Saturday, July 24, 2021

Business Bay Has 17,893 Operating Companies To Date, Says Dubai Economy

A report by the Business Registration & Licensing (BRL) sector of Dubai Economy shows that the number of operating businesses in the Business Bay has reached 17,893 to date. Of these, 69 per cent are Commercial (12,352), followed by Professional (29 per cent, 5,137 licenses) and the rest related to Tourism and Industry. The report presents the volume of commercial activities in the Business Bay, providing the business community an overview of the opportunities available in the area

The total number of investors in the Business Bay reached more than 52,000, and the percentage of businessmen reached 84% of the total. General Trade on the other hand topped the list of licensed activities operating in this vital area

In terms of legal forms of the active licences in the Business Bay, Limited Liability Company (LLC) ranked first at 58 per cent, followed by Sole Establishment (23 per cent), and Civil Company (9 per cent). The legal forms also include One-Person Limited Liability Companies, Branches of Foreign Companies, Branches of Companies based in other Emirates, Branches of Free Zone Companies, Branches of GCC Companies, Public Shareholding Companies, Government Liaison Offices, General Partnership, Limited Partnership, and Private Joint-Stock Companies.

The Business Bay is part of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, as it forms a new quasi-city within the city of Dubai. It was built to be a private, commercial and residential complex as well as a new extension of the Dubai Creek from Ras Al Khor to Sheikh Zayed Road.

The Business Bay is one of the modern residential and commercial centers of Dubai, located in the sparkling waters of the Dubai Canal, opposite the Downtown Dubai district. It is the ideal destination for businessmen, offering a range of residential and commercial properties, upscale amenities, and a fast-paced and contemporary lifestyle.

Dubai Economy’s strategy focuses on enhancing ease of doing business as well as driving the overall competitiveness and sustainable growth of Dubai. The BRL sector offers several initiatives such as ease of start-up procedures, business registration, adoption of new e-services, and value-added services for licensed business owners. 

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.

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