There is a great deal of interest in dual licences for businesses in Dubai. Dubai’s dual business licence has become necessary since there are many possibilities to participate in more than one company or commercial organisation. Knowing of these expectations, Dubai International Financial Centre (DIFC) or Dubai Airport Freezone (DAFZA) are exploring enabling dual business registration outside of their respective free zones.
Previously, DED rules allowed for just one company licence in Dubai. But today, establishing a company at DAFZA or DIFC enables you to get a dual business licence in Dubai without having to acquire another business licence. The amount of international investors interested in establishing numerous companies has prompted Dubai Freezone Authority (DFA) and Dubai International Financial Centre (DIFC) to agree and sign a memorandum of understanding (MoU) which permits commercial operations to exist throughout Dubai.
Registering business in Dubai Freezone, DAFZA and DIFC, and Dubai Mainland are all possible with a dual business licence. The MoU is an attempt to increase Dubai’s attractiveness as a trade hub, while also bolstering policies that foster a business-friendly climate.
In addition, the MoU stipulates that the Dubai Department of Economic Development (DED) has the authority to adjust or introduce any service that pertains to the licences granted to the business. Approval of a specific freezone is required in order to conduct an activity of consideration. If DED and any of the freezones where the business is formed determines that the dual licence is acquired, the DED and the freezones will verify that the dual licence was obtained in accordance with the legislation. Dubai and the UAE as a whole will see an increase in value thanks to the dual licencing scheme.