Dubai introduces unified digital registry for companies

A unified digital registry has been launched for all companies in Dubai, as a part of efforts to reinforce the convenience of doing enterprise.

According to the Department of Economy and Tourism (DET), the ‘Dubai Unified Licence’ (DUL) is a novel industrial identification offered to all companies within the emirate.

It’s issued to present and newly established entities in Dubai, working with both a mainland or a free zone licence.

The registry, launched in collaboration with the Dubai Free Zones Council, consolidates all financial institutions in Dubai and its free zones right into a single platform for information administration, collation and sharing, serving as a dependable single digital data supply.

The initiative goals to standardise and streamline Dubai’s enterprise processes in accordance with international finest practices, guaranteeing that the most recent firm information, together with licence particulars and information, are persistently maintained inside the registry.

Streamlined Approach

The ‘Dubai Unified Licence’ enhances effectivity and reduces the time required for corporations to determine and handle their operations.

It ensures larger transparency and ease of entry to business-related data, additional enhancing Dubai’s attraction as a dynamic and reliable funding vacation spot.

The DUL additionally reinforces the compliance framework outlined within the nationwide anti-money laundering and combating the financing of terrorism (AML/CFT) technique, guaranteeing the integrity of the UAE economic system and the worldwide monetary system.

As a part of the initiative, institutions will endure thorough validation, verification and screening by the suitable authorities with the intention to obtain their distinctive digital id.

To date, DET has issued over 50,000 licences, with plans to problem extra within the coming interval, protecting all registered corporations in Dubai mainland and in Free Zones.

Key Features

The initiative gives entry to verified DUL information housed in a digital repository, streamlining enterprise verification processes in numerous interactions.

The issuance of No Objection Certificates (NOCs) and permits for financial actions is simplified by means of a unified and streamlined course of.

Furthermore, the DUL provides unified and verified details about present companies, proving advantageous for potential homeowners looking for particulars about working companies within the emirate.

Businesses can use their distinctive DUL QR Code on their premises, web sites and social media accounts as an alternative of presenting the normal commerce licence certificates. This QR Code permits authorities entities, service suppliers, suppliers and prospects to scan and retrieve details about the corporate.

Looking forward, the DUL goals to facilitate banks in opening accounts for Dubai-based corporations with enhanced ease and effectivity.