The centralised portal offers services such as commercial licensing in which government permits and approvals can be obtained without the need to physically visit any service centre
Sheikh Mohammed launches ‘Invest in Dubai’ platform to ease process of establishing businesses
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched a ‘Invest in Dubai’ platform on Tuesday which will enable investors to obtain trade licences and launch their business in only a few minutes.
The centralised portal offers users services such as commercial licensing in which government permits and approvals can be obtained without the need to physically visit any service centre.
It also offers packages and value-added services that support businesses in launching commercial projects.
Investors can search for business ideas and gain insights into investment opportunities (or projections for key sectors); and information on investment opportunities in commercial zones (or freezones), 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, reported Dubai Media Office.
The Invest in Dubai platform will cover the entire business cycle, including registering trade names, getting initial approvals to issue a licence, ensuring adherence to all government requirements, and obtaining trade licences.
In order to assist launching commercial projects, it it will facilitate the opening a ticket for a new establishment as required by the Federal Authority for Identity and Citizenship, allocating labour quotas, opening a ticket at the Ministry of Human Resources and Emiratisation, notarising the establishment contract by the Department of Economic Development, notarising a rental contract by the Real Estate Registration Department, and obtaining a membership in the Dubai Chamber of Commerce and Industry.
Investors can access information regarding the requirements, conditions and fees for issuing trade licenses in Dubai for more than 2,000 commercial activities.
They can also immediately obtain licences for their companies, as well as other commercial licences. Within the platform itself, these investors can manage their business using a personalised dashboard that provides an overview of partners, licences, KPIs, and other useful insights.
Invest in Dubai was developed by Smart Dubai and the Dubai Department of Economic Development (DED), under the supervision of the General Secretariat of The Executive Council of Dubai.
A team of more than 70 members, representing more than 20 local and federal government entities, coordinated with the private sector, over a period of four months to develop the platform.
Local and federal entities that contributed to the project include the Ministry of Human Resources and Emiratisation, Ministry of Economy, Dubai Free Zones Council, Security Apparatus Department, Dubai Police; Directorate General of Dubai Civil Defense; Dubai Civil Aviation Authority, Dubai Customs, Dubai Municipality, Dubai Land Department, Community Development Authority; Security Industry Regulatory Agency; Dubai Health Authority; Roads and Transport Authority, Dubai Sports Council, Department of Tourism and Commerce Marketing, Department of Islamic Affairs and Charitable Activities; Dubai Courts, Knowledge and Human Development Authority and General Directorate of Residency and Foreigners Affairs.
The Dubai Department of Economic Development will administer the platform, which can be accessed on invest.dubai.ae.
“Dubai offers businesses and investors an attractive environment with all the elements needed to achieve success and gain the agility needed to transform challenges into opportunities. Despite the prevailing global situation, Dubai has demonstrated the strength of its digital infrastructure and leveraged advanced technologies to develop economic solutions for helping investors and entrepreneurs accomplish their goals,” said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of The Executive Council of Dubai.
In January, Sheikh Hamdan announced a fresh Dhs315m economic stimulus package to support businesses within the emirate. The fifth economic stimulus package announced in recent months, it raises the total value of business incentives introduced by the emirate’s government since the start of the pandemic to Dhs7.1bn.