Dubai Department of Economic Development issued 550 immediate licenses during the first quarter of 2020.
According to the Emirates News Agency, the process of issuing the instant license takes only 5 minutes with the option to issue an electronic founding contract, and a virtual site for the first year only.
The immediate licenses issued during this period were distributed according to the activity, led by commercial activities at 73%, and professional at 27%.
A report issued by the sector indicated that those who have an immediate license, which covers more than 1,400 economic activities, during the first quarter of this year, numbering 1,746, the percentage of businessmen of whom constitute about 88%, and the nationalities of those who obtained the immediate license varied during the quarter. First of 2020 to include businessmen from Britain, South Africa, Saudi Arabia, Egypt, Jordan, India, Pakistan, China, Sudan and the Philippines.
The immediate license initiative contributes to reducing human interaction by automating the procedures for licensing, in addition to the ease of obtaining the commercial license. The initiative guarantees that businessmen are allowed to start practicing the commercial activity immediately after the license is issued, and then complete the remaining requirements of the commercial license, such as approvals from other relevant government agencies .
The legal forms of an instant license include four types: a limited liability company, a one-person company, an individual institution, and a civil business company.
Entrepreneurs can, through the immediate license, obtain a general commercial license via the Internet, including general trade activity, in addition to all activities that do not require external approvals, and are permitted for both citizens and residents. The fees for the instant license issuance markets, especially the general trade activity for which the license was issued through electronic services only, were modified from 3,000 dirhams to 250 dirhams only, and in the event of renewing the license.
The instant license provides the option to issue an electronic incorporation contract, obtain the license, the company’s commercial registry, and Dubai Chamber membership through the same procedure, immediately. The license also enables the establishment of a General Administration of Residence and Foreign Affairs facility card in an instant, in addition to the Ministry of Human Resources and Resettlement facility facility card where the customer receives a text message after the license is issued with the approval of three employee permits.
The feature of registering citizen employees in the Ministry of Human Resources and Emiratisation was added when issuing the immediate license.
