Dubai remains a successful model for business sector recovery
Dubai issued 72,152 new business licences in 2021, a 69% increase over 2020, when 42,729 licences were issued, confirming Dubai’s position as a global business and investment hub and reinforcing its status as a successful business sector recovery model. The latest figures released by the Department of Economy and Tourism’s (DET) Business Registration and Licensing Branch (BRL) highlight the qualitative leap Dubai has made in creating a business environment capable of accelerating growth and success, attracting professionals and investment, and becoming an incubator for all economic activities.
The marked increase in the number of licences issued also reflects the emirate’s position as a leading hub for start-ups, the positive business climate it has created for Dubai-based regional and international companies to expand their businesses and create new investment opportunities in the growing digital economy.
According to official figures, 59% of new business licences issued in 2021 were professional and 41% were commercial. Bur Dubai accounted for the largest share (48,562) of new licences issued, followed by Deira (23,513) and Hatta (77), with the largest sub-regions being: Al Fahidi, Burj Khalifa, Al Marrar, Port Said, Mall 1, Naif, Dubai Investment Park 1, Al Barsha 1, Al Kuoz 3 and Al Karama.
Among the legal forms of incorporation of the new licences issued, sole proprietorship companies topped the list with 37%, followed by limited liability companies with 26% and civil companies with 13%. The legal forms also included: single-person limited liability companies, branches of companies located in other emirates, branches of foreign companies, branches of free zone companies, branches of Gulf companies, general partnerships, public limited companies and private limited companies.
In 2021, 430,921 business registration and licensing transactions were completed, 24% more than in 2020, when the total number of transactions reached 347,496. The number of initial approvals reached 60,293, an increase of 47% compared to 2020 (40,982) and the number of trade name reservations reached 72,772, an increase of 42% compared to 2020 (51,252). Commercial permits increased by 15% from 10,687 in 2020 to 12,284 in 2021.
The BRL sector reported that 15,196 instant licences were issued in 2021, an increase of 427% over 2020, when 2,884 licences were issued. With the instant licence, which is issued within five minutes on the invest.dubai.ae platform with the option of an electronic MOA and a virtual website for the first year only, the Department of Economy and Tourism aims to drive sustainable economic development and competitiveness in Dubai.
Investors can obtain any trade licence or start a business in minutes through Invest in Dubai, the first integrated digital business creation platform that simplifies the business process. To start a business today, visit invest.dubai.ae or call 600 500 006.
#Dubai issues 72,152 new business licences in 2021, a growth of 69 % compared to 2020 when 42,729 licenses were issued.https://t.co/flMZAen8xD pic.twitter.com/pMczT0J1i4— Dubai Media Office (@DXBMediaOffice) January 18, 2022
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