Dubai issues 362 licences to Chinese investors
Over 362 business licences were issued to 696 Chinese investors during the first six months of this year, underlining the strong interest of Chinese investors in the competitive business environment of Dubai, a report issued by the Business Registration & Licensing (BRL) sector in the Department of Economic Development (DED) Dubai showed.
Of these, 210 licences were issued for commercial activities followed by 149 for professional activities and the remaining three were industrial licences. The number of female Chinese investors is 241, compared with 455 male investors. The figures show that Dubai is a favoured destination for Chinese investors and entrepreneurs led by the emirate's strategic location and diversified economy. Dubai's safe environment for living, working, investing and its diversified economic climate attract investments in all business sectors, assuring long-term growth and returns. The popularity of Dubai among Chinese entrepreneurs also reflects the strong bilateral relations between the UAE and China.
Of the total number of licences issued, 225 are for limited liability companies, 113 for sole proprietorship companies, 15 for civil companies, three for branches of foreign companies, three for branches of companies based in other emirates, as well as one limited liability company, one free zone branch, and one government commercial liaison office. The Burj Khalifa area accounted for the largest share of the Chinese licences issued during the first half of 2019, followed by Al Fahidi, Riggat Al Buteen, Port Saeed, Naif, Al Rigga, Al Nahda 1, Al Barsha 1, Al Bada and Al Khabaisi.
Readymade garments topped the list of the business activities by the Chinese investors, followed by textiles, footwear, handbags and leather products, general trade, gifts, blankets, towels and household linen, perfumes and cosmetics, bags and travel supplies, children's clothing, and ornaments of non-precious metals. The top professional activities included women's salon, physiotherapy centre, health club, coffee shop, men's salon, restaurants, computer systems design and communication equipment, health and therapeutic services, electronic games, watches repair and IT infrastructure. Industrial activities included: processing of oils and vegetable fats, manufacturing of animal fats and oils, production of dry grain foods, meat freezing, wood products, grain processing, processing of herbal plants, rice peeling, whitening and polishing, and grain grinding.