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As a significant step towards enhancing the economic growth and investors’ satisfaction in the Emirate of Dubai (the “Emirate”), His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, Vice President and Prime Minister of the UAE, issued Dubai Decree No. 13 of 2024 on the Unified Digital Platform for Establishing Companies in Dubai (the “Decree”). The Decree establishes the Unified Digital Platform (the “Platform”), named “Invest in Dubai”.
The Platform caters to companies in the Emirate and free zones in the Emirate, including the Dubai International Financial Centre (DIFC), and is aligned with the regulations of the respective licensing authorities in these free zones. It is designed to simplify the process for applying, issuing, renewing, cancelling, and amending licenses, permits and approvals by enabling investors to establish their company through this platform. Further, the Platform will be electronically connected to the e-systems that are in force at the licensing authorities in the Emirate.
The Platform aims at creating an investment environment that supports the economic growth and enhances investors’ experience in the Emirate by developing a single channel to streamline the process of issuing and renewing licenses and permits, address the obstacles that investors face, improve coordination among licensing bodies in the Emirate, and provide value-added services that meet and exceed the expectations of investors during their journey of exploring economic activities in the Emirate.
Dubai’s Department of Economy and Tourism (DET) is responsible for developing, operating and managing the Platform, in collaboration with relevant licensing bodies in the Emirate. DET will also be developing an e-guide, outlining the procedures, requirements, timelines, and fees to apply for, issuing and cancelling licenses of practicing economic activity in the Emirate. The guide shall comply with the Emirate’s laws as well as the principles of the investor’s journey outlined in the Executive Council Resolution No. 5 of 2024 on Principles of Facilitating the Investor’s Journey in the Emirate of Dubai.
Furthermore, the Decree requires all governmental bodies in the Emirate to cooperate with DET and facilitate the investor journey. This involves providing DET with accurate data and statistics, unifying procedures and requirements among digital platforms that provide licensing services, and meeting any other requirements determined by DET to achieve the objectives of this Decree.
Effective from 15th March 2024, this Decree marks a significant milestone in the Emirate’s continued commitment towards fostering a dynamic and investor-friendly business environment.