New Licences issued from Dubai’s DED in 2020 | Push Digits Chartered Accountants

New Licences issued from Dubai’s DED in 2020

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New Licences issued from Dubai’s DED in 2020

An astonishing number of 42,640 licenses have been issued in 2020. This is a decent growth of 4% from last year, during which 40,891 licenses were issued.

Out of these 42,640 new company registrations in Dubai, nearly 64% were professional licenses and 35% were commercial. The remaining were within other sectors like industry and tourism.

Out of all the large regions, Bur Dubai proved to have the largest part in the newly registered licenses, after which Deira came in with the second-largest share. Hatta came in third with 71 licenses being registered.

The sub-regions that were observed to be at the top were: Burj Khalifa, Al Garhoud, Al Fahidi, Al Khabaisi, Trade Centre One, Port Saeed, Oud Metha, Oud Al Muteena three, and Hor Al Anz East.

Furthermore, the total amount of business registrations and licensing transactions was recorded to be 346,375 in 2020. Compared to the amount last year an increase of 3% was observed.

Besides the newly registered licenses, renewal of old ones was observed to account for a total of 162,762 of the transactions made in 2020. This number shows an increase of 15% from last year’s license renewals.

Furthermore, renewals done through the text message service was reported to be 92,576 from the transactions made in 2020. A large growth of 36.5% was observed. And finally, the amount of Trade Name Reservations amounted to 51,170 with Initial Approvals amounting to 40,932 and Commercial Permits being 10,680. Similarly, a lot of companies also opted for trademark registrations due to a reduction in trademark registration fee in 2020.

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