Post by : Bianca
Haleem
In a groundbreaking move to streamline business processes, Dubai has introduced the Dubai Unified Licence (DUL), minimizing the duration for setting up a business bank account from 65 days to merely five.
Initiated in 2023 by the Dubai Business Registration and Licensing Corporation (DBLC), part of the Dubai Department of Economy and Tourism (DET), the DUL offers a comprehensive, government-verified digital identity for businesses operating in both mainland and free zones. The Service Providers Project, rolled out in 2024, further enriches this initiative, allowing companies to effortlessly access banking, utilities, trade, and labour services through a unified platform.
Since the introduction of the Service Providers Project in October 2024, over 3,000 new business bank accounts have been established, with more than 134,000 updates to business banking profiles. The framework includes major banking institutions such as Emirates Islamic Bank, Mashreq Bank, Commercial Bank of Dubai (CBD), First Abu Dhabi Bank (FAB), Emirates NBD, Emirates Development Bank (EDB), and Ruya Bank.
In addition to banking improvements, DUL is forming collaborations with essential government and service organizations including the Ministry of Human Resources and Emiratisation (MoHRE), Dubai Electricity & Water Authority (DEWA), Dubai Trade, Roads & Transport Authority (RTA), Ministry of Foreign Affairs (MOFA), and Arab Financial Services (AFS).
This initiative ensures accurate business information is securely housed within a digital registry, speeding up service access, enhancing compliance, and promoting transparency. With over 900,000 DULs issued so far, it underscores Dubai's commitment to fostering a welcoming, efficient, and competitive business landscape.
Thanks to DUL, business owners, SMEs, and investors can now launch and expand ventures with unprecedented speed, reinforcing Dubai's status as a premier center for trade, innovation, and economic vitality.
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