Dubai issues nearly 1,900 new business licences in October
Department of Economic Development says number of business licences issued in October rises 25% on same month in 2017
Dubai's Department of Economic Development (DED) issued 1,898 new licences during October, an increase of 25.8 percent compared to September, as Dubai remained a destination of choice for investment in business sectors.
Among the new licences issued, 62.1 percent were commercial, 35.5 percent professional, 1.4 percent related to industrial and 1 percent tourism, according to the DED's Business Registration and Licensing (BRL) sector.
The report showed that the top nationalities who secured licences in October were from India, followed by Pakistan, Egypt, Britain, Bangladesh, Jordan, Saudi Arabia, China, Sudan and the Philippines.
The Business Map digital platform of DED, showed 27,265 business registration and licensing transactions being completed last month, an increase of 23.3 percent compared to September.
The Business Map also showed that licence renewal accounted for 12,989 transactions during October, while 5,758 transactions were related to auto renewal via text messages.
BRL also issued 126 instant licences - issued in a single step without the need for either the MOA? (?memorandum of association?) ?or an existing location for the first year only - an increase of 34 percent compared to the previous month.
The report highlighted the distribution of the new licences during October with Bur Dubai accounting for the largest share (972), followed by Deira (918), and Hatta (8).
Trade and repair services accounted for 32 percent of the new licences, followed by real estate, leasing & business services (26 percent), and building & construction (16 percent).
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