There are seven emirates in the UAE: Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain. Fewer than one-eighth of the population (1.4 million out of 10 million) are citizens, while the remainder is foreign workers.
The discovery of oil in the 1960s made a significant change leading to economic and political development that affected a lot of locals’ lifestyles. The local economy was based on the state’s profits from its natural resources, but other industries developed in production and export. The UAE is considered a country with a minimum of bureaucracy. A policy that opens the market to more sectors and Free trade zones is desirable to foreign investors.
One of the main reasons for the development of the economy in the United Arab Emirates, and therefore for more and more companies moving their offices to the Emirates, is the zero tax policy and the option of foreign ownership.