Dubai Economy records 83% growth in DED trader licences
SOURCE: Gulf Business
The Department of Economic Development (DED) trader licences, that enables startups in the emirate of Dubai to conduct business activities online and across social networking mediums, has seen an 83 percent increase in issuances from January to June-end this year.
The trader licenses were launched by the Business Registration and Licensing (BRL) sector, news agency WAM reported.
The total number of licences issued in H1 this year totalled 1,947, compared to 1,064 issued during the corresponding period in the previous year. The number of DED trader licences issued in June reached 577, an increase of 163 per cent compared to 219 in June 2019.
Dubai Economy focuses on lending support to DED trader licence holders by signing partnerships with government and private sectors to facilitate their business as well as open new channels for increased cooperation.
While the total number of DED trader activities is 382, and the DED trader licence groups tally 82, the number of permitted activities in a single licence is ten, provided that they are consistent within the same group category.
“Lifestyle Coaching” led the list of activities issued since the launch until the end of June 2020 followed by “Marketing Services Via Social Media”; “Portal”; “Social Media Applications Development and Management”; “Perfumes and Cosmetics Trading”; “Marketing Management”; “Project Management Services”; “Web-Design”; “Ladies Wears Tailoring and Embroidery”; and “Readymade Garments Trading”.
“Information Technology” group, which includes 17 activities, topped the list of activity groups followed by “Fashion” (33 activities); “Other Personal and Trading Services” (13); “Ladies tailoring and design” (3), “Preparation of Food” (7); “Commercial brokerage” (2); “Event organisers” (8); “Handicraft workshops” (13); “Electronics group” (17); and “Exhibition organisers” (5).
The licensee cannot open a shop/store but can avail of three visas if the ownership is 100 per cent Emirati and legal liability falls under the licence holder.
DED trader licence holders can avail of a Dubai Chamber membership for commercial activities, bank facilities; a Customs Client Code which facilitates import and export via dubaitrade.ae; temporary employment services; participation in exhibitions and conferences and training workshop; displaying of products in consumer points of sale and providing workspace.
In March, Dubai unveiled a stimulus package worth Dhs1.5bn to support businesses in the emirate to help counter the impact of the coronavirus outbreak.
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