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Image courtesy: WAM

Dubai’s new business licences surge 69% in 2021

DUBAI, January 19, 2022

Dubai issued 72,152 new business licences in 2021, a growth of 69 % compared to 2020 when 42,729 licenses were issued, reaffirming Dubai’s position as a global business and investment hub, a report said.

According to data released by the Business Registration and Licensing (BRL) sector at the Department of Economy and Tourism (DET), 59% of new business licences issued in 2021 were professional and 41% were commercial, reported Emirates News Agency WAM.

Bur Dubai accounted for the largest share (48,562) of new licences issued followed by Deira (23,513), and Hatta (77), while the top sub-regions were: Al Fahidi, Burj Khalifa, Al Marrar, Port Saeed, Trade Centre 1, Naif, Dubai Investment Park 1, Al Barsha 1, Al Quoz 3, and Al Karama.

Among the legal forms of the new licences issued, Sole Establishment companies topped the list with 37%, followed by Limited Liability companies with 26% and Civil Companies with 13%. The legal forms also included: One-Person Limited Liability Companies, Branches of companies based in other emirates; Branches of Foreign Companies; Branches of Free Zone Companies; Branches of GCC Companies, General Partnership Companies; Public Shareholding Companies; and Private Joint-Stock Companies.

A total of 430,921 business registration and licensing transactions were completed in 2021, a growth of 24% compared to 2020, when total transactions reached 347,496. The number of Initial Approvals reached 60,293, a growth of 47% compared to 2020 (40,982), while Trade Name Reservations reached 72,772, a growth of 42% compared to 2020 (51,252). Commercial Permits increased by 15% from 10,687 in 2020 to 12,284 in 2021.

The BRL sector reported that 15,196 Instant Licences were issued in 2021, a growth of 427% compared to 2020, during which 2,884 licences were issued. Through the Instant Licence, which is issued within five minutes on invest.dubai.ae platform with the option to issue an electronic MOA and a virtual site for the first year only, the Department of Economy and Tourism aims to drive the sustainable economic development and competitiveness of Dubai.

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.



 




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