7,961 licences registered with Dubai Department of Economic Development
According to a comprehensive report prepared by the Economic Affairs Division, Dubai Department of Economic Development (DED) issued 7,961 licences for various businesses in the first-half of 2008. The majority of these were issued in the commercial sector (6,514), followed by the professional sector (1,232), industrial (112) and tourism (103).
General Trade led the list of the top 10 licensed activities with 864 licences issued, followed by Ready-Made Garments 655, Watches & Accessories 596, Real Estate Brokerage 565, Perfumes & Cosmetics 558 and Paints & Dyes 541.
The Intlaq scheme, an initiative by the DED to encourage more UAE nationals to set up businesses from home, received strong response with 474 licences issued in the first-half of 2008, a 48% increase over the same period last year. The scheme's highest growth was recorded in the trade category, with 394 licenses issued.
Limited Liability Companies (LLCs) topped the list of issued licences according to legal status with 4,386 licences issued in the first-half of 2008, followed by Individual Corporations with 3,082. The total number of transactions during the first-half of 2008 reached 198,855. Licence Renewal topped the list of transactions with 41,602 (21%) followed by Licences Amendment with 30,667 (15%) and Commercial Permits with 28,936 (14.5%).
In the first-half of 2008, DED issued 107 new licences to branches of foreign firms from India, China, South Korea, USA, Britain, The British Virgin Islands, Japan and elsewhere.
