Dubai has achieved a major breakthrough in ease of doing business as the Dubai Business Registration and Licensing Corporation (DBLC), part of the Dubai Department of Economy and Tourism (DET), announced that its Dubai Unified Licence (DUL) initiative has reduced the average time to open a business bank account from 65 days to just five.
Introduced in 2023, the DUL provides every business in Dubai with a single, government-verified commercial identity to streamline access to essential services. In 2024, the system was enhanced through the Service Providers Project, enabling companies to handle banking, utilities, and trade services through one integrated platform.
Since its rollout in October 2024, more than 3,000 new business accounts have been opened and over 134,000 business profiles updated. The initiative aligns with the Dubai Economic Agenda, D33, which aims to double the size of the emirate’s economy by 2033 and solidify Dubai’s status as a global business hub.
Ahmad Khalifa AlQaizi AlFalasi, CEO of DBLC, said the DUL’s efficiencies reflect Dubai’s commitment to digital-first governance and its goal of creating an investor-friendly environment. He emphasized that collaboration between government entities and the private sector has been key to the project’s success.
Several leading banks, including Emirates NBD, Mashreq, FAB, and Emirates Islamic Bank, are integrated into the system, alongside partnerships with major government bodies such as MoHRE, DEWA, and RTA.
To date, more than 900,000 DULs have been issued across Dubai’s mainland and free zones, marking a significant step toward greater transparency, efficiency, and innovation in the city’s business landscape.
News Source: Emirates News Agency
