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Issuance of new Dubai licences surges 68%

Dubai - A report by released by the Business Registration and Licensing sector of Dubai Economy also revealed that in September a total of 26,232 business registration and licensing transactions were conducted

Dubai Economy issued 6,928 new licences in September, a growth of 68 per cent compared to the same 2020 month, reflecting the emirate’s robust economic growth.

A report by released by the Business Registration and Licensing sector of Dubai Economy also revealed that in September a total of 26,232 business registration and licensing transactions were conducted. It is a growth of 12 per cent compared to the same period in 2020, when total transactions reached 23,455, Dubai Economy said in a statement.

This growth underscores the efforts of Dubai Economy to provide value-added services to businesses in Dubai to facilitate business and commercial activities, said the statement.

“The figures reflect the emirate’s ability to maintain its robust economic growth, high levels of ease of doing business, measures to ensure business continuity and further simplify business procedures, and enhanced business competitiveness,” Dubai Economy said.

According to the report, 56 per cent of new licences issued in September 2021 were professional, 43 per cent were commercial and the remaining one per cent was distributed among the industrial and tourism categories.

“The positive growth figures validate Dubai’s ability to provide businesses high-growth opportunities in various economic sectors and the increasing confidence in the strength of the local economy. 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,” it said.

Bur Dubai accounted for the largest share (4,658) of new licences issued followed by Deira (2,264), and Hatta (6), while the top sub-regions in September 2021 were: Al Fahidi, Burj Khalifa, Port Saeed, Al Marrar, Dubai Investment Park 1, Naif, Al Muraqqabat, Al Karama, Trade Centre 1, and Al Garhoud.

Sole establishment companies topped the list with 36 per cent, followed by limited liability companies with 25.5 per cent and civil companies with 22 per cent. The licence types also included one-person limited liability companies; branches of companies based in other emirates; branches of foreign companies; and branches of free zone companies.

The number of trade name reservations reached 7,404, a growth of 40 per cent compared to September 2020 (5,274), while the number of Initial Approvals reached 6,057, a growth of 49 per cent compared to the same period last year (4,072). Commercial permits increased by 22 per cent from 743 in September 2020 to 903 in September 2021.

— issacjohn@khaleejtimes.com