Dubai business licenses issued in Aug register 54 percent growth

DUBAI: A total of 5,885 new licenses were issued during August 2021 by Dubai Economy, a growth of 54 percent compared to the same period in 2020, when 3,829 licenses were issued.
A report by the Business Registration and Licensing sector of Dubai Economy said 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.
The report said 59 percent of the new licences issued in August 2021 were professional (3,473), 40 commercial (2,378) and 1 percent industrial activities.
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 the ease of doing business in the emirate and expanding investment and growth, which drives sustainable economic growth,” an official statement said.
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 percent, followed by civil companies and limited liability companies with 23.5 percent each.
The legal forms also included a one-person limited liability company; branches of companies based in other emirates; branches of foreign companies and branches of free zone companies.
Dubai Economy said 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 trading 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.