DED issues 509 Instant Licences, a growth of 45.4% compared to Q1 2018
The Business Registration and Licensing, BRL, sector of the Department of Economic Development, DED, in Dubai, showed that 509 Instant Licences were issued during Q1 of 2019, as compared to 350 issued same period last year, registering a growth of 45.4 percent.
The Instant Licence initiative service enables businesses to secure their commercial licence in one-step within five minutes without having a company’s lease or location for the first year only. The service reduces the time required for business registration procedures and licence issuance by 90 percent.
"The Instant Licence service is in line with BRL’s vital role in promoting the sustainable economic development and competitiveness of Dubai through targeted initiatives and the application of best practices in areas such as ease of starting business, company registration, smart services, and providing value-added services to licence owners, and thereby creating a world-class business environment," said Omar Al Meheiri, Director of Development and Follow-up Division in BRL.
Al Meheiri added DED focuses on continuously developing the business environment to remain competitive in line with the world-class infrastructure in the emirate. "We are guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, for Dubai to be the preferred place to live, work and visit as well as a smart and sustainable city and a pivotal hub of the global economy by 2021."
All business activities can benefit from the service, except public and private shareholding companies, through the various outsourced service centres in Dubai, and the Happiness and Smart Lounges 24x7. Holders of general trade licences can only use electronic services.
All business partners or one of them must be present while applying through the outsourced service centres or the happiness lounges and must provide a valid passport copy to all parties (partner and manager), residence visa copy and non-objection letter from the sponsor to the foreign parties.
The Instant licence also offers the option of an electronic contract, in addition to obtaining the licence and entry in DED’s commercial registry. Furthermore, the licensee is given membership in the Dubai Chamber instantly as well as establishment cards of the Ministry of Human Resources & Emiratisation and the General Directorate of Residency & Foreigners Affairs.
An Instant Licence includes four legal forms; Limited Liability Company, One Person L.L.C, Sole Proprietorship and Civil Company.
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