This article examines the rules and regulations regarding Dubai Decree No. 13/2024 on Creating a Unified Digital Window for Establishing Companies in the Emirate of Dubai. Further, the Executive council has endorsed the principles for streamlining the investor’s journey catering to their needs in choosing the suitable sectors for their projects through a unified digital platform INVEST IN DUBAI.
Dubai has introduced a radical overhaul of the establishment of companies. It has developed a unified platform that integrates various licensing processes including those managed by the Department of Economy and Tourism and authorities of special development zones and freezones including the Dubai International Financial Centre (DIFC).
How has the INVEST IN DUBAI platform changed with the enactment of the new Dubai Decree?
- The Invest in Dubai platform offers a streamlined business setup process and utilizes cutting-edge smart solutions.
- The platform centralizes various services, simplifying the entire business setup process from commercial licensing to government permits and approvals.
- Enable the investors to quickly obtain the licenses online, eliminating the need for in-person visits to service centers to operating businesses in Dubai.
How will the Department of Economy and Tourism manage the “Invest in Dubai” digital platform?
- Providing a unified license for all companies across various jurisdictions, accommodating different types of businesses and priorities.
- The Licensing Authority and the Competent Authority will electronically connect to provide necessary procedures and measures offering a streamlined channel to facilitate obtaining the licenses and accessing the other services. This initiative aims to attract and reassure investors by implementing the following principles.
- Renewing licenses and paying fees in a single step without linking renewal to other procedures or requirements, all conducted through the digital window.
- Regulate the process of obtaining licences, permits, approvals and all other applications related to the practicing of the Economic Activity through the Digital Platform.
- Issuing licenses promptly through the digital window along with related procedures and requirements.
- Add, amend, cancel or merge Economic Activities in the Digital Platform, in coordination with the licensing authorities and the competent authorities.
How does the Law apply to all economic activities in Dubai?
Each licensing authority is committed to developing its own regulatory framework as the Department of Economy and Tourism is primarily responsible for the regulation of companies under the Federal Decree-Law No. 32/2021, while Free Zones and DIFC regulate entities operating within their jurisdictions. Designated special development zones, regulated by multiple authorities, offer special, and support to businesses in specific industries.
Concerning establishing the companies and their related activities, the Investor will be required to apply for the issuance of the license and all other applications related to the issuance of licenses and approvals after choosing the jurisdiction to practice the Economic Activity via the digital platform “Invest in Dubai”.
Dubai Unified License enhances efficiency and reduces the time required to help investors establish and manage their operations. This streamlined process bolsters Dubai’s transformative initiatives led by all governmental bodies by simplifying procedures and ensuring easy access to business-related information.
We, Alsuwaidi & Company, help our clients in selecting, advising suitable options according to the requirements of the clients in setting up businesses in different jurisdictions in UAE by understanding their needs, challenges, and aspirations with the alignment of their own goals in the chosen jurisdiction by providing legal expertise on local regulations, drafting necessary documents such as incorporation papers, and guidance through the process of obtaining permits and licenses required to operate in that particular jurisdiction.
Additionally, we provide strategic advisory services tailored to streamline your company’s restructuring efforts, aiming to capitalize on opportunities while minimizing risks. Our comprehensive approach includes meticulous due diligence to identify and mitigate potential liabilities. We specialize in implementing robust compliance procedures to ensure your business operations align with regulatory requirements for sustained success. Moreover, our expertise extends to navigating tax implications and bridging cultural and business differences in your chosen destination, facilitating a seamless transition and long-term growth.
If you have any questions about this or any other query related to doing business in the UAE, please get in touch with the author Mamdouh Tawfik directly on [email protected].
Mamdouh Tawfik is a Legal Researcher at Alsuwaidi & Company. He is part of our corporate team, and he has extensive experience in the legal field. His diverse corporate experience encompasses mergers and acquisitions, joint ventures, restructurings, corporate governance, employment, dispute resolution, and working closely with several governmental entities and major companies.
