Department of Economic Development says Indian business people hold the largest number of instant licences issued so far
Nearly 2,000 instant licences have been issued in Dubai since they were launched last year to cut the time it takes to register a business in the emirate.
The Business Registration and Licensing (BRL) sector in the Department of Economic Development (DED) reported that 1,882 instant licences were issued by the end of 2018.
A total of 1,641 were commercial (87 percent), and 241 were issued in the professional (13 percent) category.
The instant licence enables business people to obtain their commercial licences in one step within five minutes without having a company's lease or location for the first year only. They only have to present these documents for renewal.
The initiative aims to reduce the time required for business registration procedures and licence issuance by 90 percent.
The BRL said Indian business people hold the largest number of instant licences issued so far followed by nationals from Egypt, Pakistan, Saudi Arabia, China, Britain, Sudan, Jordan, Bangladesh and Canada.
"The Instant Licence service is in line with BRL's vital role in promoting the sustainable economic development and competitiveness of Dubai through targeted initiatives and the application of best practices in areas such as ease of starting business, company registration, smart services, and providing value-added services to licence owners, and thereby creating a world-class business environment," said Abdulaziz Bin Hathboor, director of customer relation division, BRL sector.