Dubai has been providing countless opportunities to foreign and local investors for quite some time now. One such investment option is Invest in Dubai (IID), the integrated digital business set-up platform of the UAE. The platform is launched to make the process of establishing businesses simply. If you don’t have an idea about this opportunity, this guide is here to help. Read on to learn everything about the ‘Invest in Dubai’ platform and how it is helpful for businesses and corporations.
What is ‘Invest in Dubai’ Platform?
Invest in Dubai (IID) is an amazing business setup platform that provides a distinctive experience supported by Dubai’s latest smart solutions. With this one-stop-shop platform, investors from across the globe can obtain trade licenses and launch their businesses in no time.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai and Vice President & Prime Minister of the UAE launched this platform back in 2021. It has recorded robust growth in its use. This shows that the position of Dubai as a top-of-the-line global business destination for fresh entrepreneurs and experienced investors internationally and locally is constantly growing.
Investors can search for information on investment opportunities in key economic sectors, commercial zones (or free zones), locations of businesses in Dubai, competitor analysis, and the cost of incubating businesses. Businessmen can also look for attractive business ideas and have insights into projections for key sectors and investment opportunities. Furthermore, investors can look into sector statistics and reports on international direct investment.
This remarkable growth of the IID portal backs the goal of the General Secretariat of The Executive Council of Dubai. The goal is to integrate government operations flawlessly in accordance with the leadership’s objective of facilitating business activities at a global level. This platform contributes to serving investors and business leaders by speeding up, facilitating, and unifying business set-up operations with little to no effort.
In this centralized portal, you can apply for government permits and approvals such as commercial licensing without physically visiting any service centers. This platform also provides value-added services and exciting packages that support firms and companies in starting commercial projects.
Development of Invest in Dubai
The Dubai Department of Economic Development (DED) and Smart Dubai created ‘Invest in Dubai’ under the direction of the General Secretariat of the Executive Council of Dubai.
Over a four-month period, a group of above 70 individuals representing above 20 federal governmental and local organizations collaborated with the commercial sector to develop the platform.
Over 80,000 hours of work were put by the group into developing a comprehensive and integrated platform to meet Dubai’s high standards.DED or The Dubai Department of Economic Development looks over the operations of the portal.
How ‘Invest in Dubai’ Platform Work?
To help launch your commercial projects within a set deadline, Invest in Dubai portal will help you with obtaining a membership in the Dubai Chamber of Commerce and Industry, getting a ticket for a new establishment as demanded by the Federal Authority for Identity and Citizenship, notarising a rental contract by the Real Estate Registration Department, getting a ticket at the Ministry of Human Resources and Emiratization, providing labor quotas, and notarizing the establishment contract by the Department of Economic Development.
Information on the terms, needs, and costs for acquiring trade licenses in Dubai for well above 2,000 commercial activities that are available to investors.
Additionally, they can obtain licenses for their companies and other commercial licenses immediately. The integrated portal provides investors with a personalized dashboard where they can track various business insights such as KPIs, partners, licenses, and other useful business information.
Business Activities Under Invest in Dubai
IID also licensed 485 activities which are as follows:
- Tailoring
- Cosmetics
- Project management services
- Installation of suspended ceilings and light partitions
- Electronic complexes
- Engraving and decoration
- Social media marketing services
- Perfumes
- Technical works and maintenance
You can avail of various commercial licensing services via this platform offers which will let you get over 15 government approvals and permits without the requirement to pay a visit to any service center.
IID also offers additional services in a second phase including the opening of traffic files for cars, completely new services for commercial licenses, and the opening of accounts through a more wide range of banks.
830 first approvals were given through the site, while 275 approvals for establishing new businesses were also given.
Since its start, the IID portal has kept track of more than 5,747 license transactions and business registration. It resulted in the reservation of 1,448 trade names and the issuance of about 3,464 commercial licenses. Businesses that obtained licenses using the portal produced nearly 9,181 employment opportunities.
Frequently Asked Questions
How can I invest in investment in Dubai?
You can easily invest in investment in Dubai by following some procedures. We recommend getting in touch with business setup consultants in Dubai, UAE such as Riz and Mona to make secure investments in Dubai, UAE.
What is the best investment plan in Dubai?
Here are some of the best short-term investment plans in Dubai, UAE:
- Fixed Maturity Plans (FMPs)
- Savings Account
- Gold & Silver Investments
- Liquid Funds
- Recurring Deposits
- Fixed Deposits
- Equity Derivatives
How can I invest in the Dubai business?
You can invest in Dubai business through the Invest in Dubai portal. The platform allows you to invest in various businesses in an easy and quick way.
Who invested most in Dubai?
The US, Saudia Arabia, the UK, Kuwait, and India together contributed almost AED 15 billion in FDI in 2015, making the Kingdom of Saudi Arabia the largest single source. Canada accounted for 30% of all inward investments in 2016, followed by the UK (13%), France (11%), Spain (8%), and the US (7%).
How can I grow money in Dubai?
Here are 8 options for expats to invest and grow their money in the UAE:
- Purchase gold
- Try the risk-free alternative of national bonds
- Study the topic of crypto
- Take advantage of low-cost mortgage options in real estate
- Think about dividend stocks
- Observe trends and look for chances
- Invest your money in the long term
- Discover renowned companies
Conclusion
‘Invest in Dubai’ is a fantastic platform for people to invest and start a new business in any commercial sector of Dubai, UAE. The portal makes it effortless and quick to get permits and launch a new business. The platform is of great help to new businessmen and foreign investors as they will now be saved from visiting the offices on their own.
If you want to start your own business in Dubai, you should get in touch with Riz and Mona, company formation experts in Dubai. We will handle your application and follow the process on your behalf to launch your new business without you facing any hectic visits to offices and departments. So, without wasting any time, book a free consultation slot now to open your company in Dubai right away.
