Don’t be a Dubai debtor
Dubai has gone from one of the most exciting booms of recent years to “its worst crisis since the UAE's founding 40 years ago,” with failing entrepreneurs now fleeing the country to escape debtors prison, with one back predicting “the city's 1.4 million population could shrink by almost a fifth.”
And yes, you read that right. Debtors’ prison. "According to police there are 450 people in Dubai's central jail imprisoned as debtors which highlights how seriously the UAE authorities view bankruptcies,” says Nick White of Dubai-based Trowers & Hamlins.