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With a 23% increase in the issuance of new trade licenses in the first half of 2023, Dubai is still on the rise as an internationally recognized destination for entrepreneurs and business enthusiasts aiming to expand their enterprises within the country’s borders. This legal cornerstone is very important in signifying the existence of a company in the UAE. As a business owner in Dubai, you need to familiarize yourself with all the steps involved in renewing your trade license. If you don’t, you are at risk of having your company license revoked, or even suspension of your business operations.
Complying with the annual trade license renewal process in Dubai may seem daunting at first. However, with the right guidance, it can turn out to be a smooth and easy process which can be completed in just few minutes either through the website or through a SMS. We’ll walk you through the process of renewing your trade license in this blog, making sure that your business operations remain compliant with the regulations in Dubai.
Before you start your trade license renewal process, it is important to ensure that your rental agreement is valid for at least one month and is accepted and approved by Ejari. Although this step is often overlooked by business owners, it can save you from potential complications down the road. If this requisite is not met with then the request for the renewal of the license can be denied by the authorities
Once you have verified your tenancy, it is time to fill out the BR/1 form and gather all the necessary documents to submit to the Department of Economic Development (DED) in Dubai. These documents usually include a copy of your existing trade license, passport copies of all your business partners, and any permits or approvals specific to your business activity. All the required documents should be filed with the form. The businesses can choose either offline or online methods to renew the licenses as per their convenience.
Once your application has been reviewed, DED will issue a payment voucher for the renewal fee. It’s important to note that the renewal fee is usually the same as the issuance fee. This voucher serves as confirmation that your application has been processed and the payment is pending. The entity can then make the payment as instructed on the site. The fee payment must be made within the time duration provided. The fees usually range from 8000 AED to 15000 AED. The fee may include the services charges and the charges of the local agent, always remember that these fees might get changed based on the regulations of the government and the rate might be different for the freezone entities based on their jurisdiction.
Once you have the payment voucher in hand, you can pay the renewal fee through one of the available payment methods. The DED facilitates this with convenient online payment options such as payment through the official website, giving business owners flexibility and convenience. Once payment is complete, you are one step closer to obtaining your renewed trade license.
With your payment duly processed, you will soon receive your renewed trade license which signifies that you can continue your business operations in Dubai.
Additionally, while renewing your trade license is certainly an important step, it’s equally important to make sure it’s renewed promptly to avoid any hiccups along the way. Failure to renew your license on time can result in penalties such as temporary suspension of your business license or termination of your business activities.
Below are some tips to ensure your trade license is renewed on time:
By following these guidelines, you can ensure your business is compliant with regulations and avoid potential consequences of non-renewal. To get insights about the penalties of non-renewal of your general trading license in dubai click here
To ensure the smooth functioning of your business in Dubai, it is critical to get your trade licence renewed on time, or else it will affect your business in many ways. Always keep a check on the tenancy agreements and the trade licence to avoid the chances of getting your business banned or blacklisted by the authorities.
The various consequences may include the following:
Feeling confused or unsure about the renewal process? Not anymore!
At CDA, we recognize the significance of promptly renewing your trade license. We provide comprehensive business setup and consulting services to help you navigate the trade license renewal process in Dubai with confidence. Our experienced consultants place a high value on effectiveness and timely completion to give our clients a hassle-free experience. From document collection to submission and follow-up, we handle every aspect of the renewal process efficiently and professionally.
So don’t wait until the last-minute contact our team today click here to renew your trade license and continue to pursue your dreams amid Dubai’s bustling business landscape.
