A little over two months ago, a major legal update was introduced for the Emirate of Dubai: The establishment of the Unified Digital Platform (pursuant to Decree No. 13 of 2024), aimed at facilitating investors' journeys from start to finish. The platform will operate to implement 5 key principles that the Dubai Government will adopt to grow foreign investments in the Emirate.
The Unified Digital Platform (UDP) for the incorporation of new companies and for setting up new businesses aims to create an environment that supports economic growth in Dubai. The objective is to enhance the investor’s experience and make it as quick and seamless as possible.
The UDP will connect all government authorities and entities that issue permits for the related economic activities they regulate and ensure that any type of license/permit can be obtained through the one unified platform.
The platform will be supervised and controlled by the Department of Economy and Tourism in the Emirate of Dubai, which is expected to issue explanatory guides on the operation of UDP.
The UDP will be the material implementation of the key principles the Dubai Government has set for itself in relation to facilitating investment and new businesses within its jurisdiction. The principles were outlined in Dubai Executive Council Resolution No. 5 of 2024, however the two below are the most significant for me personally:
- Instant Licensing/Renewal of Licenses. Provided the applicant meets all the requirements, submits all the required documentation, and settles the necessary fees, the issuance of permits/licenses—or their renewal—should be instant through the platform. No waiting for a certain timeframe to pass.
- Ease and Flexibility. In short, this means authorities and regulatory bodies may drop some requirements that may hinder the issuance of permits/licenses. For example, certain activities that required specific academic qualifications may no longer require these qualifications to be met. Only the proper documentation and the permit/license are approved. It’s important to note that this depends on the nature of the economic activity for which the applicant is seeking a permit/license.