Dubai Economy issues 41,252 e-MOA and e-MOA addendums from Jan 2019 to May 2020

Dubai Economy issues 41,252 e-MOA and e-MOA addendums from Jan 2019 to May 2020

The Business Registration & Licensing (BRL) sector in Dubai Economy has issued 41,252 electronic Memorandum of Association (MOA) and e-MOA addendums from January 2019 to end-May 2020. This is in line with the Federal Decree-Law No. 7 of 2018 by President His Highness Shaikh Khalifa Bin Zayed Al Nahyan amending articles within Federal Law No. 02 of 2015 on Commercial Companies.

The report showed that 85% of e-MOAs were issued by Dubai Economy, while 42% were related to e-MOA addendums of the total licences that require MOA. The electronic MOAs issued during the period varied with 90% being professional, followed by tourism, commercial and industry.

These figures underscore Dubai Economy's strategy to further strengthen ease of doing business in Dubai, as well as enhance the emirate's competitiveness and ability to attract businesses and support their sustainable growth, as well as to expand the number of businesses in various economic sectors in Dubai.

Business owners in Dubai can get the e-MOAs and all its addendums through Dubai Economy service centres or through approval to the text message from 6969 without the need to visit Dubai Economy.

The report also showed that during the first five months of 2020, Dubai Economy issued 9,282