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

DUBAI – Dubai issued 45,653 new business licenses in the first half (H1) of 2022, registering a growth of 25% compared to the same period last year.

The figures reaffirm the success of the government’s innovative new strategic approaches and policy changes that have revitalized the economy and spurred a strong flow of local and foreign investment, enabling the emirate to accelerate the pace of its growth and its sustainable economic diversification.

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 measures that support the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to attract foreign direct investment in vital sectors.

“These measures have also enhanced Dubai‘s transparent and growth-friendly investment environment, characterized by exceptional ease of doing business and high levels of security and safety. The new data also reflects Dubai’s dynamic entrepreneurial landscape. Dubai, its globally competitive offerings for business and the confidence that local, regional and global investors have in its growth prospects.”

According to BRL industry data, 55% of new business licenses issued in the first half of 2022 were professional and 45% were commercial. Bur Dubai accounted for the largest share with 31,604 new licenses issued, followed by Deira with 14,022 licenses and Hatta (27), while 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.

A total of 261,958 enterprise registration and licensing transactions were completed in the first half of 2022, a growth of 33% compared to the first half of 2021, when the total number of transactions reached 197,052. In addition, 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 permits in the first half of 2022.

The BRL sector reported that 14,654 instant licenses were issued in the first half of 2022. Through the instant license, which is issued in five minutes on the platform, with the possibility of issuing an electronic MOA and a A virtual site for the first year only, the DET aims to boost Dubai’s sustainable economic development and competitiveness.

About Tammy N. McFarlane

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