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A recent report from the Business Registration and Licensing Department of the Dubai Ministry of Economy and Tourism shows that a total of 55,194 new business licenses were issued in the first 10 months of 2021, an increase of 69% compared to the 32,626 licenses in the same period in 2020. release. The positive growth figures highlight Dubai’s reputation for providing high growth opportunities for various economic sectors and growing confidence in the economy.
The increase in the number of issued licenses also reflects the economic strength, Dubai’s success in managing the impact of COVID-19, the government’s agility in revising economic policies to promote economic growth, the reduction of operating costs, and simple procedures for entrepreneurship, all of this All help to strengthen investors’ confidence in Dubai’s diversified economy.
According to the report, 59% of the newly issued business licenses are professional and 41% are commercial. Bur Dubai accounted for the largest share of newly issued licenses (37,562), followed by Deira (17,572) and Hatta (60). The main sub-regions in the first 10 months of 2021 are: Al Fahidi, Burj Khalifa, Port Saeed, Al Marrar, Trade Centre 1, Qubaisi, Al Barsha 1, Naif, Al Garhoud and Al Karama.
In the legal form of newly issued licenses, the report shows that sole proprietorships topped the list with 38%, followed by limited liability companies with 28%, and civil companies with 24%. Legal forms also include: one-person limited liability companies, branches of companies located in other emirates; branches of foreign companies; branches of free zone companies; branches of Gulf Cooperation Council companies and general partnerships; publicly held companies; and private companies Stock company.
The report shows that 233,908 business registration and licensing transactions were completed in the first 10 months of 2021, an increase of 17% compared to the same period in 2020, when the total number of transactions reached 199,888. The total number of renewal transactions reached 120,120, an increase of 3% from the first 10 months of 2020 (117,030).
The number of preliminary approvals reached 1,703, an increase of 44% over the same period last year (1,184), while commercial licenses increased from 4,709 in the first 10 months of 2020 to 5,141 in October 2021, an increase of 9%.
Investors can obtain any trade license or start a business within a few minutes through “Invest in Dubai”. This is the first integrated digital business setup platform that simplifies the business journey. To start business immediately, please visit invest.dubai.ae or call 600 500 006.
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