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About UAE

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Overview About UAE

United Arab Emirates is your ideal base for business in the Middle East region and beyond. Strategically located midway between the Far East and Europe, and between the former Soviet Union and Africa, this position places the Emirates in the hub of the dynamic trading environment of the Arabian Gulf. Nevertheless, even within a world-class trading center, setting up a company necessarily entails a large number of complex procedures and regulations. Understanding these and how to navigate your company through them is your key to success.

Therefore, "Doing Business in U.A.E." has been specifically designed to cater for the needs of people intending to carry out various business activities in the Emirates. It endeavours to provide a window to access the high quality of life and viable business environment prevailing in U.A.E.

1.    The United Arab Emirates (UAE) is a federation of seven Emirates that was formed by Abu Dhabi, Ajman, Dubai, Fujairah, Sharjah and Umm Al Quwain following the end of the British protectorate over the 'Trucial States' in 1971. The Emirate of Ras Al Khaimah joined the federation the following year.

2.    The UAE, apart from being a member of IMF, OPEC, WTO, etc., is a member of the Arab Gulf Cooperation Council (AGCC) whose other members are Saudi Arabia, Oman, Qatar, Bahrain and Kuwait. The blue print of the AGCC's Unified Economic Agreement was drawn up on 8th June, 1981. AGCC states are considering converting their currencies into a one single gulf currency by the year 2010, on the same lines as Euro. But prior to that, they will have a common custom's code within the next 2/3 years.

3.    Like its neighbours in the Arabian Gulf, the UAE is primarily known as a petroleum-producing economy which has achieved tremendous economic and social development in the last two decades. Most of the UAE's petroleum reserves are located in Abu Dhabi Emirate. Whilst the petroleum sector has dominated economic development in the UAE, attempts are being made to diversify into other sectors. Although the country is a federation, the member Emirates largely pursue their own policies. The Emirate of Dubai in particular is positioning itself as a regional trade centre and transportation hub and is rapidly developing into a tourist destination.

4.    The U.A.E. has now excelled as one of the Middle East's most dynamic countries. Positive planning and vibrant enterprises have developed the cities of the Emirates to a level of luxury that can only be matched by the most glittering cities of the world.

5.    U.A.E's easy and tolerant lifestyle has also been a major factor in attracting overseas investment. Alcohol is permitted and a range of first class leisure facilities have emerged and are still emerging. The attitude towards women is fairly liberal and many women, both foreign and local, pursue successful careers in the Emirates. Unlike some areas of the Middle East, women are free to drive and move around the town unaccompanied.

Further, U.A.E. is a very clean country and contains facilities that modern businessmen or women and their families may require. Its standard of living is relatively high. Accommodation is modern and spacious and all the major hotel chains are represented.

A very important aspect of U.A.E., which is instantly noticeable to foreign visitors, is the fact that it is virtually a crime-free country with one of the lowest crime rate in the world.

6.    Thanks to the vision of the Ruler of the U.A.E., massive investments have been undertaken for building its infrastructure. Today, U.A.E.'s airports, ports, roads, electricity, desalination plants and other facilities are truly world class, and naturally U.A.E. has established itself as a hub of economic activities in the region. U.A.E.'s trade, industry and services sectors are all very well developed and the country can pride itself in attracting the best of talent from all over the world, in disciplines ranging from accounting, legal, business advisory services, banking, finance, travel, tourism, leisure, health care, education and information/media technology.

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