FAQ Frequently Asked Questions


General Introduction

Formerly known as the Trucial States, in 1971 the rulers of six emirates unified and formed the United Arab Emirates, with the seventh emirate joining shortly. Bordering Oman and the Kingdom of Saudi Arabia, UAE’s total area spans approximately 83,600sq.km. The time zone being +4:00GMT, UAE’s diverse multicultural population is approximately 9.35 million with 80% being expatriates and a 90% literacy rate. UAE has a desert climate with summer experienced from April to September with temperatures ranging from 28°C (82.5°F) to 43°C (109°F). Winter season is experienced from October to March with temperatures stretching between 15°C (59°F) and 26°C (79°F). The capital of the country is Abu Dhabi while the currency is the UAE Dirham (AED) whose foreign exchange rate is pegged with the US Dollar at AED 3.67 per 1 USD. An Islamic country, UAE is the only GCC country that tolerates and welcomes people from all religious sects of the world while boasting of a vibrant nightlife. Having a steady currency while being politically stable are a couple of various benefits of living and doing business in UAE.

Commercial past present & future

From its humble beginnings as a trading hub for the pearling industry to a shift to resource based industries such as oil and gas, UAE is proud to presently have an economy grounded on its vibrant multi-sector pillars such as manufacturing, trade, transport, logistics, retail, tourism, banking, real estate, education and healthcare. With world class infrastructure and a tax free income system, UAE stands to be a sound investment market. According to the World Bank Group Report, in 2015, UAE globally ranks number 22 in ‘ease of doing business’, while its regional average is 106. Factors such as ‘starting a business’, ‘paying no taxes’ and ‘resolving insolvency’ are just a few of numerous indicators which determines its ranking. This clearly illustrates just how easy it is for an entrepreneur to open and run a business when complying with relevant regulations. Strategically located between Europe and the Far East, UAE’s tax free income system, family attraction attributes, high safety standards, and splendid entertainment amneties make the country a true global haven for all.

Industry Highlights

Manufacturing : Ease, efficiency, affordability. It constitutes 8% of total UAE workforce. The sector is projected to grow to an estimated 25% of GDP in the next 15 years.

Logistics : Low cost, superior infrastructure. Logistics wise, UAE is ranked number 1 in the Middle East by the United Nations. An 11% year on year growth is maintained.

Retail : One of the top shopping cities in the world. DSF (Dubai Shopping Festival) attracted 100,000 visitors on the very first day. There is a rising demand in retail sales amid escalating tourist influx. Retail sales are estimated to reach $ 45 billion in 2015.

Tourism : UAE is ranked as the 5th finest global destination in the world. In 2012, tourists spent USD 33 billion in the country. UAE had attracted over 12 million overnight international visitors in 2014. The nation is estimated to have 15 million tourists in 2015.

Trading : Being the first substantial non-oil sector of UAE, the Middle East’s top trading economy has already placed itself as the trading hub of the region. Yet, the continuous upward trend has stimulated UAE to place itself as a global hub for the world with its unrivalled infrastructure and strategic demographic location.