Coin Telegraph - EZRA REGUERRA
11 Mar 2022
Soon after getting stuck in the city, crypto entrepreneur Ilman Shazhaev says he realized that Dubai is the best place to conduct international business.
Life gave crypto businessman Ilman Shazhaev lemons when he got stuck in Dubai in the wake of the COVID-19 lockdowns. However, like the old adage, he “made lemonades” by recognizing the opportunities in the country.
In a Cointelegraph interview, Shazhaev shared that he got stranded in the Middle-Eastern country during the pandemic lockdowns. However, he soon realized that it was a blessing in disguise.
When asked why he decided to relocate and launch businesses in Dubai, the tech executive mentioned the strength of the city’s regulations. Shazhaev says that “the key point is that the local regulations work as they should: Neither money nor connections can help you avoid punishment if you violate the law.”
Apart from this, the businessman also mentioned the advantages of IT-related businesses when it comes to taxes. “For me, the best news is that since the government is strongly interested in helping the IT-sphere evolve, such companies are exempt from taxes,” he said.
At first, the entrepreneur has also faced several difficulties while doing business in the region. Being a multi-cultural location, Shazhaev says it took some effort to adapt. “Adapting to the local business mindset took some effort because there are a lot of different nationalities here,” says Shazhaev.