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Sat 12 Oct 2019 06:43 PM

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UAE business permits total over 572,600 as investors move in

A total of 32,256 business licences were issued in the UAE between January and August

UAE business permits total over 572,600 as investors move in
Dubai was ranked first, issuing 268,574 business licences followed by 135,918 in Abu Dhabi.

A total of 32,256 business licences were issued in the UAE over the first eight months of the year, signalling growing investor confidence in the country.

The increase brought to 572,615 the total number of business permits in the country, a growth of 6 percent from 540,359 at the end of December, state news agency WAM reported.

Abu Dhabi and Dubai accounted for 70.6 percent of the total number of business licences issued across the country by the end of August (404,492), according to the Ministry of Economy's National Economic Register.

Dubai was ranked first, issuing 268,574 business licences followed by 135,918 in Abu Dhabi.

In terms of status, a total of 181,989 licences were issued for limited liability companies in Dubai while 78,491 were registered for individual establishments and 3,935 for single-member limited liability companies.

A total of 2,140 were issued for foreign companies, 848 for Gulf firms, with the rest of licences divided between public joint stock companies, private joint stock companies and partnership en commendam companies.

In Abu Dhabi, a total of 86,837 licences were issued for individual establishments, 27,590 for limited liability companies, 17,779 for company branches while the rest was divided between corporations, private companies and single-member companies as well as public joint stock companies.

In Sharjah, a total of 82,825 licences were issued by the end of August, 53,458 of which were for individual firms and 23,582 licenses for limited liability companies, with the rest divided over other types of firms.

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