UAE COMPANIES

About UAE


The UAE is one of the wealthiest countries in the world with a GDP of US $103 billion (2004).

Population

UAE is Located along the southeastern tip of the Arabian Peninsular. the current population is approximately 250,000 but this is expected to raise to 400,000 by 2017


The Economy

The UAE has the third largest proven oil reserves, however RAK has broadened its economic activity to include an industrial platform, real estate, trade and manufacturing.

The emirate of Ras Al Khaimah is strategically located between Africa and the Middle East and between the Far East and Europe, making it a gateway to over 1.5 billion consumers located in countries surrounding the Red Sea and the Gulf.

Its infrastructure is of the highest standards with access to more than 170 shipping lines and approximately 86 airlines connecting to over 100 cities worldwide.

Language

English is the official language of business but Arabic, Persian, Hindi, and Urdu are widely spoken.

Currency

The Dirham: The current rate is 6.9 Dirhams = £ 1 and pegged to the dollar at 3.67 AED per $ 1 US.

Exchange control

None.

Type of law

Federal, except for Dubai and Ras Al Khaimah who maintain their own judicial systems.



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