Companies registered in UAE’s free zone issue 203,000 licenses
Date
10/27/2024 5:22:55 AM
(MENAFN) By the end of the third quarter of this year, companies registered in the UAE’s free zones had issued nearly 203,000 licenses, which accounts for 22 percent of all licenses issued in the country. This cumulative number reflects an 18 percent increase over the first nine months of 2024, translating to around 31,000 new licenses issued compared to the approximately 172,300 licenses that were active by the end of 2023.
Recent data from the National Economic Registry indicates that Dubai continues to hold the largest share of free zone licenses in the UAE, capturing about 55 percent of the total. As of July, the emirate had issued more than 111,000 licenses and welcomed 15,700 new licenses during the first nine months of the year. This growth highlights Dubai's attractiveness as a business hub.
The distribution of licenses is spread across 15 different free zones in Dubai, including notable areas such as Dubai Silicon Oasis, Dubai Multi Commodities Centre, and Jebel Ali Free Zone (JAFZ). Other prominent zones include the Dubai Development Authority and Dubai International Financial Centre, among others, which contribute to the diverse economic landscape of the emirate.
In terms of other emirates, Ras Al Khaimah ranked second with approximately 42,900 licenses issued across its free zones. Sharjah followed closely with around 38,900 commercial licenses spread across four free zones. Abu Dhabi had about 10,000 licenses registered in five free zones, with the Abu Dhabi Global Market taking the lead. Additionally, about 1,000 licenses were issued in the investment zones of Ajman, Fujairah, and Umm Al Quwain, showcasing a varied distribution of business activities across the UAE.
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