The United Arab Emirates is globally known as a destination for business and luxury. The current slowdown during this world economic crisis has taken its toll on the UAE too, both in the oil and non-oil sector. However, the offset is not expected to last longer than the outbreak and is merely circumstantial. Once the global demand for oil resumes to its normal levels, and the household consumption comes back to normal, business will pick up where it was.
In regular conditions and in crisis, the UAE is still a world power in real estate, luxury tourism, global logistics and of course oil exports. This is what has attracted thousands of businesspeople to Dubai and Abu Dhabi, and the reason why it is one of the most important business hubs in the world. Private investigators in Dubai have reported an increase in due diligence services during the past few months, due to the restructuring that many companies have undergone throughout the pandemic.
Businesspeople are currently very conscious about the importance of risk mitigation activities. The lockdowns have put thousands of companies in a vulnerable position, and fraud has emerged with an unprecedented strength. Business has changed, some companies have gotten stronger, others are trying to survive in the turmoil and many have been pushed into bankruptcy. This has also a great impact on due diligence: those who are still standing have to find new providers, new distributors, new investors, new partnerships, all while trying to keep their business safe from fraud. This is certainly no time to fail in the due diligence process.
Why care for international due diligence?
International due diligence is one of the most important processes for any company that is going through the acquisition of a business, establishing new business relationships with new business partners, or expanding in new countries. For every single new deal, companies must do their due diligence to be absolutely sure they have their assets protected. By joining forces with an unknown source, you put your entire business at risk. This is why it is important to know every fact, to check under every stone, and to sign your contracts with informed consent. Doing business with fraud can ruin any company, especially during the current situation.
Hiring professional experts to conduct the due diligence makes the difference
Having the intention to conduct due diligence is not enough. To guarantee that there will be thorough investigation and to obtain reliable evidence companies need to work with the right private investigators in the UAE. Due diligence is an impossible task without expertise and access to the information locally in Dubai. Boots on the ground are essential.
What to check before getting started
Check the investigation firm’s website for professional trust seals and accreditations, such as McAfee and the Better Business Bureau. Such trust seals let the consumers know that you are dealing with a reputable firm that you can trust with your business’s private data.
Ask the investigation company for a detailed quote, given your specific situation. You will need to be sure that your due diligence is in fact comprehensive enough. There aren’t exact rules for how much investigating needs to be done. The due diligence process has to adjust to your business’s need for information and evidence, so make sure what you request is covered. If you need an individual or company in Dubai or United Arab Emirates verified, contact us for a free quote.
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