The United Arab Emirates
The UAE continues to lead the region in terms of numbers of reforms implemented, with five reforms implemented over the past year. The UAE made Dealing with Construction Permits easier by implementing risk-based inspections, an international best practice feature, implemented by only 13 other countries across the globe.
The Emirates also made it easier to start a business by streamlining name reservation and articles of association notarization and merging registration procedures. The name availability check, reservation, and payment can now be done online at the website of Department of Economic Development.
Recently, the Department of Economic Development in the UAE launched electronic memorandum of association and "120-day" hassle-free trade license initiatives. These reforms are a move towards online registration, which will make starting a business easier.
The Emirates jumped 39 ranks in the Protecting Minority Investors category. The United Arab Emirates strengthened minority investor protections by increasing shareholder rights and role in major corporate decisions, clarifying ownership and control structures, and requiring greater corporate transparency.