Emphasizing the vitality of the economy and its great attractiveness to local and foreign investors
Dubai issues 45.6 thousand new commercial licenses in the first half
Dubai seeks to establish a distinct investment climate that is transparent and flexible.
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Hilal Saeed Al-Marri: "The positive results of the business movement report reflect the facilities related to doing business, and the simplification of requirements and procedures."
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The commercial registration and licensing sector in the Department of Economy and Tourism in Dubai announced the issuance of 45,653 new licenses during the first half of 2022, with a growth of 25% compared to the first half of 2021, during which 36,647 licenses were issued, confirming the flexibility of the system. Working, adopting appropriate economic policies and continuing their development, the vitality of the economy and its great attractiveness to local and foreign investment, while moving forward in the development process by adopting basic pillars, foremost of which is diversifying the economy and enhancing its sustainable growth opportunities.
Business Facilities
Hilal Saeed Al Marri, Director General of the Department of Economy and Tourism in Dubai, said that the positive results of the business movement report during the first half of 2022 reflect the facilities related to doing business, simplifying requirements and procedures, in addition to the full ownership of foreign investors, which is a pivotal step in the work system aimed at To achieve the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish a distinguished investment climate that enjoys transparency and flexibility, and to provide many diverse options for investment in different sectors, and to provide an ideal opportunity to conduct business easily and confidently in promising prospects. of the national economy, and raising the competitiveness of the business environment to world-leading levels.
Categories of licenses
According to the report issued by the commercial registration and licensing sector, the new licenses issued during the first half of 2022 were distributed according to the license category into: professional licenses by 55%, followed by commercial licenses by 45%.
Territorial Distribution
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 31,604 licenses, then the Deira region with a total of 14,22 licenses, and the "Hatta" region with 27 new licenses, while the The distribution of licenses according to the highest sub-areas as follows: Al Fahidi, Burj Khalifa, Al Murar, Port Saeed, Dubai Investments Park First, Naif, Al Quoz Third, Trade Center First, Al Barsha First, and Jebel Ali Industrial One.
Registration and licensing
The report indicated that the total commercial registration and licensing transactions completed during the first half of 2022 amounted to 261,958 transactions, a growth of 33% compared to the first half of 2021, which recorded 197,052 transactions, while the number of renewal transactions reached during the first half of 2022. To 92,948 transactions, a growth of 22% compared to the first half of 2021, which recorded 75,950 transactions.
Brand Names
The number of initial approvals during the first half of 2022 reached 39,303 approvals, a growth of 54% compared to the first half of 2021, which recorded 25,491 approvals.
The number of trade name reservations reached 41,731 names, a growth of 32% compared to the first half of 2021, which recorded 31,693 names, and 5,805 commercial permits were issued during the first half of 2022.
instant licenses
The report stated that the commercial registration and licensing sector issued 14,654 licenses instantly during the first half of 2022, pointing out that the issuance of the instant license, which takes only five minutes on the “Invest in Dubai” platform, invest.dubai.ae, with the option of issuing an electronic articles of association. And a virtual site for the first year only, and comes within the framework of focusing on supporting the process of economic diversification, sustainable growth and competitiveness in the emirate.
Legal form
The report confirmed that individual institutions accounted for 30% of the total new licenses issued during the first half of 2022, according to the legal form, while civil works accounted for 25%, followed by limited liability companies with 22%.
The rest of the list of legal forms included limited liability companies - one person, branches of companies based in another emirate, branches of companies / institutions based in a free zone, branches of foreign companies, branch of Gulf companies, public joint stock companies, private joint stock companies, and joint venture companies.
«Invest in Dubai»
The Department of Economy and Tourism in Dubai focuses on facilitating the procedures of transactions and commercial licenses, and is keen to keep abreast of everything new to develop and provide value-added services and initiatives to customers, within high quality standards, to reach the primary goal, which is Dubai being the leading cities in the world, in addition to the importance it attaches to To support the business sector and enhance Dubai's competitiveness through continuous communication with its partners in the private sector and agreement with the spectrum of society to adopt the best procedures that support the optimal workflow.
It is possible to start business in Dubai within a few minutes, and in an easy and smooth manner that saves time and effort, by visiting “Invest in Dubai”, the unified digital platform for establishing a business, via the link invest.dubai.ae.
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