UAE: Abu Dhabi

In terms of addressing business challenges, improved corporate governance requirements, better risk management practices, and reforms to the legal framework would enhance the development and resilience of the UAE economy. Good corporate governance is a key factor in sustaining economic growth. Adhering to best practices in this respect can play an important role in...

NATIONAL CHARACTER: Emiratis are known for their warm hospitality, a feature that is embedded in traditional culture, as well as modern business practice. They also take pride in their rich heritage.

Abu Dhabi City is the capital of the UAE, which was founded in December 1971 as a federation between six of its seven constituent emirates, namely, Abu Dhabi, Dubai, Sharjah, Ajman, Fujairah and Umm Al Quwain. The emirate of Ras Al Khaimah (RAK) joined the following year. The federation is governed by the UAE constitution, which permits each emirate...

The federal government of the UAE has not promulgated any tax laws. Most of the individual emirates have issued corporate tax decrees, but, in practice, taxes are only imposed on oil- and gas-producing companies at rates set forth in their government concession agreements, and on branches of foreign banks at rates set out in specific tax decrees...

Reforms carried out over the past several years have been geared toward preparing Emiratis to fill the jobs needed in Abu Dhabi’s increasingly industrialised economy. As part of its strategic development plan, the Abu Dhabi Economic Vision 2030, the government aims to transform the emirate into a knowledge-based economy by focusing on high-skill...