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22 April 2024

DED issued 14,737 new licences during H1 2019

Pic: WAM

By Wam

The Business Registration and Licensing, BRL, sector in the Department of Economic Development, DED, Dubai, issued 14,737 new licences during the first half of 2019 as the emirate continued to enhance its appeal as a destination for sustainable business growth.

Among the new licences, 52 percent were Commercial (7,648), 45 percent Professional (6,722), two percent Tourism (262), and one percent was related to Industry (105).

The "Business Map" digital platform of DED, which seeks to reflect the economic ecosystem of Dubai by providing vital data on each licence category including their numbers and distribution on a monthly basis, saw 81 business licences being issued daily during the first half of the year.

During H1 2019, more businesses and investors took advantage of the emirate’s competitiveness and increasing opportunities across diverse economic sectors. The report showed that the number of Trade Name Reservations reached 22,456, while the number of Initial Approvals reached 17,798. Also, the number of Licence Modifications transactions reached 16,084.

The report showed that Licence Renewal transactions numbered 73,404 in H1 of 2019, including 34,250 (47 percent) transactions related to Auto Renewal via text messages, while BRL issued 1,149 instant licences, which were processed in a single step without the need for either the Memorandum of Association or an existing location during the first year.

Bur Dubai area accounted for the largest share (7,584) of the new licences issued during H1 2019 followed by Deira (7,135) and Hatta (18). The top sub-regions were: Burj Khalifa (1,747), Al Garhoud (1,284), Port Saeed (986), followed by Al Fahidi, Al Barsha 1, Dubai World Trade Centre 1, Al Marrar, Al Khubaisi, Naif and Oud Maitha.

Of the total number of licences issued during H1 2019, 7,392 were for Limited Liability Companies, 3,883 for Sole Proprietorship companies, and 2,686 for Civil Companies. The legal forms also included Branches of Foreign Companies, Branches of Companies based in other emirates, as well as Free Zone Branch, Government Commercial Liaison Office and Limited Partnership.

The Business Map showed that new business owners accounted for 88 percent of the licences issued during H1 2019. Women increased their share among new business owners to 12 percent underlining Dubai’s importance as an ideal launchpad for all entrepreneurs and investors. The top 10 nationalities that secured the new licences were Indians, Bangladeshis, Pakistanis, Egyptians, British, Saudis, Jordanians, Chinese, Filipinos and Sudanese.

The Business Map seeks to reflect the economic realities in Dubai by providing vital data on each licence category including their numbers and distribution as well as investor trends on a monthly basis.