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58% growth in business licenses in Q1-2022

Dubai issues 24,662 new business licenses, compared to 15,580 in Q1-2021

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Dubai’s Department of Economy and Tourism (DET) issued 24,662 new business licenses in the first three months of 2022, a growth of 58% from 15,580 licenses issued in Q1-2021.

The growth underlines the robust fundamentals, resilience, and sustainability of Dubai’s economy, led by a progressive vision and a strong ability to withstand challenges and maintain a healthy growth rate. The substantial rise in new business licenses also highlights the confidence of investors and businesses in Dubai’s growth potential across various sectors.

According to a report, 57% of the new business licenses issued during Q1-2022 were professional and 43% were commercial. Bur Dubai accounted for the largest share (16,577), followed by Deira (8,066), and Hatta (19).

Among the legal forms of the new licenses issued, Sole Establishment companies topped the list with 33%, followed by Civil Companies with 26%, and Limited Liability Companies with 19%. The legal forms also include One-Person Limited Liability Companies, Branches of Companies based in other emirates, Branches of Foreign Companies, Branches of Free Zone Companies, Branches of GCC Companies, and Public Shareholding Companies.

A total of 136,034 business registration and licensing transactions were completed during Q1-2022, a growth of 36% compared to Q1-2021, when total transactions reached 99,741. The number of Initial Approvals reached 19,835, a growth of 43% compared to the same period in the previous year (13,914), while Trade Name Reservations reached 22,112, a growth of 29% compared to Q1-2021’s 17,133.