DED issues 1,026 licences in September 2007

• 93 per cent increase in the number of Intlaq home business
licences
• 17 new licences issued to branches of foreign firms

The majority of these were issued in the commercial sector (830), followed by the professional sector (171), industrial (18) and tourism (7), according to a comprehensive report prepared by the Economic Affairs Division at the DED.

The Intlaq scheme, an initiative by the Department of Economic Development to encourage more UAE nationals to set up businesses from home, received strong response with 58 licences issued in September 2007, a 93 per cent increase from September 2006. The largest growth was recorded in the trade category, with 48 licenses issued.

'General trade' led the list of the top 10 licensed activities in the commercial category with 115 licences issued, followed by 'ready made garments' with 81, 'gifts' with 68 and 'Watches and accessories' with 68. 'Wooden interior design utilities', 'metal construction industry', 'metal ceiling industry', 'metal construction parts industry' and 'metal works industry for buildings' led the list of activities in the industrial category with two licences issued for each.

Limited liability companies (LLCs) topped the list of issued licences according to legal status, with 586 licences issued in September followed by Individual corporations with 377. The total number of transactions during September 2007 reached 25,324. 'Licence renewal' topped the list of transactions with 5,234 (21 per cent) followed by 'Licence amendment' with 4,437 (17.5 per cent) and 'Commercial permits' with 3,983 (16 per cent).

In September, DED issued 17 new licences to branches of foreign firms from the United States of America, South Korea, Japan, Spain, British Virgin Isles, Germany and elsewhere.