Thursday, March 19, 2009

Moving to The United Arab Emirates

I have had a lot of clients looking at moving to The Middle East, in my first blog on a country, I will focus specifically on The UAE.

It is a union of seven small Arab emirates.

LOCATION: The United Arab Emirates is in the Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia.

CAPITAL CITY: Abu Dhabi

LARGEST CITY: Abu Dhabi

CURRENCY: UAE Dirham (AED)

ECONOMY: The United Arab Emirates has a highly industrialized economy. Although the UAE is becoming less dependent on natural resources as a source of revenue, petroleum and natural gas exports still play an important role in the economy. A massive construction boom, an expanding manufacturing base, and a thriving services sector are helping the UAE diversify its economy. There is currently approximately $350 billion worth of active construction projects. Although Dubai's economy was built on the back of the oil industry, revenues from oil and natural gas currently account for less than 6% of the UAE's revenues. The government's decision to diversify from a trade-based, but oil-reliant, economy to one that is service and tourism-oriented has made real estate more valuable, resulting in extreme property appreciation. Large scale real estate development projects have led to the construction of some of the tallest skyscrapers and largest projects in the world such as the Emirates Towers, the Palm Islands and the world's tallest, and most expensive, hotel the Burj Dubai.

Climate
From October to April (Winter) - moderate temperatures averaging 20 degrees.
The temperature peaks in Summer (May to September) up to 49 degrees.
Sandstorms and dustorms are common, while the eastern highlands are generally cooler and rainier.

HISTORY
The emirates had its beginnings in the 18th Century. The economy relied on pearl fishing and trading. In the 1820s, Britain forced the states to sign a series of treaties due to the conflict between ruling leaders and piracy along the coast. They took control of foreign affairs. In 1958, oil was discovered and in 1962 the first exports began. In 1952, the emirates set up a Trucial Council to increase cooperation between the various states and in 1968 Britain announced the withdrawal of its forces.

POLITICS
in 1971, he country became independent, when 6 of the 7 states agreed to form a single country - the United Arab Emirates. In 1972 the last state joined the emirates.
The emirates consist of the following states - Abu Zaby (Abu Dhabi), Ajman, Dubayy (Dubai), Al Fujayrah, Ash Shariqah (Sharjah), Umm-al-Qaywayn and Ras al Khaymah.
Each Emirate has its own Emir who controls internal affairs.
The federal government controls foreign affairs and defence and plays a leading role in the social and economic development of the country.
The 7 Emirs form a Federal Supreme Council, it elects the federation's president and vice president who serve for five years.
The President appoints the Prime-Minister. The country is one of the most liberal and tolerant of the Persian Gulf countries, but is the only one without elected bodies.
It is the 6th largest oil exporter in the world.

For more information on :
Abu Dhabi
Dubai




Tomorrow I will discuss the Cost of living in the emirates in more detail....