With flexible regulations, business licenses have been issued more frequently in Dubai, the business hub. According to the statistics, the number of new business licenses issued in 2021 is 69% more than what it was in 2020, which means there are incredible opportunities for you in various sectors, all of which contribute to the overall improvement of the economy.
By 2022, Dubai will issue 42,729 business licenses and have issued 72,125 new licenses in 2023. This provides global exposure as well as the opportunity to invest in a wide range of industries and business sectors.
Out of the new business licenses issued, 59 percent were for professionals and 41 percent for commercial enterprises. As a result of the new license, different industries will be able to grow considerably, contributing to the recovery of the UAE. We provide one-stop business setup services in UAE, including accounting, tax, immigration, licensing, and more, allowing you to start your business immediately. Few days is all it takes for them to set up your business. We have a team of professionals on board who do the heavy lifting for you.
In tough times like the COVID-19 pandemic, the rise in licenses illustrates the UAE's economic strength and the potential that lies in each of its industries. A number of UAE government policies have been altered to increase the growth of the economy and lower the cost of starting a business, contributing to Dubai's diversified economy and increasing its income.
There were 430,921 new businesses registered and licenses issued in 2021 where 347,496 transactions were completed in 2020. This growth proves that gaining business licensing will produce positive results for the economy.
UAE is the business hub, and startups and investors can grow without paying corporate taxes due to the increase in new business licenses. Businesses will be able to expand internationally by acquiring space on the mainland to set up shop in the growing digital economy.
With 48,562 new business licenses, Bur Dubai is the largest. Deira and Hatta hold 23,513 and 77 licenses, respectively, while top regions like Burj Khalifa, Al Barsha 1, Al Quoz 3, Al Karama, and Al Barsha have fewer licenses.
A virtual commercial license has also been launched by Dubai. Dubai will now be able to grant a virtual license without a residence visa. It is Dh850 for one year's virtual business license, which includes Dh200 startup fees for sole proprietorships and Dh650 licensing fees.
Startup zone Business Setup Services can help you complete all the legalities in no time to start your business operations in Dubai, and the Instant License can be obtained within 5 minutes from the website. As part of the Department of Economy and Tourism, foreign investors are able to invest in UAE-based businesses and eliminate competition to drive UAE economic growth.