Trade Licence is one of the important requirements for doing business in Dubai. Setting up a business in Dubai is considered to be consumer friendly. But if you are not familiar with the procedures it will take a long time to renew the trade license. Trade license renewal in Dubai is very important as they will charge heavy fines, ban the business license or freeze all the business activities if it is delayed. Trade licenses should be renewed every year for convenient trade relations. The process of trade license renewal in Dubai is easy to get if you know the procedures well. You can grab your license within a very short time with our helping hand. With the help of a business consultant like us, there is no need to worry and will help you to find a low-cost business setup in Dubai. It will lead your company towards international relations and level up your standards.
Trade Licence in Dubai is issued by the Department of Economic Development. There are three kinds of licences that are issued by DED which are Commercial license, Industrial licence and Professional licence. Trade Licence Renewal in Dubai is easy and it will be renewed within a short time if you have a business consultant to take care Licence Whether you don’t have enough time to deal with procedures we will be there to help you out.
Steps for Trade Licence Renewal in Dubai
Trade Licence in Dubai will be valid for only one year. You must renew your licence every year to continue without any fine. You should start to renew the licence before one month of the expiry. If you didn’t renew your licence, you will have to pay 200 AED every month after the expiry. It is really important to monitor all the paperworks timely for a smooth running Business setup in UAE. Lets checkout the procedures of Trade Licence Renewal in Dubai in a short time.
Documents needed for the renewal
- Tenance Contract
You must have a valid tenancy contract of at least one month. Also make sure that Tenance Contract is attested by the Ejari. If you fail to check the validity and the details your trade licence will be cancelled. If the validity of the contract is corresponding with the trade licence, the applicant could renew both at the same time. Check all the details mentioned above. Any failure in attesting with the Ejari applicant can even get arrested.
- Old Trade Licence
Old Trade Licence should be submitted before applying for the Trade Licence in Dubai. Original copy is not needed for this process. Applicants could carry a copy of the Old Trade Licence for the procedure. Old Trade Licence is the proof for all the business operations of the company. In case you fail to submit the copy of the old trade licence, Trade Licence renewal in Dubai will be cancelled.
- BR/1 form
BR/1 form is mandatory to fill before applying for the Trade Licence in Dubai. After filling the form, applicants must get the sign of all the partners before submitting the copy. Form must be submitted to the DED department for the renewal of the trade licence. These processes are easy if you have a business consultant to help. Process will be done within a short time and the chance of cancellation is less. Setting up a business in Dubai is very easy considering other countries.
- Passport copies of all Business Partners
Each of the business partners should submit the copy of their passports before the DED department. If the business has not any partners, a passport copy of the owner will do. It is mandatory to submit the passport copy of all the stakeholders in front of DED if you have partners.
These are the proofs you should carry for the renewal of your Trade Licence in Dubai. As you collect and recheck the details of the proofs the process will be short and easy. If you have any doubts regarding the renewal you can contact the business consultant for further details.
Further step is to carry original and photocopies of the Documents which you need to submit before the DED department. It is important to check the renewal date and confirmation of all the details to carry forward the company setup in Dubai.
Upon your submission of copy of Tenance contract and Old trade licence fill up the BR/1 form to the DED department. They will evaluate and check whether the details and documents which you have submitted are valid and up to date. Within a few days after the valuation they will reach out to you for confirmation.
Last and final step for the renewal process is fee payment. Once the payment is done you will get a payment token from the DED department. The amount for the trade licence renewal varies according to the type of licence you have applied for. It ranges from AED 8000 to AED 15,000. This is issued by the government for the service they provide you. The amount of local service and business consultants will add on to this. After all these processes are done your trade licence will be renewed within a short time.
Freezone trade renewal is slightly different. No objection certificate from the free zone authorities will be needed with the application. Your current trade licence should be submitted in order to get the NOC certificate from the authority.
The time period for all these procedures are very less if you seek service from us. We will help you verify and recheck all the documents and make it clear to submit. There is no chance of declining your documents when you have our back. Process will be short and clear. All the procedures will be monitored by our professionals till you get the licence from the authority. Now Trade Licence renewal in Dubai is not a long term process and there is nothing to worry about.