Dubai issues more than 24,000 business licences in first three months

Dubai issues a total of 24,662 new business licences in the initial three months of the year, which is 58% more than the same period in 2021, as the emirate continues to recover from the after-effects of the COVID-19 pandemic.

Dubai issues a total of 24,662 new business licences in the initial three months of the year, which is 58% more than the same period in 2021, as the emirate continues to recover from the after-effects of the COVID-19 pandemic.

On Sunday, 10 April, the Department of Economy and Tourism in Dubai said that the substantial growth in new business licences shows the confidence that businesses and investors have in Dubai’s growth potential in various sectors.

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It further said, “The remarkable growth underlines the strong fundamentals, stability and sustainability of Dubai’s economy, led by an evolved vision and a strong ability to resist challenges and maintain a healthy growth rate.”

Dubai has also taken various measures to ease doing business in the emirate, boost economic growth, support productivity, focus on sustainability, continue diversification and further raise competitiveness in the emirate.

Dubai Expo 2020, which concluded on 31 March, helped around 76% of the companies in the emirate to increase growth during its six-month run, a survey by the Dubai Chamber of Commerce found.

The DET data identified new business registrations by geographical category and locations.

75% of the mew business licences that have been issued during the first three months of this year were professional while 43% were commercial, said DET.

Bur Dubai had the largest share, taking around 16,577 of the new licences issued, whereas Deira accounted for 8066 and Hatta at 19.

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The top sub-regions were Al Marrar, Al Fahidi, Burj Khalifa, Port Saeed, Al Quoz 3, Dubai Investment Park 1, Naif, Hor Al Anz East, Trade Centre 1 and Al Barsha 1.

Among the kinds of new licences issued, sole proprietory companies topped the list with 33%, followed by civil companies with 26% and limited liability companies at 19%.

Around 136,034 business registration as well as licencing transactions got completed during the first quarter, up 36% from the prior-year period, said the authority.

The number of initial licences reached 19,835, a boost of 43 per cent year-on-year, while trade name reservations reached 22,112, which is 29 per cent more than the prior-year period.

Around 7,492 instant licences were given during the first quarter, marking a boost of 310 per cent.

The instant licence service allows the businessman to obtain a commercial licence within five minutes of the Invest in Dubai platform to launch and run a business in Dubai. They can get the licence in one step without having a company lease or location for the initial year.

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