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Tue 13 Aug 2019 09:24 AM

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Nearly 700 Chinese investors secure Dubai business licences in H1

Department of Economic Development reveals 35% of licences issued to Chinese investors were to females in first half of 2019

Nearly 700 Chinese investors secure Dubai business licences in H1

Dubai has issued 362 business licences to 696 Chinese investors in the first six months of this year, according to a report by the Business Registration & Licensing (BRL) division at Department of Economic Development (DED).

Fifty eight percent (210) of licences were issued for commercial activities, 41% (149) for professional activities and the remaining three for industrial activities.

Female Chinese investors made up 35% (241) while male investors made up 65% (455).

Of the total licences issued, the majority (225) are for limited liability companies, 113 for sole proprietorship companies, 15 for civil companies and several for foreign companies or those based in other emirates and free zones.

The Burj Khalifa and Downtown Dubai area accounted for the largest share of Chinese licences issued during the first half of 2019, followed by Al Fahidi, Riggat Al Buteen, Port Saeed, Naif, Al Rigga, Al Nahda 1, Al Barsha 1, Al Bada and Al Khabaisi.

Business activities ranged from textiles to clothing and from cosmetics to non-precious metals, while professional activities included health clubs, restaurants, electronic games, watch repairs and IT infrastructure.

Industrial activities included the production of dry grain foods and the processing of herbal plants among others.

Last month, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohamed bin Zayed ended his visit to China as the two countries vowed to strengthen a ‘comprehensive strategic partnership’ going forward.

During the visit, Sheikh Mohamed met with Chinese President Xi Jinping, with whom he discussed a number of regional and international issues of common interest.

The visit of Sheikh Mohamed and his delegation saw the signing of a rash of MoUs in in diverse areas including the economy, trade, investment, technology, artificial intelligence, culture and education, as well as on protecting the environment and achieving food security.

In other news, the DED has recently launched the DED Café, an outsourced service centre in Palm Strip Jumeirah which boasts fully digitised business registration and licensing services while integrating innovating customer service.

It provides 24/7 access to BRL services which can be completed over a cup of coffee where customers can earn loyalty points for their time spend in the café. They can also use the drive through service or complete transactions within minutes on the DED Café app.