DED issues 1,377 licences in November 2008

The majority of these were issued in the commercial sector (1,111), followed by the professional sector (244), industrial (11) and tourism (11), according to a comprehensive report prepared by the Economic Affairs Division at the DED.

'Perfumes and cosmetics' led the list of the top 10 licensed activities with (150) licenses issued, followed by 'ready made garments' (136), 'general trade' (125), 'watches and accessories' (119), 'paints and dyes' (101) and 'floor tiling works' (97).

"The significant number of commercial licences issued reflects the activity witnessed by this sector and the high level of local and foreign investor interest in the emirate,"

said Mr Mohammed Shael, Chief Business Registration & Licensing Officer.

he commercial sector represents 80 per cent of the total number of licences issued in November, he added.

"The DED opened branches in key locations to be aligned to the Department's objectives to expand its services and help clients in getting their work finished efficiently and on time. The branches offer quality services for customers that will speed up the licensing process and facilitate procedures for clients who no longer have to visit the DED premises in Deira," added Mr Shael.

'Limited liability companies' (LLCs) topped the list of issued licences according to legal status with 779 licences issued in November, followed by 'Individual Corporations' with 513. The total number of transactions during November 2008 reached 29,868. 'Licence renewal' topped the list of transactions with 6,394 (21 per cent) followed by 'Licences amendment' with 4,770 (16 per cent) and 'Trade name' with 4,232 (14 per cent).

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 163 licences issued in November 2008 a 208 per cent increase from November 2007. Under the Intlaq programme, commercial trading licenses constituted 84 per cent of those issued.

In November, DED issued 26 new licences to branches of foreign firms from India, Britain, British Virgin Islands, Pakistan, Sweden, Cyprus, Spain, The United States and elsewhere.