Dubai new business licences is growing

The Dubai Department of Economic Development, DED, issued 2,459 new business licenses in March, a massive increase of 35.4 percent over March 2018 (1,816).

According to the DED, the impressive growth in the number of new businesses has created 9,661 new jobs.

Data from the DED showed that commercial enterprises accounted for 58% of new licenses, followed by ‘professionals’ with 39.3% of the total; tourism with 1.9%; and industry with 0.8%.

In terms of nationalities obtaining new business licenses, India ranked first, followed by Pakistan, Bangladesh, Egypt, China, Jordan, Philippines, Saudi Arabia, Lebanon, Canada and France to Invest in Hotel Apartments in Dubai.

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A total of 27,531 business registration and licensing transactions were finalized in March, representing an overall increase of 4.9% over the same period last year (26,257).

License renewals accounted for 13,112 transactions (+ 3.5%) compared to March 2018 (12,671) to invest in Affordable Housing Projects in Dubai.

The number of business name bookings, which generally precede the launch of a new business, increased by 11.4% year-on-year to 3,656 in March, the initial approvals reached 2,921 and the number of Business licenses reached 1,677.

The BRL also issued 190 instant licenses, while the DED dealer licenses increased from 179 in March 2018 to 226 in March 2019, up 26.3% in Luxury Properties for Sale in Dubai.

Overall results continued their positive trend in early 2019. In February, more than 2,200 new business licenses were issued to new companies, representing a 37% increase in registrations compared to February 2018.

Among the main industries to benefit from the influx of new businesses are the city’s real estate and Invest in Hotel Rooms in Dubai.

The building, hotel and construction sectors revealed the DED last month.

Following the registration of new businesses, more than 8,500 new vacancies were identified in February.

In addition, the DED revealed that it handled 25,269 licensing and licensing transactions in February, an increase of 27% over the number processed in February 2018.