Dubai is one of the main countries that has developed into a global trading hub. However, in order to operate lawfully, a company must first obtain a Trade License in Dubai. As a result, every company in the United Arab Emirates requires a trade license in order to carry out its trading objectives without difficulty.
A trade license is essential for all businesses operating in the UAE, whether they are selling items, services, or anything in between. However, obtaining a license in the UAE is not a one-time event; it must be renewed annually. If a corporation fails to regulate its licensing, it may face severe consequences ranging from a fine to being placed on a blacklist. As a result, it is advisable to take adequate precautions or seek professional assistance to avoid any problems.
Thus, if you’re a startup, entrepreneur, or organization that’s new to the process or just wants to stay up to date on the newest developments, here are some guidelines for Trade License Renewal Dubai.
Steps for Trade License Renewal in Dubai
Approval from the Appropriate Government Bodies
To comprehend the term of a license’s due date, a company must first distinguish between the categories of licenses. Typically, a mainland license gives a 30-day grace period for renewal before charging 250 AED or more as a penalty. Companies can check the status of this requirement by going to the government’s website. The process of renewing a license on the mainland and in a free zone is essentially the same, with the exception that the licenses are issued by different authorities.
The Dubai Economic Department (DED) is responsible for mainland license renewal, whereas the application for Free Zone license renewal is filed with the competent designation authority of the selected Free Zone.
Submission of All Legal Documents
The most important document for a mainland license is an authenticated tenancy contract that must be valid for at least one month after the application is submitted. Following that is a BR/1 form, a tenancy agreement, a photocopy of the trading license, and the proprietors’ passport copies.
For a free zone license, all you need is a “certificate of continuity of existence,” a copy of your trading license, and, if applicable, a “no objectionable agreement.”
If a corporation is having trouble arranging these documents on time, they can get assistance from prominent trade consultants such as Trade License Company for successful completion of these paperwork with professional vision.
Even the government has now aided this process with the use of cutting-edge technology. You may now submit all of these documents online while sitting on your couch, sipping coffee. The only thing that matters is that the document is submitted correctly and on time.
To summarize everything, let’s just go over the relevant documents one more time.
For the Mainland
- Proven tenancy contract
- BR/1 Form
- Photocopies of the trade license and the passport of the owners
For the Free Zone
- Continuity certificate
- A copy of the trade license
- If necessary, a certificate of no objection
Procedure and Method for Trade License Dubai Fees
After we’ve completed our paperwork, we’ll proceed to the last stage, where we will pay costs for our entire submission. A regular license renewal can cost anywhere from AED 800 to AED 15000, depending on the situation, need and condition.
You will receive a payment voucher once you have completed your application; pay according to the receipt to receive your license renewal. Furthermore, if you go to the website to pay online, then you must submit accurate information to avoid rejection.
Also, be sure that any changes to your name, address, or anything else must be made before submitting your renewal application.
Are You Looking for a Trade License Renewal in Dubai?
The renewal procedure is influenced by a number of factors, including the type of business, its size, any additional permissions required, and any changes in government policy. It may appear straightforward, but it is a complicated process that sometimes necessitates the assistance of market specialists according to the Dubai Economic Department.
Furthermore, the payment process and dealing with authorities necessitate time and intricacy, which can only be provided by reputable business consulting firms like TLC. The Trade License Company provides cost-effective packages that include all aspects of your business legality, including company formation, license registration, trade renewal, visa application, and any other legal authority required for a trade license in the UAE.
