Dubai continues to strengthen its global reputation as one of the easiest places to do business. The city cut the time to open a business bank account by 90%—from 65 days to just five—thanks to the Dubai Unified Licence (DUL), a digital initiative that provides every business with a verified government-backed digital identity.
The DBLC announced the move to simplify processes, attract global investors, and enhance competitiveness in support of Dubai’s mission.
What Is the Dubai Unified Licence?
Introduced in 2023, the Dubai Unified Licence provides every registered business in the emirate—whether on the mainland or within a free zone—with a unique digital identity verified by the government. This single identifier enables companies to access vital services through a unified system.
With the DUL, businesses can now handle everything from banking and utilities to trade, labour, and regulatory approvals on one streamlined platform. The goal is to make the entire business setup process faster, more transparent, and more efficient.
Since its rollout, over 900,000 licences have been issued. In 2024, the system was further enhanced under the Service Providers Project, connecting it with major banks and government departments. This connection has already facilitated the opening of more than 3,000 new business bank accounts and the updating of over 134,000 business profiles.
From 65 Days to Just 5: A Major Leap for Entrepreneurs
For many investors and entrepreneurs, opening a business bank account was traditionally one of the most time-consuming steps in launching a business in Dubai. The average waiting period stretched to more than two months due to verification, documentation, and compliance checks.
The DUL has changed that entirely. Businesses can now open an account in as little as five days, thanks to direct integration between the DUL system and major financial institutions.
Some of the key banks currently integrated include Emirates NBD, Mashreq Bank, Commercial Bank of Dubai, First Abu Dhabi Bank, Emirates Islamic Bank, Emirates Development Bank, and Ruya Bank. With this integration, new businesses can open accounts digitally using their DUL credentials—cutting down the back-and-forth traditionally required between banks and regulators.
Ahmad Khalifa AlQaizi AlFalasi, CEO of DBLC, emphasised that this development “offers entrepreneurs a faster, simpler, and more transparent way to start their business journey in Dubai.” He added that the DUL reflects the emirate’s commitment to digital-first governance and innovation-led growth.
Boosting Dubai’s Vision for Economic Growth
The initiative directly supports the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy by 2033 and position Dubai among the world’s top three economic cities.
By streamlining the bank account setup process and centralising verified business data, the DUL not only saves time but also improves transparency, compliance, and accuracy across public and private sectors. It reduces duplication, enhances governance, and allows investors to focus on operations rather than paperwork.
For startups, this speed can be transformative. Instead of waiting months to begin transactions, entrepreneurs can now launch operations within days, giving Dubai’s business ecosystem a sharper competitive edge.
This development also ties into the government’s broader drive toward smart governance, where digital systems bridge gaps between agencies and the private sector, ensuring a more seamless, connected business environment.
Expanding Beyond Banking: A Fully Integrated Business Ecosystem
The DUL’s impact extends far beyond just banking. It’s quickly becoming a one-stop gateway for various business services in Dubai. The platform is being integrated with major entities like the Ministry of Human Resources and Emiratisation, Dubai Electricity and Water Authority (DEWA), Roads and Transport Authority (RTA), Dubai Trade, Ministry of Foreign Affairs, and Arab Financial Services.
These partnerships allow companies to manage multiple regulatory and operational requirements using the same verified licence. From applying for trade approvals to handling employee visas or utility connections, businesses can complete essential tasks faster, using their DUL identity as a single source of truth.
This consolidation of verified data also boosts security and confidence for all stakeholders involved — from banks to investors to government bodies.
for Startups and Global Investors
For entrepreneurs, the reduction in time and paperwork can mean the difference between launching quickly and missing opportunities. Startups can now focus on product development, hiring, or marketing while administrative tasks take place digitally in the background.
Multinational investors also benefit from having a unified verification system, which helps them establish local operations with minimal friction. The DUL simplifies cross-border processes, offering global companies a streamlined path to entry into Dubai’s thriving market.
Legal and business experts in the UAE have praised the move as a defining step in transforming Dubai’s business landscape. According to industry consultants, the DUL represents not just a procedural upgrade but a fundamental shift in how businesses interact with government and financial institutions.
Dubai’s Digital-First Future
The Dubai Unified Licence is being hailed as a regional benchmark in digital transformation and business enablement. Its success reflects the city’s long-term strategy to create an environment built on trust, efficiency, and innovation.
By combining technology with policy reform, Dubai is setting a new global standard for ease of doing business — one that empowers entrepreneurs, attracts foreign investors, and reinforces its role as a global economic hub.
As AlFalasi noted, “DUL is not just a digital tool, it’s an enabler of opportunity.”
The Dubai Unified Licence marks another leap forward in the emirate’s journey toward a smart, investor-friendly economy. With faster banking, integrated services, and a simplified setup process, doing business in Dubai is now easier than ever.
Read More:
- Dubai launches AI-powered drones to monitor green spaces across the city – Social Kandura
- Dubai’s Party Scene Takes Flight With A Hot Air Balloon Experience Featuring MRGOODALF And DJ Bliss – Social Kandura
Follow Social Kandura for more updates on local news and things to do in Dubai and across the UAE.
