Unified License System: Dubai Slashes Business Bank Account Opening Time from 65 Days to 5

Unified License System: The Dubai Business Registration and Licensing Corporation (DBLC), under the Dubai Department of Economy and Tourism (DET), has introduced a landmark achievement in the business landscape with the Dubai Unified License (DUL) System. Hence, it aims to reduce the average time of opening a bank account from 65 days to 5 minutes. 

The system is a centralized business identity framework created to simplify and boost the company setup and operation across Dubai. In addition, the DUL supports the Dubai Economic Agenda (D33), which aims to double the size of the emirate’s economy by 2033.

Over 3,000 Business Bank Accounts Opened Through Unified License System

Since the introduction of DUL in 2023, the system has transformed how businesses interact with the government and private sectors. Moreover, the system has expanded its reach through the Service Providers Project in October 2024 to allow companies to access important services, like banking and utilities, through a single digital platform. 

Till now, more than 3,000 new business accounts have successfully opened through this system. Moreover, over 134,000 business profiles have been updated with this license. In addition, over 900,000 unified licenses have been issued to companies across the mainland and free zones of the city. Hence, it highlights the vast adoption and success of this license among entrepreneurs, SMEs, and international investors.

Public-Private Collaboration Driving Dubai’s Vision

Ahmad Khalifa AlQaizi AlFalasi, CEO of DBLC, said while commenting on this milestone, “The success of the DUL initiative showcases how the collaboration between the private sector and government entities through our shared determination to create a transparent, investor-friendly environment that supports the goals of the D33 Agenda.”

Now, the Unified License System includes big banking partners, including Emirates Islamic Bank, Mashreq Bank, Commercial Bank of Dubai, First Abu Dhabi Bank, Emirates NBD, Emirates Development Bank, and Ruya Bank.

Seamless Integration Across Key Sectors

Besides banking, the DUL platform is integrated with many leading government and service entities. Below is the list of those partners:

• Ministry of Human Resources and Emiratisation (MoHRE)
• Dubai Electricity and Water Authority (DEWA)
• Dubai Trade
• Roads and Transport Authority (RTA)
• Ministry of Foreign Affairs (MOFA)
• Arab Financial Services (AFS)

These collaborations enable smoother access to services, data verification, and compliance. Hence, it boosts a clear and efficient business ecosystem in Dubai. 

 A Major Step in Dubai’s Digital Transformation

The DUL initiative is a basis of the broader digital transformation strategy of Dubai. Moreover, it is created to make the emirate one of the easiest and most efficient places in the world to conduct business. 

It consolidates verified business data into a single secure registry. Hence, it eliminates duplication, enhances transparency, and simplifies access to both public and private sector services.

This unified license system reduces the administrative burden on businesses. In addition, it also builds investor confidence and promotes digital-first governance. Hence, it perfectly aligns with the goal of D33 Agence to boost global competitiveness. 

 Boosting Investor Confidence and Economic Growth

The impact of the Dubai Unified License is already visible across business communities. Hence, entrepreneurs and investors can enjoy the following perks:

• Faster access to finance
• Simplified company setup processes
• Improved regulatory efficiency

Dubai continues to position itself as a global hub for business due to reduced setup times and increased transparency. In addition, it prioritizes innovation,  digital excellence, and investor satisfaction.

Initiatives like the Unified License System are a new benchmark in business efficiency and government collaboration as Dubai advances toward its D33 economic vision. Hence, it reinforces the emirate’s reputation as a world leader in ease of doing business.

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