Dubai: Nearly 11,000 instant licences were issued in Dubai during the first 10 months of the year.
According to data from the Business Registration and Licensing (BRL) sector at the Department of Economy and Tourism in Dubai, of the 10,707 Instant Licences issued 63 per cent were professional and 37 per cent were commercial.
The Instant Licence service allows businessmen to establish and conduct business in Dubai with the option to issue an electronic Memorandum of Association (MOA), and a virtual site for the first year only. The service enables business owners to obtain their licences in one step within five minutes through the invest.dubai.ae platform.
According to the report, 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.
An Instant Licence includes four legal forms - Limited Liability Company, One Person L.L.C, Sole Proprietorship and Civil Company. Among the legal forms of the Instant Licences issued during the first 10 months of 2021, the report showed that civil companies topped the list with 38 per cent, followed by sole establishment with 25 per cent, limited liability companies with 23 per cent and one-person limited liability companies with 14 per cent.
