Dubai: As many as 32,564 instant licences have been issued in Dubai since the launch of the programme in August 2017, it was announced on Wednesday.
According to the Business Registration and Licensing (BRL) sector at the Department of Economy and Tourism (DET) in Dubai, 59 per cent licences were professional and 41 per cent were commercial.
The instant licence service enables business owners to secure their licences in one step within five minutes through the invest.dubai.ae platform. Entrepreneurs can establish and conduct business in Dubai easily with the option to issue an electronic Memorandum of Association (MOA), and a virtual site for the first year only.
According to the report, Bur Dubai accounted for the largest share with 27,200 licences followed by Deira (5,363), and Hatta (one licence), while the top sub-regions since the launch of the initiative were Al Fahidi, Burj Khalifa, Al Marrar, Port Saeed, Trade Centre 1, Dubai Investments Park 1, Al Karama, Al Mankhool, and Al Garhoud.
An instant licence can be obtained in four different legal forms - Limited Liability Company, One Person L.L.C, Sole Proprietorship and Civil Company. Among the legal forms of the instant licences issued since the launch of the initiative in August 2017 to date, Civil Companies topped the list with 36 per cent, followed by Limited Liability companies with 27 per cent, Sole Establishment with 23 per cent, and One-Person Limited Liability Companies with 14 per cent.