(MENAFN - Arab News) Do you wish to start a business in dubai? then you may start it immediately. no need to wait to complete your licensing formalities. the investor may complete the rest of the licensing requirements such as approvals from other government authorities concerned within the next 120 days.
the system which is known as '120 days hassle free license' is part of smart services.
'this will be implemented from may 15" department of economic development (ded) officials told a press conference.
'this is in line with the dubai smart government. the initiative aims to transform dubai into the smartest city in the world through 100 targeted initiatives and 1000 smart services which will improve quality of living in dubai."
the 120 days hassle-free license allows the businessman to start his business immediately and complete the rest of the licensing requirements within the next 120 days. ded issues the license depending on the risk factors of the intended business activity.
however government authorities are entitled to ensure full compliance of the license holder to the license criteria on day 121.
the ded in partnership with other government authorities has also announced the automation of the memorandum of association.
with the electronic memorandum of association for partnership companies one of the partners can register online and enter all details of other partners following which the system will contact each partner with a brief description of the license.
once all partners confirm their application electronically the system will ask each of them to use their 'my id' username and password to log in to their respective account to approve the memorandum of association. the ejari number should be entered to generate the payment voucher and the license will appear on the smart phone as soon as the payment is completed.
'we are progressively bringing our service delivery on to a smart platform and have already launched smart applications such as sallety which is the first of its kind in the region. such initiatives also show that the private and public sectors can work together and align their strategies to ensure competitiveness and added value to customers" said sami al-qamzi director general of ded.
'we thank all related government authorities for the co-operation extended to our smart initiatives" he added.
the officials also stated that a comprehensive guidebook on starting business in dubai will be made available on ded website which will make it easier for investors to start and do business in dubai.
different department heads addressed the media during the press conference.