19% surge in new license issuance in Dubai

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This highlights the resilience of the business environment of Dubai and the emirate’s economic competitiveness and ability to attract businesses to across various sectors…reports Asian Lite News

The Business Registration and Licencing (BRL) sector of Dubai Economy has issued 15,475 new licences during the first quarter of 2021, a growth of 19 percent compared to Q1 2020, when 13,027 licences were issued.

This highlights the resilience of the business environment of Dubai and the emirate’s economic competitiveness and ability to attract businesses to across various sectors.

Of the new licenses issued in Q1 2021, 58 percent were professional (8,935), followed by 41 percent commercial activities (6,290), and the rest distributed among the tourism and industrial activities.

In terms of distribution of the new licences according to location, Bur Dubai accounts for the largest share (8,220), followed by Deira (7,236), and Hatta (19). The top sub-regions were: Al Fahidi, Burj Khalifa, Al Khabaisi, Port Saeed, Trade Centre 1, Al Marar, Al Barsha 1, Naif, and Riggat Al Buteen.

During the first quarter of the year, 99,887 business registration and licencing transactions were completed, a growth of 8 percent compared to 92,325 in Q1 2020, demonstrating the vital role of Dubai Economy in delivering value-added services to the public in Dubai.

License Renewal accounted for 38,090 transactions during Q1 2021, a 4 percent growth compared to Q1 2020 (36,484). This underlines the benefits from the economic stimulus package launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, which allows renewal of commercial licences without lease contract.

Auto Renewal via text messages during Q1 2021 accounted for 20,923, 16 percent growth compared to Q1 2020 (18,061). The number of Trade Name Reservation was 17,397, Initial Approvals reached 13,914, and the total number of Commercial Permits was 3,077.

Dubai Economy highlighted the importance of collaborative work by the government and private sectors. The private sector supports economic development by launching competitive and value-added projects under the wise leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

‘Invest in Dubai,’ the first integrated digital business set-up platform, simplifies the business journey without the need to visit service centres. The platform provides initial approval, reservation of a trade name, issuance of instant licences, Dubai SME licences, Intelaq licences, DED Trader licences, in addition to electronic Memorandum of Association, and the renewal of commercial licences.

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