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Abu Dhabi / WAM
The number of business licenses issued in the UAE by the end of August, increased to 532,000, a growth of 9 percent over the end of 2017, in yet a fresh sign that the business is moving and gaining speed across various economic platforms despite the global slowdown in different world countries.
According to the Ministry of Economy’s statistics, Abu Dhabi and Dubai accounted for around 85% of the licenses issued by the end of August, namely 453,000.
Dubai came first with 249,000 licenses, comprising 46.8 percent of the total licenses issued by other departments of economic development across the country.
In terms of legal status, limited liability companies come first in terms of the number of licensed firms, 170,066 companies, followed by individual companies, 72,807, then foreign companies, 2,141, single-member limited liability company, 1,869, Gulf companies, 894, with the rest of licenses distributed among other stock, and private companies.
In Abu Dhabi, 77,406 licenses were issued, including 25,460 for limited liability firms, 17,942 for company branches and the rest for single-member limited liability companies as well as stock and private and other types of firms.