Licensing is the most important thing in all business markets. If you plan to run a business in any area, having a trade license is paramount. If your license has expired, you must apply for renewal on time, otherwise the company will impose a fine on you.
Dubai is a lucrative trading market for all kinds of products. Having a trading license in the Dubai Business Market is preferred. Here is a list of requirements about how to renew a trade license in Dubai.
Understand The Renewal Requirements
Before proceeding with the actual renewal process, it is important to understand the requirements for renewing a business license in Dubai. According to the Department of Economic Development (DED), all businesses in Dubai must renew their trading licenses annually. The renewal process must be completed before the expiry date of the current trade license to avoid penalties. Necessary documents are necessary to renew the license.
Contact To Service Centre
To renew the licence we should contact the online service or any centre. The online renewal process is time-saving. Also, there are many websites available that can renew your trade license quickly. In another case, we can renew our trade license by registered agent.
The Dubai Development Authority advises all free zone licensees to renew their trade licenses annually. You can contact to Dubai e-Government Portal, DED e-Services Portal, and on Dubai Now App.
Documents Requirement
Collect all the documents that are crucial for updates. Here is the list of documents:
- Valid tenancy contract
- Ejari certificate
- Br/1 form
- Passport copies of all business partners
- Passport and its photocopy
- Copy of Emirates ID
- Copy of company registration
Do Not Forget Expiry Date
If your licence date is near expiry you will start the process of renewal one to two months before. If you do not update your licence before time your business is going to lose. So keep in mind that you renew this annually. The UAE government could charge you a big penalty if you are late.
Submit Renewal Fee
The cost of renewing a trade license is around (AED 8,000 to AED 15,000) in Dubai. These approximate costs and can be according to your business activity and economic zone.
Conclusion
The policy of trade licenses in Dubai is straightforward. Through necessary documents and providing all the information for your license can make your work easier. Hope in this article the vision is clear about how to renew a trade license in Dubai.
