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In UAE it’s essential to renew your trade license before it expires. There is a penalty for every day the trade license is not renewed. Failure to renew your trade license will result in a ban on all licenses held by the share holders, freezing all of their business activities.
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Steps To Renew A Trade License In UAE
A trade license is one of the most important requirements for doing business in Dubai. Getting a business license renewed involves a lot of documents processed. Also, renewing a business trade license could be a long process if you are not familiar with it. Delay in filing a trade license renewal levies penalty, or worse, a ban to the business license, freezing all the business activities. There are three kinds of licenses issued by the Department of Economic Development Dubai.
- The commercial license
- The industrial license
- Professional license
Step 1 – Have a valid tenancy contract
The first thing one needs to ensure is that the firm’s tenancy contract should have a validity of at least 1 month and it should be attested by ejari. If the tenancy contract does not have a validity of at least a month, the associated license cannot be applied for renewal.
Step 2 – Apply for license renewal
Doing business in Dubai needs approval from concerned authorities in order to renewed their business license. Apply for license renewal at the DED, along with all the required documents. Here is a list of all the documents required for the purpose of trade license renewal:
- A typed BR/1 form
- Ejari Registration Certificate and a photocopy of Tenancy Contract
- Photocopy of the current business trade license
- Passport photocopies of all the business partners
Step 3 – Make the payment
After submitting the application, the DED shall allot a payment voucher. Once you receive the voucher, proceed to the payment procedure. Immediately after making the payment you will receive your renewed license from the channel