Friday, October 22, 2021

68% growth in new Dubai business licences

iStock [For illustration]

As many as 6,928 new business licences were issued in Dubai in September, which is a 68 per cent growth compared to the same period in 2020.

According to Dubai Economy’s latest report, 56 per cent of new licences issued in September 2021 were professional, 43 per cent were commercial and the rest were distributed among the industrial and tourism categories.

The Bur Dubai area (4,658) accounted for the largest share of the permits, followed by Deira (2,264), and Hatta (6), while the top sub-regions were: Al Fahidi, Burj Khalifa, Port Saeed, Al Marrar, Dubai Investment Park 1, Naif, Al Muraqqabat, Al Karama, Trade Centre 1, and Al Garhoud.

Sole establishment firms topped the list with 36 per cent, followed by Limited Liability companies (25.5%) and civil companies (22%).

The figures reflect Dubai’s ability to maintain its robust economic growth, high levels of ease of doing business, and enhanced business competitiveness.

Investors can obtain a trade licence or launch a business in a matter of minutes through the ‘Invest in Dubai’ digital platform.

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