Life gave crypto businessman Ilman Shazhaev lemons when he acquired caught in Dubai within the wake of the COVID-19 lockdowns. Nonetheless, just like the outdated adage, he “made lemonades” by recognizing the alternatives within the nation.
In a Cointelegraph interview, Shazhaev shared that he acquired stranded within the Center-Jap nation through the pandemic lockdowns. Nonetheless, he quickly realized that it was a blessing in disguise.
“At first, it was a coincidence — I acquired caught in Dubai through the lockdown. Quickly sufficient, I noticed that that is the most effective place to conduct worldwide enterprise: very lucid enterprise rules plus a wonderful setting for entrepreneurs.”
When requested why he determined to relocate and launch companies in Dubai, the tech govt talked about the energy of the town’s rules. Shazhaev says that “the important thing level is that the native rules work as they need to: Neither cash nor connections might help you keep away from punishment in the event you violate the legislation.”
Aside from this, the businessman additionally talked about the benefits of IT-related companies relating to taxes. “For me, the most effective information is that for the reason that authorities is strongly focused on serving to the IT-sphere evolve, such firms are exempt from taxes,” he stated.
At first, the entrepreneur has additionally confronted a number of difficulties whereas doing enterprise within the area. Being a multi-cultural location, Shazhaev says it took some effort to adapt. “Adapting to the native enterprise mindset took some effort as a result of there are a variety of totally different nationalities right here,” says Shazhaev.
“Communication was troublesome at first. However after the primary few offers, I acquired the dangle of it, and enterprise acquired straightforward for me.”
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The businessman additionally in contrast his expertise inside Dubai to different international locations that he operated in. “I’ve been part of crypto firms positioned in China, Indonesia, Russia and Hong Kong. Not like in these international locations, there isn’t a forms mess within the UAE,” stated the tech govt.
Shazhaev runs a digital asset administration firm referred to as OneBoost. In 2019, he transferred the operations to the UAE. After some time, he launched one other enterprise referred to as the Farcana Metaverse in Dubai.
