License renewal in Dubai | Company formation in Dubai - Marqueway
 

MARQUEWAYTrade license renewal in Dubai

Renew your trade license and keep the dice rolling for your business activities

Dubai is a city of infinite dreams and setting up a business in Dubai is a privilege that every business enthusiast should take a hold of. Dubai provides a lot of business opportunities and company formation in Dubai could lead business owners to the top of the success ladder. The top of the class infrastructure, liberal tax system, freedom for trade, numerous revenue streams etc makes Dubai an excellent investment platform. Throughout the years, hordes of investors have been rushing in to invest in various business fields spread across industries such as IT, construction, education, healthcare, cosmetics etc.

For investing in a business, first you need to register a business in Dubai. After registering the company, in order for you to take part in trading activities you need to apply for a valid license. Trade license renewal in Dubai is an important factor as it should be done every year. With regular license renewal in Dubai, you can do all your trading activities without any hindrance.If the trade license is not renewed on time, it can lead to repercussions such as penalties, ban on business, blacklisting, legal proceedings or other related issues.

Trade license renewal in Dubai is under the supervision of Department of Economic Development (DED)and each emirate has its own processes and procedures. License renewal Dubai can sometimes be a tricky process and it is always best to get the assistance of the best business setup companies in Dubai, like Marqueway. It is always a good habit to renew your license some days before the expiry date. This practice will help you to be on the safer side and run your business in a tension free manner.

Before having in-depth knowledge about trade license, it is good to know that the license doesn’t allow any trade expect the ones that is mentioned in the permit. To carry out business in another country or region you need to get another license respective to that domain. Also, Trade license doesn’t give ownership of any property that the business owner has trade activities on. Trade license is a document that showcases the legality of your business. This being said, trade license is a very vital document in company formation in Dubai and it is also required for you to do timely trade license renewal in Dubai.

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Trade license renewal in dubai

Documents
required for trade license renewal in Dubai

Trade license as we know is a compulsory document to company formation in Dubai. It will always be easy to fill up the application if you have the required documents ready before the trade license renewal in Dubai process. The documents required are:
  • Tenancy contract

One of the key documents required for license renewal Dubai is the tenancy contract. The contract should have an existing validity of at least one month and it should be registered by the Ejari. If the attestation from Ejari is not on the license then the trade license application could get rejected due to legal norms.

  • BR/1 Form

This is a mandatory form that must be filled up to fulfil the license renewal in Dubai application process. The form must have signatures from all the business partners and should be submitted to the DED department.

  • Old Trade License

For Trade license renewal in Dubai, the second document that you need is the old trade license as a supporting document. It is not compulsory to present the original of the document, a copy would suffice. It is a very important document and without it your application will face rejection.

  • Photocopy of passport of all business partners

All the individuals involved in the business as a stakeholder should submit the photocopy of their respective passports along with the trade license renewal in Dubai application.

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There are two way you can approach trade license renewal in Dubai, offline as well as online. You can avail any one of these according to your convenience. DED ultimately has the final word irrespective of the modus operandi of the application. With the help of a business setup companies in Dubai like Marqueway business setup service, the application process will just feel like a cake walk and your trade license renewal in Dubai will be done with ease, year after year.

  • Commercial License

This is also called general trading license or business license. Commercial License is the commonly issued license for company formation in Dubai. This license type relates to businesses indulged in commercial activities or trade activities in Dubai, UAE. These activities mainly include importing, exporting etc. By having this license, the business can avail certain benefits like:

  • Perform up to 10 commercial or trading affairs
  • Apply residence visa for employees and company management
  • Eases the process of opening a bank account
  • Professional License 

If you are professional with a particular area of expertise then this license is for you. This type of license helps skilled professionals to setup a business in Dubai relating to their field of choice. This license is mainly granted to businesses that are service oriented in nature like healthcare and medical services, accounting, education, beauty salons, management services, IT services, law firms and so much more. It is better to seek help of a business setup consultant in Dubai like Marqueway business setup services as sometimes a business activity could fall under the bracket of both commercial and professional. Top business setup companies in Dubai will guide you through each step and alleviate all confusions of this sort.

Benefits of this professional license in Dubai are:

  • Visa for employees
  • Business activities can get fixed annual fees
  • Suitable for skilled professionals
  • Industrial License

Businesses that are involved in the production and manufacturing of new products from natural or raw materials are mainly granted the industrial license. Business activities like product manufacturing, food industries, textiles, equipment and engine manufacturing etc. are eligible for this license. The most important thing business owners should remember before applying for this license is to have physical office, warehouse or industrial complex in Dubai.

Benefits of industrial license in Dubai:

  • Acquire land with subsidised rate
  • Discounted rates for water, electricity and other essential items
  • If the product is poised to improve the national economy or destined for national consumption then the government will support your company.
  • Tourism License

Travel and tourism industry is a business sector that is going to boom infinitely and the prerequisite for tourism company formation in Dubai is a tourism license. Any activity related to tourism like vacation homes or apartment rentals, outbound and inbound tour operations, travel agencies etc are eligible for tourism license. This license is issue by the Department of tourism and Commerce management (DTCM) and Department of Economic development (DED).

Benefits of tourism license in Dubai:

  • New regulation reduced the amount of initial investment for your tourism company
  • Stimulate the company’s work in the tourism sector inside and outside the emirate
  • Organize tours that are guided and planned

FAQ's

Frequently Asked Questions on UAE Company Formation
How many types of trade licenses are there in Dubai?

There are mainly four types of trade licenses in Dubai. They are:

  • Commercial license
  • Professional license
  • Industrial license
  • Tourism license
Is trade license mandatory in Dubai?

Acquiring a trade license is a very vital part of company formation in Dubai. Its this trade license that allows you to conduct different business activities throughout Dubai.

How do I renew my trade license in UAE?

There are 2 way you can apply for your trade license renewal, online and offline. Either way DED is the authority that governs over the application process. What you need to do is:

  • Submit the required documents like tenancy agreement, previous trade license, BR/1 form etc
  • Apply for trade license
  • Pay the license renewal fee
How much does it cost to renew a trade license in Dubai?

It costs between AED 8000 and AED 15000 for trade license renewal in Dubai. It will vary depending upon the location, type of business activity and the sector the business is based on.

How can you set up a business in Dubai?

If the license is not renewed on time, there will be a penalty charge of AED 250 and if a business is found without valid licenses then they will be fined an amount of AED 500. The validity of trade license if 1 year and it is highly recommended to renew your license days before the expiry date.

What are the Documents Required for Dubai Trade License Renewal?

The documents required for trade license renewal in Dubai are:

  • Tenancy contract
  • Old trade license
  • Br/1 form
  • Copies of business owner’s passport

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Copyright by Marqueway