DET announces Dubai Unified Licence; aiming for a streamlined approach to various business processes

In an effort to achieve a more efficient approach to different business procedures, Dubai's Department of Economy and Tourism (DET) has announced the creation of the "Dubai Unified Licence" (DUL), a unique commercial identity granted to all enterprises in Dubai.

The DUL programme offers a uniform digital registration to newly founded and established firms in Dubai that operate under a mainland or free zone licence. The register was established in partnership with the Dubai Free Zones Council and serves as a trustworthy single source of digital information by uniting all business premises in Dubai and its Free Zones into a single platform for data management, collection, and exchange.

By standardising and streamlining Dubai's business procedures in line with international best practices, the effort hopes to guarantee that the most recent corporate records, including data and licencing details, are continuously kept up to date inside the registration.

The "Dubai Unified Licence" improves efficiency and shortens the time needed for firms to set up and run their activities in Dubai by streamlining setup and operational procedures. This expedited procedure helps to increase Dubai's appeal as a business-friendly travel destination. This efficiency also reinforces Dubai's appeal as a favoured global business hub by drawing in foreign investors and entrepreneurs looking for a hassle-free business environment.

The single digital platform also guarantees improved accessibility to business-related information and more openness, which strengthens Dubai's appeal as a reliable and vibrant investment location. As a result, these characteristics work together to fortify Dubai's standing on the international economic scene and are entirely consistent with its goal of becoming acknowledged as one of the top three business and investment destinations in the world.

Establishments will go through extensive validation, verification, and screening as part of the project before being assigned a unique digital identity by the relevant authorities. DET has already granted over 50,000 licences, with plans to issue more shortly, which cover all registered businesses in Dubai's mainland and Free Zones.

DET and the Dubai Free Zones Council have worked closely together to guarantee the DUL initiative's smooth execution. This collaboration was essential to bringing all the many facets of the project together and guaranteeing a thorough approach to business facilitation in Dubai.

The DUL makes it easier for the public, service providers, and government agencies to obtain firm information. Companies are granted a licence number that is unique to the mainland or free zone government where they were incorporated, encouraging accountability, efficiency, and transparency. Instantaneous data exchange between government agencies, the commercial sector, and service providers is made possible by the DUL, which has a digital repository and consent capacity. In addition, the DUL safeguards the integrity of the UAE economy and the international financial system by strengthening the compliance framework specified in the national AML/CFT policy.

A number of significant features and advantages are offered to customers by the "Dubai Unified Licence." It streamlines company verification procedures in a variety of interactions by giving users access to validated DUL data stored in a digital repository. A streamlined and consolidated procedure makes it easier to issue No Objection Certificates (NOCs) and licences for economic activity. In addition, the DUL provides consolidated and validated data about current companies, which is helpful to potential owners looking for information about companies that are currently in operation in the emirate. In the future, the DUL hopes to make it easier and more efficient for banks to create accounts for businesses located in Dubai.