Dubai issues over 2,000 new licences in January, up 20%

The Department of Economic Development (DED) in Dubai has announced that it issued 2,046 new licences during January, a growth of 20 percent compared to 1,703 in the year-earlier period.

Among the new licences issued, 64.5 percent were commercial, 33.7 percent professional, 1.2 percent related to tourism and 0.6 percent industry, according to DED's Business Registration and Licensing (BRL) sector.

The Business Map digital platform of DED showed 25,115 business registration and licensing transactions being completed during the month, a growth of 6.6 percent compared to January 2018.

The report also showed that licence renewal accounted for 12,190 transactions during January, a growth of 8.9 percent while 5,263 transactions were related to auto renewal via text messages.

During the month of January, the number of trade name reservation was 3,320, a growth of 8.1 percent, while the number of initial approvals reached 2,459, a growth of 17.8 percent and the number of commercial permits reached 1,341.

BRL also issued 163 instant licenses which is issued in a single step without the need for either the memorandum of association ?or an existing location for the first year only.

The report also showed that the top nationalities who secured licences in January were Indians, followed by Pakistanis, Egyptians, Bangladeshis, Chinese, Saudis and Brits.

Trade and repair services accounted for 34.2 percent of the new licences issued in January followed by real estate, leasing and business services (25.6 percent), building and construction (16 percent).

Last month, the Department of Economic Development (DED) in Dubai said it issued 20,467 new licences during 2018 as the emirate continued to enhance its appeal as a destination for sustainable business growth.

Overall, 248,769 business registration and licensing transactions were recorded in the Business Map digital platform of DED last year, an increase of 4.6 percent.