There were 45,653 new business licences issued in Dubai during the first half of 2022, showing a 25 percent hike compared to the same period in 2021, during which 36,647 licenses were issued. The announcement was made on Tuesday by Helal Saeed Al Marri, Director General of Dubai’s Department of Economy and Tourism.
The latest numbers, shared by the business registration and licensing sector at the Department of Economy and Tourism (DET) in Dubai, are the result of the continued efforts of the government and policy amendments, which have garnered various investments, globally and locally, a statement from Dubai Media Office read.
With sustainable economic growth being the key reason for the licence increase, the data reflects Dubai’s “dynamic entrepreneurial landscape,” the statement said, which is backed by high security and safety, ease of doing business and a transparent investment environment.
“The latest figures released by the business registration and licensing sector at the Department of Economy and Tourism (DET) in Dubai underline the success of measures taken to ensure business continuity and provide the option of full ownership to foreign investors, both significant steps that support the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to attract foreign direct investment into vital sectors,” Al Marri said.
The data showed 55 percent of new business licences issued during H1 of 2022 were for professional businesses whereas 45 percent were commercial.
Additionally, among new business licences issued, sole establishment companies topped the list with 30 percent, followed by civil companies at 25 percent, with limited liability companies following at 22 percent.
Dubai has recently made it easier for entrepreneurs to start a business, with investors now able to obtain a licence and launch a business within minutes through the Invest in Dubai portal. The emirate has made small business growth in particular a tenet of its long-term post-pandemic growth strategy.
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