The business hub Dubai with flexible regulations has issued more business licenses. There is 69% more growth seen in the issue of new business licenses in 2021 as compared to 2020 which reflects some of the impeccable opportunities coming your way in different sectors that also contribute towards the betterment of the economy.
Dubai has issued 72,125 new business licenses in 2021 while in 2020 42,729 licenses are issued providing global exposure and the opportunity to invest in various industries and business sectors to grow exponentially.
The new business licenses issued were 59 percent were professional and 41 percent were commercial. The new business license will contribute towards the recovery of the UAE also open new doors for various industries to grow. FlyingColour Business Setup Services in UAE is the one-stop destination to start your business journey as they handle accounting, tax, immigration services, licensing, and the list goes on. They have a team of professionals on board who ease the process and set up your business in just one month.
The growth in the number of licenses shows the economy’s strength and opportunities coming in each industry that will benefit the UAE’s economy during tough times like the COVID-19 pandemic. The UAE government has made some alterations in economic policies to maximize the growth and low cost of commencing business bringing more income from across the globe and contributing to Dubai’s diversified economy.
The new registered business and license issued were 430,921 in 2021 where 347,496 transactions took place in 2020. The growth showcases how new business licensing will procure positive outcomes in the economy.
The marked increase in new business license issues shows UAE is the business hub and how investors and startups can grow without paying any sort of corporate tax. This will provide businesses to expand internationally in the growing digital economy by acquiring space in the mainland for business setup.
Bur Dubai has the largest new business license of 48,562 shares, Deira and Hatta have 23,513 and 77 where top regions like 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 have the lowest number of license than Bur Dubai.
Dubai also announced the launch of the virtual commercial license. For the first time, the virtual license will be granted without a residence visa in Dubai. The virtual business license costs Dh850 for one year which is inclusive of Dh200 startup fees for sole proprietorship and Dh650 fees for the license.
The Instant License can be issued from the website within five minutes and FlyingColour Business Setup Services helps you in completing all the legalities in no time to begin the business operations in Dubai. The Department of Economy and Tourism is focused on driving sustainable economic development where foreign investors can invest in building sustainable businesses, eliminate the competition and contribute towards the development of the UAE.