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New Law Issued for Creating Digital Platform for Company Registration in Dubai

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Staff Writer, TLR

Published on March 14, 2024, 08:49:39

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sheikh mohammed, company registeration, new law, Dubai, digital platform

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued Decree No. (13) of 2024 concerning the establishment of a Unified Digital Platform for company registration in Dubai.

The decree is part of Dubai's ongoing efforts to bolster its business environment and foster economic development.

The platform aims to consolidate various licensing procedures in Dubai, including those overseen by the Department of Economy and Tourism, as well as authorities managing special development zones and free zones such as the Dubai International Financial Centre (DIFC), among others.

The integration is geared towards substantially enhancing the experience of investors in Dubai by providing a streamlined avenue for accessing information, obtaining licenses, and accessing other services pertinent to economic activities.

Applicable to all economic endeavours in Dubai, the decree also aims to standardize the issuance of licenses, permits, and approvals in the emirate to promote clarity and simplicity. Furthermore, it seeks to assist investors in overcoming challenges encountered during the establishment or operation of businesses in Dubai.

The decree underscores the importance of electronic integration between licensing departments and other relevant entities to eliminate procedural redundancies and support Dubai's digital transformation objectives in alignment with the goals outlined in the Dubai Economic Agenda D33, aimed at positioning the city as a hub for the digital economy.

In a complementary move, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of The Executive Council of Dubai, has issued Resolution No. (5) of 2024 of the Council, endorsing the fundamental principles aimed at facilitating investors' journeys in Dubai.

These principles are applicable across all processes related to licensing, permits, and approvals for business activities in Dubai, effective concurrently with the implementation of the new decree.

According to the resolution, all licensing entities and federal and local regulatory bodies overseeing business activities in Dubai are tasked with ensuring a seamless journey for investors and implementing the necessary procedures to facilitate this objective.

Furthermore, the resolution outlines various measures to enhance the investor experience, including registration on the 'Invest in Dubai' digital platform, unified digital data registration, expedited licensing and renewal processes, simplified fee payment procedures, streamlined licensing requirements, and the standardisation of procedures, regulations and conditions.

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