Dubai issues 45,653 new business licenses in H1 2022
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Dubai issues 45,653 new business licenses in H1 2022

Dubai issues 45,653 new business licenses in H1 2022

Around 55 per cent of the new business licenses issued in Dubai during H1 2022 were professional and 45 per cent were commercial

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Dubai Business licenses in H1 2022

According to the latest figures published by the Business Registration and Licensing (BRL) department at the Department of Economy and Tourism (DET), Dubai issued 45,653 new business licences in the first half of 2022, registering a growth of 25 per cent compared to the same period in 2021 when 36,647 licenses were issued.

The numbers reflect the positive impact of the government’s new strategic approaches and policy amendments to accelerate the pace of its sustainable economic growth and diversification.

Helal Saeed Al Marri, director general of Dubai’s Department of Economy and Tourism, said the latest figures 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 HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to attract foreign direct investment (FDI) into vital sectors”.

“The new data also reflects Dubai’s dynamic entrepreneurial landscape, its globally competitive offerings for businesses and the confidence that local, regional and global investors have in its growth prospects,” he added.

Professional and commercial licenses issued
According to the BRL sector data, 55 per cent of the new business licenses issued during H1 2022 were professional and 45 per cent were commercial. Bur Dubai accounted for the largest share with 31,604 of the new licences issued, followed by Deira with 14,022 licenses, and Hatta (27), while the top sub-regions were: Al Fahidi, Burj Khalifa, Al Marrar, Port Saeed, Dubai Investment Park 1, Naif, Al Quoz 3, Trade Centre 1, Al Barsha 1 and Jebel Ali Industrial 1.

Among the legal forms of the new licenses issued during H1 of 2022, ‘sole establishment’ companies topped the list (with 30 per cent), followed by civil companies with 25 per cent, and limited liability companies with 22 per cent.

business registration and licensing transactions
A total of 261,958 business registration and licensing transactions were completed in H1 2022, a growth of 33 per cent compared to H1 2021, when total transactions reached 197,052. Additionally, the number of renewal transactions during the first half of 2022 reached 92,948, a growth of 22 per cent compared to the first half of 2021, in which 75,950 transactions were recorded.

The number of initial approvals reached 39,303, a growth of 54 per cent compared to H1 2021 (25,491), while trade name reservations reached 41,731, a growth of 32 per cent compared to H1 2021 (31,693). Commercial permits reached 5,805 in H1 2022.

The BRL sector reported that 14,654 instant licenses were issued during the first half of 2022.

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