Dubai sees 25% growth in new commercial licenses in the first half of 2022 – News

The increase is attributed to safety, security and the ease of doing business in the emirate



By a staff reporter

Published: Tue, Jul 19, 2022, 5:07 PM

Dubai issued 45,653 new business licenses in the first half (H1) of 2022, compared to the first half of 2021 when 36,647 licenses were issued, showing a growth of 25%. These figures show that the emirate has accelerated the pace of its sustainable economic growth and diversification, thanks to sound government policies and programs.

His Excellency Helal Saeed Al Marri, Director General of Dubai’s Department of Economy and Tourism, said: “The latest figures released by the Business Registration and Licensing (BRL) Sector of the Department of Economy and Tourism (DET) in Dubai highlight the success of the measures taken to ensure business continuity and offer the option of full ownership to foreign investors, two important steps that support the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, to attract foreign direct investment (FDI) in vital sectors.

Al Marri also spoke about the ease of doing business in Dubai, highlighting the “high levels of safety and security”.

“The new data also reflects Dubai’s dynamic entrepreneurial landscape,” he said, before mentioning the emirate’s “globally competitive offerings for business” and the confidence investors around the world have in its prospects. of growth.

According to BRL industry data, 55% of new business licenses issued in the first half of 2022 were professional and 45% were commercial.

In terms of areas in Dubai, Bur Dubai held the largest share (31,604) of new licenses issued. Next come Deira with 14,022 licenses and Hatta (27). The main sub-regions were: Al Fahidi, Burj Khalifa, Al Marrar, Port Saeed, Dubai Investment Park 1, Naif, Al Quoz 3, Trade Center 1, Al Barsha 1 and Jebel Ali Industrial 1.

Among the legal forms, single establishment companies came first with 30%, followed by civil companies with 25% and limited liability companies with 22%.

A total of 261,958 enterprise registration and licensing deals were completed in the first half of 2022, representing a growth of 33% compared to the first half of 2021, when the total number of deals was 197 052. The number of renewal transactions during the first half of 2022 reached 92,948, representing a growth of 22% compared to the first half of 2021, during which 75,950 transactions were recorded.

The number of initial approvals reached 39,303, a growth of 54% compared to the first half of 2021 (25,491), while trade name reservations reached 41,731, a growth of 32% compared to the first half of 2021 (31,693). Commercial permits reached 5,805 in H1 2022.

The BRL sector reported that 14,654 instant licenses were issued in the first half of 2022. The instant license is issued in five minutes on the invest.dubai.ae platform, with the possibility of issuing an electronic MOA and a virtual site for first year only.

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