DED and Dubai Courts launch electronic Memorandum of Association
DUBAI- In line with the Dubai Smart Government initiative and the vision of Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform Dubai into the smartest city in the world the Department of Economic Development in partnership with other government authorities concerned has announced the automation of the Memorandum of Association and the launch of the ‘120 days hassle free license’ effective 15th of May 2014.
The announcement was made at a press conference held today in the presence of the heads of various federal and local government agencies. DED also announced that a comprehensive guidebook on starting business in Dubai will be made available on its website – www.dubaided.gov.ae – and smart application ‘Business in Dubai’ in line with the Dubai Smart Government initiative.
With the electronic Memorandum of Association for partnership companies one of the partners can register online and enter all details of other partners following which the system will contact each partner with a brief description of the license.
Once all partners confirm their application electronically the system will ask each of them to use their ‘My ID’ username and password to log in to their respective account to approve the Memorandum of Association. The Ejari number should be entered to generate the payment voucher and the license will appear on the smart phone as soon as the payment is completed.
The 120 days hassle-free license allows the businessman to start his business immediately and complete the rest of the licensing requirements, such as approvals from other government authorities concerned, within the next 120 days. DED issues the license depending on the risk factors of the intended business activity.Government authorities are entitled to ensure full compliance of the license holder to the license criteria on day 121.
Meanwhile, the guidebook on starting business in Dubai will make it easier for investors to start and do business in Dubai by removing ambiguities associated with business registration and licensing or activities permitted under commercial, industrial and professional licences. The directory in printed format will also be available for sale at an affordable price.
Sami Al Qamzi, Director General of DED commented: “We thank all related government authorities for the co-operation extended to our smart initiatives. It shows the keenness of government ministries and departments to accomplish the vision of Sheikh Mohammed Bin Rashid Al Maktoum.”
Al Qamzi added that going smart fits with the DED strategy of supporting businesses to be sustainable and competitive. “We are progressively bringing our service delivery on to a smart platform and have already launched smart applications such as Sallety, which is the first of its kind in the region. Such initiatives also show that the private and public sectors can work together and align their strategies to ensure competitiveness and added value to customers.”
Tarish Al Mansoori, Director General of Dubai Courts also lauded the new initiatives and said it proved that government authorities can create successful synergies to enhance customer convenience and achieve the vision of the leadership.
Abdullah Nasser Lootah, Secretary General of the Emirates Competitiveness Council (ECC), referred to the role played by the UAE in enhancing competitiveness and the ongoing efforts to enhance the country’s rankings in global competitiveness indices.
“The Doing Business Report of the World Bank measures the performance of each country in key areas such as number of procedures, cost and time taken to set up businesses. Any efforts to improve such performance will reflect positively on service quality and customer satisfaction, besides enhancing confidence in the country worldwide,” said Lootah.
Mohammed Shael Al Saadi, Chief Executive Officer of the Business Registration and Licensing sector (BRL) in DED said that investors in Dubai will be able to focus more on their core business activity with the new initiatives being launched.
“We are committed to integrating state-of-the-art technology to improve customer experience and competitiveness levels as envisioned by our leadership. Dubai Smart Government has provided us with a framework to develop best-in-class service standards,” added Al Saadi.
Smart Dubai initiative aims to transform Dubai into the smartest city in the world through 100 targeted initiatives and 1,000 smart services, which will improve quality of living in Dubai. The initiative will focus on six areas – smart economy, smart living, smart transportation, smart governance, smart environment, and smart generation– largely based on three main themes, which are Communication, Integrity and Co-operation.