Dubai has issued over 10,700 new instant licenses in the first 10 months of 2021, UAE state news agency WAM reported.
Instant licenses, issued by the emirate’s Department of Economy and Tourism, are issued to businesspeople so they can establish and operate a business in Dubai after obtaining a license in a one-step, five-minute process through Invest in Dubai.
The department issued 10,707 new licenses, 63 percent of which were professional and 37 percent were commercial.
“Through the Instant Licence, the Department of Economy and Tourism aims to drive the sustainable economic development and competitiveness of Dubai. The Department supports the structural transformation of the city into a diversified, innovative service-based economy with an enhanced business environment as well as accelerate productivity growth,” WAM reported.
Bur Dubai accounted for the largest share with 9,451 licences followed by Deira (1,256), while the top sub-regions during the first 10 months of 2021 were: Al Fahidi, Burj Khalifa, Al Marrar, Al Karama, Al Mankhool, Trade Centre 1, Naif, Port Saeed, Al Nahda 1 and Al Muraqqabat.
Invest in Dubai provides a comprehensive platform to support investors and entrepreneurs in setting up a business in Dubai. It also offers a range of packages to facilitate the launch of commercial projects including allocating labour quotas and obtaining a membership in the Dubai Chamber of Commerce and Industry.
The program also allows investors to access information regarding the requirements, conditions and fees for issuing trade licences in Dubai for more than 2,000 commercial activities. They can also immediately obtain licences for their companies, as well as other commercial licences.
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