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Country profile: doing business in UAE


Published:

Local Name: Al Imarat al Arabiyah al Muttahidah

Size: Mainland - 77,700 sq km, surrounding islands – 5,900 sq km (mostly uninhabited)

Climate: Desert with hot temperatures all year round on the coast, cooler winter temperatures inland and in the eastern mountains

Independence Day: December 2, 1971 (from the UK)

UAE Flag

The colors of the  UAE flag symbolize Arabian unity. Above is the national flag; however, each of the seven emirates has its own flag, except for Fujairah, which uses the national flag.

Adjective: Emirati

People: South Asian – 50%, Iranian – 23%, Emirati – 19%

Population: 5.8 million (more than 80% are immigrants/expatriates)

Urban Population: 85.5% of total population

Rate of Urbanization: 2.9%

Population Growth Rate: 2.6%

Median Age: 30

Literacy Rate: 94% (slightly higher for women)

Capital: Abu Dhabi (Pop. 1.1 Million)

Other Major Cities: Dubai (2.4 Million) and Sharjah (1.3 Million)

Languages: Arabic (official), English

Religion: Islam (Official) – 76%, Christian – 9%, Hindu, Buddhist and other – 15%

Popular sports: Soccer, cricket and Formula One racing

Government: Federation of seven emirates (hereditary absolute monarchies), with an executive branch led by a president and prime minister

dirham

Currency: dirham (AED)
Exchange Rate: USD$1.00 = 3.67 AED

Economic Freedom Rank: 25th in the world

Press Freedom Rank: 120th in the world

Democracy Index Rank: 152nd in the world

Infrastructure: Excellent

GDP (PPP): USD$600 Billion (33rd in the world)

GDP Per Capita: USD$64,500 (13th in the world)

GDP Growth Rate: 3.6%

Corporate Tax Rate: 0% (except for petroleum industry)

Capital Gains Tax Rate: 0%

Labor force by Sector: Industry (15%), Services (78%)

GDP Composition by Sector: Industry (59%), Services (40%), Agriculture (0.6%)

Time Difference: 9 hours ahead of Eastern Standard Time

Calling Code: +971

Internet country code: .ae

Embassy Address: Embassies District, Plot 38 Sector W59-02, Street No. 4, Abu Dhabi

Embassy Phone Number: [971] (2) 414 2200

Sources: bbc.com, CIA World Factbook, eiu.org, eoearth.com, globalpropertyguide.org, heritage.org, Reporters Without Borders, U.S. Commercial Service website

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