The UAE continues to encourage the private sector to attract Nationals and develop their capabilities and skills to confidently lead the competitive knowledge economy.
The Business Registration and Licensing (BRL) sector at the Department of Economy and Tourism (DET) in Dubai reported that 32,564 Instant Licences were issued since the launch of the initiative in August 2017. Out of the total, 59 percent were Professional and 41 percent were Commercial licenses.
The Instant Licence service enables business owners to secure their licenses in one step within five minutes through invest.dubai.ae platform. Entrepreneurs can establish and conduct business in Dubai easily with the option to issue an electronic Memorandum of Association (MOA), and a virtual site for the first year only.
The service reduces human interaction through automated licensing procedures and easy access to a business license. It guarantees that entrepreneurs can start their business activity immediately after the license is secured, and then complete the remaining requirements of the commercial license, such as approvals from other relevant government entities.
Data shows that Bur Dubai accounted for the largest share with 27,200 licenses followed by Deira (5,363), and Hatta (1 license), while the top sub-regions since the launch of the initiative in August 2017 to date were: Al Fahidi, Burj Khalifa, Al Marrar, Port Saeed, Trade Centre 1, Dubai Investments Park 1, Al Karama, Al Mankhool, and Al Garhoud.
An Instant Licence can be obtained in four different legal forms – Limited Liability Company, One Person L.L.C, Sole Proprietorship, and Civil Company. Among the legal forms of the Instant Licences issued since the launch of the initiative in August 2017 to date, Civil Companies topped the list with 36 percent, followed by Limited Liability Companies with 27 percent, Sole Establishment with 23 percent, and One-Person Limited Liability Companies with 14 percent.
The licensee is also given membership in Dubai Chamber instantly, an establishment card of the General Directorate of Residency & Foreigners Affairs as well as three work permits for employees from the Ministry of Human Resources & Emiratisation once the trade license is issued.
The registration of “Native” workers in the Ministry of Human Resources & Emiratisation has been added while issuing the Instant Licence.
Investors can obtain any trade license or launch a business in a matter of minutes through ‘Invest in Dubai,’ the first integrated digital business set-up platform, which simplifies the business journey.
