Last Updated on: 15th March 2024, 10:19 pm
Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE has issued a decree introducing the Unified Digital Platform for establishing new companies and enhancing the business environment to boost the emirate’s economic growth. The decrees aim to integrate the licensing processes across Dubai, including those managed by different authorities and free zones.
Dubai Introduces Digital Platform for Easy Company Formation
Dubai Issues Decree on Unified Digital Platform for Establishment of Companies The platform aims to significantly enhance the investor experience by providing a streamlined channel for obtaining licenses and accessing economic activity-related services. It regulates the issuance of licenses, permits, and approvals to ensure clarity and simplicity for investors.
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The decree also aims to promote electronic integration among licensing departments to avoid duplication and support Dubai’s digital transformation goals. Complementing this decree, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, as the Crown Prince of Dubai, approved principles to facilitate the investor journey. These principles apply to all processes related to business activities in Dubai. They mandate licensing entities to ensure a smooth investor journey and implement necessary procedures.
Various measures have been outlined to provide a seamless experience for investors, including registration on the ‘Invest in Dubai’ digital platform, unified data registration, instant licensing and renewal, streamlined fee payment, and standardization of procedures. The Department of Economy and Tourism is tasked with operating and managing the ‘Invest in Dubai’ platform in collaboration with licensing bodies, adhering to digital transformation guidelines.
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Requests related to licensing and permits should be processed through the ‘Invest in Dubai’ platform as per the procedures outlined in the ‘Guide,’ an electronic document developed by the Department of Economy and Tourism. The Chairman of The Executive Council of Dubai will issue necessary decisions to implement the decree, which supersedes any contradictory legislation. This decree comes into effect upon its publication in the Official Gazette, aiming to bolster Dubai’s business landscape and attract more investment.
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