Dubai sees surge in new businesses

Dubai issued 72,152 new business licences in 2021, a growth of 69 per cent compared to 2020.

The figures reaffirm the emirate's position as a leading investment hub and reinforces its status as a successful model for the recovery of the business sector.

The latest data released by the Business Registration and Licensing (BRL) sector at the Department of Economy and Tourism (DET) underlines the quantum leap Dubai has made in creating an environment that can accelerate growth and success, attract expertise and investments, and provide an incubator for all types of economic activities.

Fifty-nine per cent of new business licences issued in 2021 were professional and 41 per cent were commercial.

Bur Dubai accounted for the largest share (48,562) of new licences, followed by Deira (23,513), and Hatta (77), while the top sub-regions were: Al Fahidi, Burj Khalifa, Al Marrar, Port Saeed, Trade Centre 1, Naif, Dubai Investment Park 1, Al Barsha 1, Al Quoz 3, and Al Karama.

Among the legal forms of the new licences issued, Sole Establishment companies topped the list with 37%, followed by Limited Liability companies with 26% and Civil Companies with 13%.

The legal forms also included: One-Person Limited Liability Companies, Branches of companies based in other emirates; Branches of Foreign Companies; Branches of Free Zone Companies; Branches of GCC Companies, General Partnership Companies; Public Shareholding Companies; and Private Joint-Stock Companies.

A total of 430,921 business registration and licensing transactions were completed in 2021, a growth of 24 per cent compared to 2020, when total transactions reached 347,496.

Investors can obtain any trade licence or launch a business in a matter of minutes through ‘Invest in Dubai,’ an integrated digital business set-up platform.