2017 became the year of many innovations in the UAE and gave a lot of opportunities for developing business there as for people of the UAE so for people from different countries.
In 2017, the Dubai Business Registration and Licensing Agency (BRL) registered 288,878 transactions and 8,877 new companies. Business activity of the emirate can be observed on a special digital map.
This map shows the economic situation in the emirate, providing important data for each category of issued business licenses with the registration numbers. Thus, this map allows to judge how the investment trends have changed in each month.
Also in 2017, 128965 licenses were renewed. Companies in the emirate received 26029 approvals of source documents, 38223 commercial names were registered, 47125 transport licenses were updated, 684 fast licenses and 616 licenses for electronic commerce were issued.
In 2017, 24123 operations were also registered, related to obtaining a permit for commercial activities, 35.1% of which were related to banner advertising, which indicates the high competition of enterprises in the promotion of their goods and services.
As for new enterprises registered in 2017, they can be divided into the following sectors in the following proportions: 64.3% in the advertising sector, 33.8% in the professional sector, 1.1% in the industry, 0.9% % – in the sphere of tourism.
“We regularly receive requests to open companies and organize business in Dubai from clients from different countries, and we think that this trend will continue in 2018,” said Andrey Panferov, Senior Consultant at Davidson & Co. Law Firm.
Despite the introduction of VAT, the UAE continues to be an attractive business direction, due to the absence of profit taxes, the diversity of economic zones and proposed corporate structures.