UAE’s largest city Dubai stands proudly among the list of the highest cities that provide state of the art infrastructure to its residents.
The IID platform offers commercial licensing services through which more than 15 government permits and approvals can be obtained without having to visit a service centre. IID also allows investors to access information regarding the requirements, conditions and fees for issuing trade licences in Dubai for more than 2,000 commercial activities.
ID also licensed 485 activities, including project management services, technical works and maintenance, electronic complexes, social media marketing services, engraving and decoration, installation of suspended ceilings and light partitions, perfumes and cosmetics and tailoring.
IID will include additional services in a second phase rollout later this year. This will include new services for commercial licences, the opening of bank accounts through a wider set of banks and the opening of traffic files for vehicles.
“The platform enables investors to gain insights into investment opportunities for key sectors; information on investment opportunities in commercial zones or free zones, competitiveness assessments, locations of businesses in the city, key economic sectors; and cost of incubating businesses; in addition to sector reports and statistics on foreign direct investment (FDI),” said Younus Al Nasser, Assistant Director General of the Smart Dubai Department and CEO of the Dubai Data Establishment.
Referring to the latest data, since the launch of the IID platform in the beginning of February, the total number of business registration and licensing transactions on the platform has reached 5,747.
"A total of 3,464 commercial licenses were issued, while 1,448 trade names were reserved. The number of initial approvals provided through the platform was 830 while 275 approvals were issued for starting a business", Al Qamzi said.
"The platform enables foreign investors the possibility to gain insights into investment opportunities for key sectors; information on investment opportunities in commercial zones or free zones, competitiveness assessments, locations of businesses in the city, key economic sectors; and cost of incubating businesses; in addition to sector reports and statistics on foreign direct investment (FDI)," said Al Nasser.
To set up your business in Dubai, you have to consider some elements required in the process, before you start your legal formalities. Dubai is one of the dream destinations for people who wish to set up a new business.
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