Dubai issues almost 15,000 new business licences in first half of year
"Women increased their share among new business owners to 12 per cent," according to the Department of Economic Development
The Department of Economic Development's Business Registration and Licensing (BRL) section issued 14,737 new licences during the first half of 2019.
Of the licences issued, 52 per cent were commercial, 45 per cent professional, 2 per cent tourism-related and 1 per cent related to industry, the DED said.
The "Business Map" digital platform of DED, designed to illustrate the economic ecosystem of Dubai by providing data on each licence category including the number issued and distribution of licences on a monthly basis, saw 81 business licences being issued daily during the first half of the year.
The Business Map showed that new business owners accounted for 88 per cent of the licences issued during the first half.
"Women increased their share among new business owners to 12 per cent, underlining Dubai’s importance as an ideal launchpad for all entrepreneurs and investors," the DED said. The top 10 nationalities that secured the new licences were Indians, Bangladeshis, Pakistanis, Egyptians, British, Saudis, Jordanians, Chinese, Filipinos and Sudanese.
The DED said Bur Dubai area accounted for the largest share at 7,584 of the new licences issued in the first hald followed by Deira (7,135). The top sub-regions were: Burj Khalifa (1,747); Al Garhoud (1,284); Port Saeed (986); followed by Al Fahidi; Al Barsha 1; Dubai World Trade Centre 1; Al Marrar; Al Khubaisi; Naif and Oud Maitha.
During the first six months of 2019, the DED said the number of Trade Name Reservations reached 22,456, while 17,798 Initial Approvals and 16,084 Licence Modifcations were granted.
The DED said that it recorded 73,404 transactions for Licence Renewal in the first half of 2019, including 34,250 related to Auto Renewal via text message, while BRL issued 1,149 instant licences, which are processed in a single step without the need for either a memorandum of association or an existing location for the first year.
Of the total number of licences issued during the first six months, 7,392 were for Limited Liability Companies, 3,883 for Sole Proprietorship companies, and 2,686 for Civil Companies, the DED said.
Updated: August 17, 2019 03:23 PM