Dubai Economy issues 15,475 new licenses during Q1 2021, a growth of 19% over Q1 2020

The number of business registration and licensing transactions reached 99,887

  
Dubai Economy issues 15,475 new licenses during Q1 2021, a growth of 19% over Q1 2020

Licence renewal transactions increased by 4% and auto renewal transactions by 16%

Dubai: The Business Registration & Licensing (BRL) sector of Dubai Economy reports that 15,475 new licenses have been issued during the first quarter of 2021, a growth of 19% compared to Q1 2020, when 13,027 licences were issued. This highlights the resilience of the business environment of Dubai and the emirate’s economic competitiveness and ability to attract businesses to across various sectors.

Of the new licenses issued in Q1 2021, 58% were professional (8,935), followed by 41% commercial activities (6,290), and the rest distributed among the tourism and industrial activities.

In terms of distribution of the new licenses according to location, Bur Dubai accounts for the largest share (8,220), followed by Deira (7,236), and Hatta (19). The top sub-regions were: Al Fahidi, Burj Khalifa, Al Khabaisi, Port Saeed, Trade Centre 1, Al Marar, Al Barsha 1, Naif, and Riggat Al Buteen.

During the first quarter of the year, 99,887 business registration and licensing transactions were completed, a growth of 8% compared to 92,325 in Q1 2020, demonstrating the vital role of Dubai Economy in delivering value-added services to the public in Dubai.

License Renewal accounted for 38,090 transactions during Q1 2021, a 4% growth compared to Q1 2020 (8436,4). This underlines the benefits from the economic stimulus package launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, which allows renewal of commercial licenses without lease contract.

Auto Renewal via text messages during Q1 2021 accounted for 20,923, 16% growth compared to Q1 2020 (18,061). The number of Trade Name Reservation was 17,397, Initial Approvals reached 13,914, and the total number of Commercial Permits was 3,077.

Dubai Economy highlighted the importance of collaborative work by the government and private sectors. The private sector supports economic development by launching competitive and value-added projects under the wise leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

You 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 without the need to visit service centres. The platform provides initial approval, reservation of a trade name, issuance of instant licences, Dubai SME licences, Intelaq licences, DED Trader licences, in addition to electronic Memorandum of Association, and the renewal of commercial licences. To start a business today, visit invest.dubai.ae or call us on 600 500 006.

-Ends-

About Dubai Economy

Dubai Economy (Department of Economic Development – Government of Dubai) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. Dubai Economy supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth. Dubai Economy and its agencies develop economic plans and policies, identify and support the growth of strategic sectors, and provide services to domestic and international investors and businesses.

For further information, please contact: Nafisa Elmarzouky, nafisa.elmarzouky@dubaided.gov.a e Faisal Shamsudheen, MediaRelations@dubaided.gov.ae 

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