The process of opening a business bank account in Dubai has become much faster. The Dubai Business Registration and Licensing Corporation (DBLC) of the Dubai Department of Economy and Tourism (DET) has reduced the average time it takes to open a business bank account in Dubai by a significant margin of 65 days to five days, which has significantly improved the ease of doing business in Dubai. Dubai has achieved one of the greatest milestones in its quest for business excellence.
This is made possible by the Dubai Unified License (DUL) system, the centralized digital platform that was launched to ease the process of forming a company and to facilitate the process of accessing government services as well as the services of the private sector. Since the launch of the DUL in 2023, there has been an accelerated growth in efficiency in various sectors, including banking, utilities, and trade, which have contributed to the Dubai Economic Agenda D33 that seeks to increase the economy of Dubai by 2033.
Table of Contents
Over 3,000 Business Accounts Opened Through DUL
The DUL initiative has continued to gather momentum. With over 3,000 new business bank accounts opened with the system since October 2024 and over 134,000 business profiles updated, the system has created more than 3,000 new business bank accounts.
Overall, over 900,000 unified licenses have been given to businesses on the mainland and in the free zones of Dubai, which is a reflection of the increased confidence of entrepreneurs, SMEs, and international investors in the Dubai business environment.
The effectiveness of the DUL initiative presents the idea of how the cooperation between state agencies and the business sector can bring actual benefits to the businesses. We are also creating a clear, investor-friendly atmosphere together to meet D33 Agenda objectives.
Banks and Government Entities Now Fully Integrated
The DUL platform is an initiative that unites key institutions and major financial institutions, providing a smooth and consistent digital experience to businesses.
Also Read: Make cardio more fun during this Dubai Fitness Challenge with Loco Bear’s ‘Anti-Gravity Combo’
The banks involved are Emirates Islamic Bank, Mashreq Bank, Commercial Bank of Dubai, First Abu Dhabi Bank, Emirates NBD, Emirates Development Bank, and Ruya Bank.
In addition to banking, integration is also implemented in the core public services with joint ventures with MoHRE, DEWA, Dubai Trade, RTA, MOFA, and Arab Financial Services (AFS)—bringing transparency, lessening duplication, and boosting operational efficiency.
A Boost for Dubai’s Digital Economy
The Dubai Unified License is not merely an administrative change but a foundation of the digital-first economy of the city. The DUL simplifies compliance and paves the way to faster service delivery and promotes investor trust by centralizing confirmed business information in a strong and safe central repository.
This new development is indicative of the further efforts by Dubai to become one of the easiest and most competitive business destinations in the world. It has brought the entrepreneurs better access to finance in less time, simplified the process of setting up, and increased their trust in the progressive regulatory environment of the emirate.
To entrepreneurs and investors, the difference is obvious: more rapid account openings, an easier setup process, and a business ecosystem that is indeed up to the international ambitions of Dubai. Concisely, what used to take months will now be achieved in just five days to reestablish Dubai as the centre of innovation, opportunity, and growth in the region.