Dubai recorded a 54 percent year-on-year (YoY) growth in the number of new licenses issued in August, reflecting the ease of doing business in the emirate, a recent report from the Business Registration and Licensing sector of Dubai Economy shows.
During August 2021, Dubai issued 5,885 new licenses, up from 3,829 licenses issued in the same month last year, the report revealed. The rise in these figures is due to the measures taken by the emirate to simplify government procedures for setting up businesses and ensure their continuity.
According to the report, 59 percent of the new licenses issued in August 2021 were professional (3,473), 40 percent were commercial (2,378) and 1 percent were industrial activities. This confirms Dubai’s constant efforts to provide a supportive environment and infrastructure for local and international businesses.
Bur Dubai was one of the main areas where licenses were issued to businesses in August, accounting for the largest share (4,299), followed by Deira (1,577) and Hatta (9), Dubai Economy said.
According to the legal forms of the new licenses issued in August 2021, sole establishment companies topped the list with 38 percent, followed by civil companies and limited liability companies with 23.5 percent each. Other legal forms also included one-person limited liability companies, branches of companies based in other emirates, branches of foreign companies and branches of free zone companies.
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.
Investors can obtain any trade license or launch a business within few minutes through ‘Invest in Dubai,’ the first integrated digital business set-up platform, which simplifies the business journey without the need to visit service centers.
The platform offers initial approval, reservation of a trading name, issuance of instant licenses, Dubai SME licenses, Intelaq licenses, DED Trader licenses, in addition to electronic Memorandum of Association, and the renewal of commercial licenses.
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