Dubai Economic Department (DED) has announced that it has issued 10.6 thousand electronic establishment contracts for companies since the beginning of this year until the end of last August, in addition to the issuance of 141 licenses, through electronic approval via text messages to the number (6969).

According to Dubai economic data, Emirates Today obtained a copy of it, that professional activities topped the establishment contracts and their appendices, which were ratified from January 2019 to the end of August, accounting for 58% of the total contracts.

Articles of incorporation

In detail, data of the Dubai Economic Department showed the issuance and certification of 10,640 companies' establishment contracts electronically, since the beginning of this year until the end of last August, in addition to the issuance of 4105 appendices of the establishment contract, in addition to the issuance of 141 licenses through electronic approval via text messages to number (6969), Without having to check with Dubai Economic, or authorized service centers.

According to the Dubai Economy, the issuance of the establishment contracts of the commercial licenses and all amendments thereto are in compliance with the decree of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, on Federal Law No. (7) of 2018, amending some provisions of Federal Law No. (2) For the year 2015 in respect of commercial companies.

The data showed that 78% of the contracts for commercial licenses issued were issued through the Dubai economy, while the percentage of annexes to the contracts reached 54%.

Activity

According to a report issued by the Dubai Economic Registration and Licensing Sector, the establishment contracts and their appendices, which were ratified from January 2019 to the end of August, varied according to activity, led by professional activities by 58% (6169 contracts), followed by commercial by 40% (4291). And tourism and industrial by about 2% (180 contracts).

The report pointed out that «limited liability companies» topped the list of legal form of licenses, where the number of (8757 contracts), followed by contracts of services agent for civil works companies (4072 contracts), then contracts of services agent for individual institutions, and contracts of establishing companies of one person.

The results of the report also showed that 1542 contracts were issued and ratified electronically, which represents 92% of the total incorporation contracts, in addition to 496 appendices of electronic contracts, 60% of the total annexes of the contracts during last August alone.

Facilitate business

These figures underscore Dubai's economic strategy, which aims to facilitate the movement of business in Dubai, and the continued competitiveness of the emirate and its attractive ability to attract companies and investors interested in sustainable growth, in addition to expanding their business in various economic sectors in Dubai.

He pointed out that business owners and companies, in the Emirate of Dubai, can ratify the contracts of incorporation and all its supplements electronically at Dubai Economic and all authorized service centers, for the contracts of establishing limited liability companies, one-person companies, and service agent contracts, by visiting Dubai Economic, Or through electronic approval via text message to the number (6969), without the need to review the Dubai economy.

One visit

Initial approval, trade name reservation and incorporation contract can be obtained electronically, and the trade license can be issued in one visit through Dubai's approved economic centers, which have electronic signature devices for issuing incorporation contracts and their appendices.

The report pointed out that the commercial registration and licensing sector is working to provide the finest and smartest services to customers, and facilitate the mechanism of doing business in various fields, in addition to keep abreast of the latest technologies and digital services and global technological development in the UAE and Dubai in particular.

Investing in modern technologies

Dubai's economy has confirmed that the emirate is always investing in modern technologies and applications to give its residents a lifestyle that makes it the happiest city in the world and to achieve an unprecedented living experience.

The Dubai Economic Department stated that it is establishing a clear mechanism based on quality and excellence at all levels, which will enhance the reality of business and achieve sustainable competitiveness in the economy of the Emirate of Dubai and the UAE in general.

She pointed out that the development and intelligent transformation in government services will be reflected positively on members of society, which contributes effectively to drive development, and keep abreast of the latest developments in the digital world.

1542

Electronic establishment contract,

Issued and ratified

Last month.