The United Arab Emirates is an arab country situated in Western Asia.Border sharing countries are Oman,Saudi Arabia,Qatar and Iran. UAE consists of a federation of seven states (emirates) formed in 1971 after Britain withdrew from the Gulf. Geographically, UAE has a land area of 83,600 sq km. The capital city is Abu Dhabi but Dubai has the highest population of approximately1.6 million people.
Formal Name: United Arab Emirates (UAE)
President: Khalifa bin Zayed Al Nahyan.
Official language: Arabic
Term for Citizen(s): Emirati(s).
Capital: Abu Dhabi City.
Currency: UAE Dirham
POLITICAL ANALYSIS * UAE government formed as federation of seven emirates with one advisory body (Federal
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Relying primarily on immigrant employees, the UAE economy has projected itself as an employee-friendly nation. There is no tax levied on any personal income, including all types of salaries and capital gains. * The court systems are highly organized and efficiently run in the country. The UAE's establishment of civil and criminal courts has resulted in a diminished role of their Islamic equivalents. These new courts have been crucial in the establishment of Western corporations and foreign investment. * But the laws pertaining to the ownership of corporate holdings in the UAE are restricted, with a mandatory majority to be held resident companies. Current policy dictates that all businesses within the UAE are required to have at least 51% local ownership, except for those within the free trade zones. While the purpose of this legislation was to encourage entrepreneurship and business innovation among the Emirati population, it is expected to be amended in the near future to bring policy in line with WTO norms. However, there have been no changes yet in the law, resulting in continued restrictions on foreign investment.
* The UAE government places a lot of importance on sustainable development and environmental conservation in its economic development decisions. The EIA policy is monitored by the Ministry of Environment.