The United Arab Emirates (UAE) ranks first among the countries most attractive place to foreign direct investment in the Middle East (ME) and African region. UAE is an elective monarchy formed from a federation of seven emirates, consisting of Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm-Al-Quwain. UAE is famous for its tallest human-made structure, the Burj Khalifa, and the Burj-Al-Arab, one of the tallest hotels building in the world. After Saudi Arabia, UAE has the second-largest economy in the Arab world with a GDP of USD 414 billion wherein its one-third of the GDP comes from oil revenues. Its free trade zones attract foreign investors by offering 100% foreign ownership and zero taxes.