Dubai Economy issues 5,885 new licences in August - GulfToday

Dubai Economy issues 5,885 new licences in August

Dubai Economy

The photo has been used for illustrative purpose.

A recent report by the Business Registration and Licensing sector of Dubai Economy revealed that 5,885 new licenses were issued during August 2021, a growth of 54% compared to the same period in 2020, when 3,829 licenses were issued.

The figures reflect the ease of doing business in the Emirate, and the measures taken to ensure business continuity and further simplify government procedures for businesses, thus reinforcing Dubai’s status as a global hub and the world’s best place to live and work.

According to the report, 59% of the new licences issued in August 2021 were professional (3,473), 40% were commercial (2,378) and 1% industrial activities. This confirms the emirate’s constant efforts to provide a supportive environment and infrastructure for local and international businesses.

According to the main areas, Bur Dubai accounted for the largest share (4,299) of the new licenses issued followed by Deira (1,577), and Hatta (9).

Dubai Economy strives to deliver solutions that contribute to enhancing ease of doing business in the emirate and expanding investment and growth, which drives sustainable economic growth. This highlights Dubai Economy’s vital role in providing value-added services to businesses in Dubai as well as strengthening the emirate’s economic competitiveness, including its ability to provide businesses high-growth opportunities in various economic sectors.

According to the legal forms of the new licenses issued in August 2021, the report showed that Sole Establishment companies topped the list with 38%, followed by Civil companies and Limited Liability companies with 23.5% each. The legal forms also included One-Person Limited Liability Company; Branches of companies based in other Emirates; Branches of Foreign Companies; and Branches of Free Zone Companies.

Investors can obtain any trade licence or launch a business in a matter of minutes through ‘Invest in Dubai,’ the first integrated digital business set-up platform, which simplifies the business journey without the need to visit service centres. The platform provides initial approval, reservation of a trade name, issuance of instant licences, Dubai SME licences, Intelaq licences, DED Trader licences, in addition to electronic Memorandum of Association, and the renewal of commercial licences. WAM

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