Dubai is going to issue Instant Trade Licences

The Dubai Department of Economic Development (DED) is planning to issue instant trade licences to investors under a new ‘120 days hassle free license’ initiative that will be launched this year. The move, which will allow investors to have their licenses issued immediately, will drastically simplify the investment and business registration process, depending on the risk factors of the intended business activity. The 120-day license allows businessmen to start businesses immediately and complete the rest of the licensing requirements, such as approvals from other government authorities concerned, within the subsequent 120 days. Government authorities are entitled to ensure full compliance by the license holder to the license criteria on day 121. Business activities have been categorized as no-risk, low-risk and high-risk for the sake of evaluating the risk component. More than 90 per cent of the businesses in the emirate are no-risk or low-risk and therefore a vast majority of businesses stand to benefit from the 120-day license. For high-risk business activities constituting the remaining 10 per cent, such as restaurants and clinics, all standards set by the government authorities concerned must be fully met before DED issues the license. The low-risk category includes chemical plants and similar industrial operations that require pre-approvals from various authorities including the Dubai Municipality and Civil De fence.

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