«Economy and Tourism»: a growth of 69% compared to the same period in 2020

Dubai attracts 55 thousand new companies within 10 months

«Economy and Tourism»: Commercial licensing data confirms the strength and continuity of Dubai's ambitious economic growth.

From the source

A report issued by the commercial registration and licensing sector at the Department of Economy and Tourism in Dubai stated that 55,194 new licenses were issued during the first 10 months of 2021, a growth of 69%, compared to the same period in 2020, during which 32,626 licenses were issued.

Dubai attraction

The report indicated that these figures confirm the efforts made to provide incentives to ensure business continuity and sustainability, in addition to the attractiveness of the Emirate of Dubai to those wishing to engage in commercial activities, and increase the confidence of the business community in its economy, and the opportunities it provides for success.

The figures also confirm the strength and continuity of the emirate’s ambitious economic growth, its successful containment of the repercussions of the global crisis represented by the “Covid-19” pandemic, and the government’s speed in adopting and amending appropriate economic policies, and applying them on the ground, in order to raise the rate of economic growth, as well as reduce the cost of practicing business, and simplifying the requirements and procedures for starting business in the emirate, which contributes to enhancing the confidence of investors and businessmen in the promising prospects of the diversified national economy.

Categories and regions

The new licenses issued during the first 10 months of 2021 were distributed according to the license category, among the professional licenses by 59%, followed by the commercial licenses by 41%.

The report highlighted the distribution of these licenses according to the main regions in the Emirate of Dubai, where the largest share was the "Bur Dubai" region with a total of 37,562 licenses, then the Deira region with a total of 17,572 licenses, while the "Hatta" region registered 60 new licenses.

The distribution of licenses according to the highest sub-regions was as follows: "Al Fahidi", "Burj Khalifa", "Port Saeed", "Al Murar", "First Trade Center", "Al Khabaisi", "Al Barsha First", "Naif", "Al Garhoud", "dignity".

Legal form

The report indicated that “individual institutions” accounted for 38% of the total new licenses issued during the first 10 months of this year, according to the legal form, while “limited liability companies” accounted for 28%, followed by “businesses.” Civilians” by 24%.

The rest of the list of legal forms included: limited liability companies - one person, branches of companies headquartered in another emirate, branches of companies/institutions headquartered in a free zone, branches of foreign companies, branches of Gulf companies, private joint stock companies, public joint stock companies, and a simple recommendation.

Total Transactions

The report indicated that the total commercial registration and licensing transactions completed during the first 10 months of 2021 amounted to 233,908 transactions, a growth of 17% compared to the same period in 2020, when the total transactions at that time reached 199,888.

In turn, the total number of renewal transactions reached 120,120 procedures, a growth of 3%, compared to the same period in 2020, which recorded 117,030 procedures.

Initial approvals

The number of initial approvals during the first 10 months of this year reached 1,703 approvals, a growth of 44% compared to the same period in 2020.

In turn, the percentage of commercial permits increased by 9%, as 5,141 permits were issued in the first 10 months of 2021, compared to 4,709 permits during the same period in 2020.

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