Sunday 24 January 2021

Dubai issues business licences to 246,737 Indians

DUBAI, November 9, 2019

Dubai has issued a total of 64,360 active business licences to 246,737 Indian businessmen till date, thus underlining the strong interest of the Indian businessmen in the competitive Dubai market, according to a report by Business Registration & Licensing (BRL). 
Of the total active licences issued to Indian companies, commercial activities accounted for the largest share at 49,900 (77.5%) with 212,500 Indian investors, followed by Professional activities with 13,037 licences (30,153 investors), 1,404 Industrial licences (4,042 investors), and 19 Tourist licences (42 investors).
Together, these companies have added 854,234 jobs to the labour market, stated the BRL report.
India is one of the most prominent partners of Dubai and the UAE and the number of licences being issued by Dubai Economy shows that the emirate is fast emerging as a favourite destination for Indian investors and entrepreneurs, chiefly due to its strategic location and diversified economy, stated the report. 
Dubai’s safety and stability as a place to live, work and ensure sustainable business growth have also been an added attraction for Indian businessmen, it added.
Of the total number of Indian businesses licenced, 53,099 are Limited Liability Companies, 5,951 are Proprietorship firms, 3,622 are Civil Companies, 644 are Branches of companies registered in other emirates, and 287 are either Limited Liability Company - Single Owner (LLC - SO) or Branch of Foreign Company. 
Other legal forms also included Partnership Company, Simple Partnership Company, Branch of a GCC Company, Branch of Company Registered in free zone, Private Joint Stock Company, Public Joint Stock Company, Businessmen Forum and Government Liaison Office, according to the BRL report.
The main activities of the Indian investors in Dubai include: Contracting; Electronics; Ready-made Garments; Building, maintenance and cleaning; Mechanical and engineering; Consulting - management and information; Building materials; Transport, shipping and storage; Food and beverage; Pharmaceuticals; Books and stationery; Electrical and electronic equipment repair; Optical and visual inspection services; Advertising; Printing; and Consumer complexes, it added.-TradeArabia News Service


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