More companies setting up shop in Dubai

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As many as 15,475 new business licences were issued by Dubai Economy during the first quarter of 2021.

That's a 19 per cent growth compared to the same period in 2020 when 13,027 licences were issued.

The figures highlight the resilience of Dubai's business environment as well as the emirate’s economic competitiveness and ability to attract new firms.

Fifty-eight per cent of the new permits were for professional activities (8,935), followed by 41 per cent for commercial (6,290), and the rest for tourism and industrial activities.

Bur Dubai accounted for the largest share (8,220) of the licences, followed by Deira (7,236), and Hatta (19).

The top sub-regions were: Al Fahidi, Burj Khalifa, Al Khabaisi, Port Saeed, Trade Centre 1, Al Marar, Al Barsha 1, Naif, and Riggat Al Buteen.

During the first quarter of 20201, 99,887 business registration and licensing transactions were completed, a growth of 8 per cent compared to Q1 2020.

License renewal accounted for 38,090 transactions during Q1 2021, which is a 4 per cent growth.

It underlines the benefits from the economic stimulus package launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, which allows renewal of commercial licences without a lease contract.

Meanwhile, the 'Invest in Dubai' digital business set-up platform simplifies the journey without the need to visit service centres.

It provides initial approval, reservation of a trade name, issuance of licences, in addition to electronic Memorandum of Association, and the renewal of commercial licences.

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