Mohammed bin Rashid launches decree for digitization company formation in Dubai
His Highness Sheikh Mohammed bin Rashid Al Maktoum, as Ruler of the Emirate of Dubai, has enacted Decree No. 13 of 2024, introducing a unified digital platform for establishing companies in Dubai.
This initiative aims to foster a supportive investment environment conducive to economic growth in the emirate by streamlining the licensing process. The decree ensures the collaboration of various authorities overseeing company establishment, including the Department of Economy and Tourism, special development zones, free zones like the Dubai International Financial Center, and other relevant agencies. Through the development of a unified digital platform, investors will experience enhanced convenience in accessing information, obtaining licenses, and conducting economic activities seamlessly.
The decree applies to all economic activities in Dubai and seeks to regulate the issuance of licenses, permits, and approvals with clear and simplified rules. It addresses potential obstacles faced by investors during the establishment of companies or while conducting economic activities in the emirate. Furthermore, it emphasizes the importance of electronic connectivity and coordination between licensing and competent authorities to support Dubai's digital transformation, avoid duplication, and provide value-added services exceeding investor expectations.
The edict is in line with Sheikh Mohammed bin Rashid Al Maktoum's aim to establish Dubai as a global center of the digital economy, which is in line with Dubai Economic Agenda D33. To further ease the investor's trip to Dubai, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, in his capacity as Chairman of the Executive Council, adopted Resolution No. 5 of 2024. This resolution requires the implementation of guidelines designed to streamline the licensing, permitting, and approval procedures associated with business operations inside the emirate.
The resolution obligates relevant authorities to facilitate investors' experiences by adopting measures such as completing transactions through the "Invest in Dubai" digital platform, immediate licensing, and ease of fee payment. Furthermore, it emphasizes the importance of unifying and updating procedures to enhance the investor journey.
Decree No. 13 of 2024 further specifies how applications for licenses, permits, and approvals should be submitted using the "Invest in Dubai" digital portal. This digital platform will be operated, managed, and developed under the direction of the Department of Economy and Tourism in Dubai, in collaboration with relevant authorities. The agency will also draft a guide that will outline the steps, prerequisites, specifications, and deadlines for different applications pertaining to economic activity in Dubai while taking the decree's goals and current laws into account.
Overall, the decree and accompanying resolution aim to streamline processes, enhance digital connectivity, and promote Dubai as a leading global destination for investment and business growth.
