Dubai Economy Issues 20,491 E-Moas and 9,336 E-MOA Addendums In 2019Source: www.export-egypt.com 1/19/2020, Location: Middle East |
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The Business Registration and Licencing, BRL, sector at the Dubai Economy issued 20,491 electronic Memorandums of Association, MOAs, including 1,529 e-MOAs approved via text messages from 6969, and 9,336 e-MOA addendums in 2019, relaying Dubai's strategic focus on enhancing the ease of doing business and attracting businesses looking for opportunities to expand and grow sustainably.
This is in line with President His Highness Sheikh Khalifa bin Zayed Al Nahyan's Federal Decree-Law No. 7 of 2018 amending articles within Federal Law No. 02 of 2015 on Commercial Companies. The BRL report indicated that 83 percent of the MOAs and 55 percent of the MOA addendums issued by Dubai Economy are now electronic and, together, account for 60 percent of the licences that require MOAs. The e-MOAs issued in 2019 varied according to the activity, as 13,067 were professional, 7,052 were commercial, 294 were related to tourism and 78 were industrial. As for the e-MOA addendums, 7,176 were commercial, 1,831 were professional, 168 industrial and 161 were related to tourism. Business owners in Dubai can receive the e-MOAs and all its addendums from Dubai Economy and its service centres or through the approval text message from 6969. The BRL report noted that e-MOAs granted for a Limited Liability Company, L.L.C., topped the list with 9,108 licences, followed by Civil Company (8,008), Sole Establishment (2,936) and, finally, Limited Liability Company - Single Owner (439). L.L.Cs topped the list of legal forms to which the e-MOA addendums were issued with 8,335 licences, followed by Sole Establishment (424), Limited Liability Company - Single Owner (395) and Civil Company (182). The BRL sector has published a manual that provides comprehensive information on the creation of an e-MOA and its addendums. The manual will help customers ensure the timely processing of their applications and a speedy response to their inquiries, as part of Dubai Economy’s efforts to adopt the best practices, improve the quality of services, embody the country’s vision to spread happiness and positivity across all UAE institutions and business sectors, as well as to achieve the highest levels of excellence, in terms of government performance. |
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