The UAE was formed on 2 December 1971 and since the discovery of oil more than 40 years ago, the nation has transformed into a modern state with a high standard of living and cities that are key economic players.
The United Arab Emirates is comprised of seven independent states in the Arabian Peninsula: Abu Dhabi (Capital), Dubai, Sharjah, Ajman, Umm al-Quwain, Ras al-Khaimah, and Fujairah. Its geographical location and amicable time zone (GMT +4), give businesses wishing to access markets in Africa, Asia, and Europe a regional and business-centric hub from which to operate. These states have distinct characteristics, and their developing economies provide several business prospects in a variety of industries, including banking, trade, commerce, service, manufacturing, and construction.
According to the World Bank's report UAE is the strongest performer overall in the Middle East and North Africa region, with an ease of doing business score.