Dubai records strong growth in new business registration

The emirate issued more than 72,000 licences last year

Dubai skyline. AP Photo / Kamran Jebreili

Dubai issued 72,152 new business licences in 2021, compared to 42,729 licenses in the previous year, according to data released by the business registration and licensing sector at the Department of Economy and Tourism.

The data, which was reported by the Wam state news agency, identified new business formation by geographical location and category.

Bur Dubai accounted for 48,562 of new licences issued in the emirate, followed by 23,513 businesses in Deira and 77 enterprises in Hatta. The majority of new businesses - around 6 in 10 - were classed as 'professional', while 41 per cent were recorded as 'commercial' entities.

Sole establishment companies accounted for 37 per cent of new licences, 26 per cent were limited liability companies and 13 per cent were civil companies.

The DET reported that 15,196 'instant licences' were issued in 2021,more than 420 per cent more than in 2020, when 2,884 licences were issued. Instant licences are issued on the invest.dubai.ae platform and seek to enhance commercial competitiveness in the emirate.