UAE Guides
Everything high net worth investors and expats need to know about the UAE from its tax-free environment and USD pegged currency to world class education, healthcare, and cultural diversity. The UAE is the 7th wealthiest nation on earth and the 2nd safest country in the world. Your new home starts here.
Country Profile
Dubai is a part of the United Arab Emirates (UAE). The UAE was founded in 1971 as a federation of 7 Emirates. The country’s progressive leaders quickly realized the importance of economic diversification and began focusing heavily in non-oil sectors of the economy while also uplifting the country through heavy investments in infrastructure, healthcare, and education.
Similar to the Federal and State government structure of the United States, the UAE’s 7 Emirates operate as separate states with an overarching federal government.
Interesting Facts about the UAE
UAE Economy
Strategic location, strong financial reserves, large sovereign wealth funds, promising investor home economies, consistent government spending, progressive policies of economic diversification, free trade zones and increased foreign direct investment contribute to the UAE’s robust economy.
Although the UAE has sixth largest proven oil reserves and the seventh largest natural gas reserves, the UAE’s leadership understood and appreciated the importance of diversification away from the fossil fuel sector, leading to the rise of Dubai as a truly global aviation and maritime trading hub.
Today, only one-third of the UAE’s Gross Domestic Product is related to oil revenue, with the remaining two-thirds comprised of the following major industries: wholesale and retail trading, banking and financial services, construction and building, transformative industries and manufacturing, real estate, transportation, logistics and storage, among many other dynamic sectors.
Currency
The United Arab Emirates official currency is the Emirati Dirham, symbolized as AED. The currency is one of the most stable in the world due to its peg to the United States Dollar (USD). The current exchange rate is USD
$1 = AED 3.67
Tax Code
Arts & Humanities
The UAE has a long cultural history dating back to ancient times drawn from many changing civilisations. From the Bedouin tribes, who travelled across the deserts, to the centuries of pearl harvesters along the Arabian Gulf. Today, the UAE takes a pride in the cultural past whilst supporting and encouraging contemporary arts, literature and theatre. Dubai is strewn with art galleries, museums, Opera and theatre offering an insight into the past as well as the future of the arts.
In 1998 the City of Sharjah was voted the Cultural Capital of the Arab World and houses a museum recording local history in the Sharjah Fort which was once the residence of the Ruling Family. The oasis city of Al Ain known as the 'Garden City' with its natural springs and palm groves is a UNESCO World Heritage Site. The Al Ain National Museum exhibits archaeological finds from around the city including stone-age and bronze-age remains.
Contemporary literature, poetry and performing arts are taking their place in popularity particularly that of 'spoken poetry' which has its roots in historical tradition. Nabati poetry which has long been known as the 'people's poetry' is still very much a part of modern literature and has over centuries recorded the lives and habits of changing civilizations.
Culture
The UAE has a long cultural history dating back to ancient times drawn from many changing civilisations. From the Bedouin tribes, who travelled across the deserts, to the centuries of pearl harvesters along the Arabian Gulf.
The UAE is the most liberal country in the Arabian Gulf. The UAE is extremely tolerant of other nationalities religions and accords religious freedom to the expatriate population. Family is an important key to UAE society and is based upon the long-held values of Emirati tribal kinship. Although traditionally, Emirati culture has been based upon a patriarchal society, the UAE endorses gender equality, guaranteeing equal rights for both sexes. Women are awarded the same legal status, access to education and employ-ment, claim to titles and he right to inherit property.
Cuisine in the UAE emanates from a rich history of changing civilizations. Since much of the Emirates lies on the coast of the Arabian Gulf, fish and seafood is very much a mainstay of the UAE diet.
Food
Cuisine in the UAE emanates from a rich history of changing civilizations. Since much of the Emirates lies on the coast of the Arabian Gulf, fish and seafood is very much a mainstay of the UAE diet. Muslims do not eat por but most other meats are used in the cuisine with a preference for lamb, goat and chicken. One of the most frequently eaten foods is Shawarma which is spit roasted meat or mixed meats served with a variety of ingredients such as tabbouleh, tahini, hummus, pickles, cucumber or tomato. It can be served on a plate or in a Taboon bread (flatbread).
Education
The UAE is one of the most educated countries in the MENA Region, boasting a literacy rate above 95%
There are over 120 accredited universities throughout the country, with more than 50 in Dubai’s International Academic City and Knowledge Village alone. International campuses of world renown academic powerhouses such as NYU Abu Dhabi, RIT Dubai, American University of Dubai, Canadian University of Dubai, Heriot-Watt University, and Wollongong University also have campuses in the UAE.
Primary and Secondary schools are privately operated and strictly regulated and evaluated annually by the Knowledge and Human Development Authority (KHDA) in Dubai.
Language
The official language of the UAE is Arabic, however English is the primary lingua franca, and almost all business is conducted in English. Other popular languages include Hindi, French, Farsi Mandarin, Russian, Malayalam, among many others.
Population & Diversity
The population of the UAE is just shy of 10 Million residents, with nearly 90% of the country's population being foreign expatriate workers.
The country's exceptionally high net migration rate of 21.71 is the world's highest and is the reason the population continues to steadily increase year on year.