions smoother and more productive.

Given Yemnak’s boutique nature, how do you ensure Yemnak has the resources and expertise to handle the complexities of expanding into a new region like the Middle East?

Being a boutique consultancy means we focus entirely on our clients. We ensure we have the right resources and the expert team with deep knowledge of various industries and the Middle Eastern market. We collaborate with many niche and specialized experts, when needed, to provide the most accurate and relevant guidance while we stay updated with the latest trends and regulations to keep our clients ahead of the curve. We customize our strategies to meet the specific needs of each business, making sure they get the best results.

Cultural nuances can be significant when entering a new market. How does Yemnak help bridge the cultural gap between Greek businesses and potential Middle Eastern partners or clients?

We know that cultural understanding is crucial for successful expansion. Here’s how we help businesses bridge the cultural gap. To facilitate cultural understanding we act as a liaison between parties to overcome cultural challenges, representing investors and owners in their best interest. We provide guidance to help businesses understand local customs and business etiquette, making them feel confident and prepared while navigating social and business norms. We facilitate introductions and build strong relationships between Greek businesses and local partners, ensuring mutual benefits while we offer continuous support throughout the journey, making business interactions smooth and effective.

What are some of the biggest challenges Greek businesses might face when expanding into the Middle East, and how can Yemnak help them mitigate these risks?

We understand that expanding into the Middle East can seem overwhelming, particularly with concerns about language and cultural barriers, and regulatory procedures. However, the reality is that the markets here are incredibly welcoming and attractive, with clear procedures and significant tax benefits. For instance, the UAE ranks 10th globally for ease of doing business. The UAE is known for its pro-business policies, providing a supportive environment for foreign investors. Situated at the crossroads of Europe, Asia, and Africa, the UAE offers excellent connectivity and access to emerging markets. The UAE is a tax haven with no personal income tax and favorable corporate tax rates, enhancing profitability. With world-class infrastructure and a focus on innovation, the UAE is an ideal destination for businesses looking to thrive in a dynamic market. The UAE offers a high quality of life, making it an attractive location for both business operations and expatriate employees.

Can you share some success stories of how Yemnak has helped similar businesses from other countries expand into the Middle East? What were the key factors that contributed to their success?

Over the years, Yemnak has successfully assisted numerous companies, UHNIs, Family offices, locally and from various countries in entering the Middle Eastern market, on their own or through strategic partnerships. Yemnak is not just a consultancy but a trusted partner in your journey towards achieving remarkable business milestones.

Thank you very much!

For more information to start your journey with Yemnak, please contact us at: [email protected] – www.yemnak.ae. For Greek clients: [email protected].