The following three actions are essential for renewing a trade license in Dubai:

1. Ensure that your lease is still in effect.

This is the first stage in renewing a Dubai trade license. You must make sure that your firm or business has a lease that is in force (valid for at least one month). Ejari's attestation is required for the tenancy contract to be accurate. You cannot begin the process of renewing your Dubai business license if your rental agreement doesn't fit these requirements.

2. Submit a trade license renewal application

Once you have confirmed that your tenancy paperwork is in order, you must proceed to the next stage of company license renewal—getting clearance from the relevant authorities and going through with the procedure of renewing the business license.

Online and in-person options are available for this. The Department of Economic Development (DED) is where you must apply to renew your Dubai trade license and provide all the necessary paperwork.

3. Make license renewal payments.

The DED will give you a payment voucher after receiving your application and the required paperwork. You will receive your payment voucher in three to four business days if the documentation you submitted is complete and accurate. Once you have the voucher, you must start the payment process. As soon as you make the payment, the DED will send you your renewed license.

RENEWALS OF COMPANY LICENSES IN DUBAI

Depending on your business activity, obtaining licenses and renewing them are not simple processes. It requires effort, patience, and a ton of time-consuming paperwork. To prevent legal repercussions like the suspension of investor visas, bank account freezes, and no renewals on employee visas, each license issuing authority only issues licenses for a year at a time. The license must be renewed annually. Additionally, one wouldn't be able to import or export with a license that was about to expire, further crippling business.

A gateway for greater regulatory and constructive facilities is opened by the diversity of licenses based on diverse industries and professions. Trading operations can be done with the help of commercial permits, but manufacturing requires an industrial license. Professional licenses are necessary for professional practices. In addition, the UAE offers exhilarating experiences to its visitors with its adventurous activities, gigantic shopping malls, stunning theme parks, and perfect infrastructure, showcasing an incredible skyline, making it a tourist hub and the dreamland for many.

At Eidad & Enjaz, we always help our clients renew their business licenses in Dubai on schedule. To prevent last-minute panics about legal repercussions and penalties, we also issue notifications for the same well in advance of the license expiration.

Eidad & Enjaz will take every precaution to prevent any delays in the renewal of your business license in Dubai, saving you money on fines and allowing you to concentrate on other crucial business operations.

What does a trade license renewal in Dubai cost?

Depending on the type of business license and jurisdiction, the price of a business license renewal in Dubai can range from AED 8000 to AED 13000. You may reduce the cost of business license renewal and efficiently manage the process by consulting with Dubai's top business setup advisors.

Trade licenses in Dubai are given to companies for a year and must be renewed yearly, as was previously noted. If you don't renew your business license, a late fee is implied. It would be advantageous for you to complete the process on time if you were aware of all the document requirements for trade license renewal.The following is a list of all the paperwork needed in Dubai and the United Arab Emirates to renew a commercial license:Form BR/1 typed A copy of your active, current rental agreement EJARI registration certificate copy Latest business trade license copy a copy of each company partner's passport.

Please be aware that these documents are required for Dubai business license renewals both offline and online.

Documents needed for the renewal of a trade license in Dubai

Dubai's trade license renewal procedure in detail

Let's learn how to renew a trade license in Dubai because it is advised to do so before it expires in order to avoid problems. Here, we'll go over three crucial procedures for renewing a trade license.

What is the minimum/maximum number of partners allowed under each legal form's license?

An individual is the sole owner of a sole proprietorship business.

A limited liability company (LLC) can have as few as 2 partners and as many as 50.

Two or more partners are required for civil works and partnership companies.

At least three founders are necessary for a private joint-stock company.

They make their shares available for subscription in the case of a public joint-stock business. They are thus allowed to have an infinite number of partners.

What happens if I fail to renew my business license in Dubai?

Before it expires, a company's trade license must be renewed; if it is not renewed in time, it must be revoked by the time it does. If the license is not renewed or cancelled, then

Every month, the corporation must pay a $200 AED fine to the Department of Economic Development (DED).

When a bank closes a business's corporate bank account, the owner is unable to access the funds there.

The company's custom code will be suspended by Dubai customs if it is a trading company. The customer is thus unable to import or export any goods under that situation.

Under the company, the Labor and Immigration Department will no longer grant visas.

Concerns About Renewing Business Licenses

Is it possible for me to operate all of my businesses in Dubai under one company license?

The answer is no. Depending on the kind of business they plan to run in the UAE, investors must obtain a license. For instance, obtaining a restaurant license is a need if you wish to operate one. A trade license is necessary if you plan to engage in trading activities. Manufacturing licenses must be issued, for example, if you engage in manufacturing. Keep in mind that in order to trade in different products in Dubai, you must obtain a general trading license.

In the UAE, do I need to renew my company's trade license annually?

In the UAE, a corporation trade license must be renewed annually. The Department of Economic Development or the appropriate free trade zone should receive payment for the trade license renewal fees.

What costs are involved in renewing my business' trade license in the UAE?

In the UAE, is it possible to engage in all economic operations with a general trading license?

In the UAE, trading different goods and products listed in the Trade Category of the Activity Classification Guidebook is permitted with a general trading license. However, doing operations that need outside consent from governmental bodies must wait until those approvals have been obtained. Specific departments must approve some types of trading, such as:

Dubai Police's approval for gold trade.

The Dubai Narcotics Department has approved the trading of chemicals.

Dubai Municipality's clearance of food products.

The cost of a company license renewal depends on the kind of operations, the number of workers, and the annual rent for the office, shop, or warehouse.

The cost of renewing a professional business license is about AED 8,000.

The cost to renew a commercial business license is around AED 12,000/-.

The cost to renew an industrial business license is around AED 15,000/-.

You can get help from Eidad & Enjaz renewing your business's trade licenses in the UAE. For a free evaluation to renew your business license in the UAE, get in touch with us.