Company License Renewal Dubai
As a foreign investor and a business owner, you are concerned about the procedure of company license renewal in Dubai. With its booming economy, flexible trade regulations, favorable location, and friendly market, Dubai is an outstanding investment option. As a result, hundreds of international investors flock to the city of gold with their business ideas spanning sectors, budgets, and niches in order to start and expand a lucrative firm.
You must have a valid license to conduct trade activities when you register your firm in Dubai. This license must be updated every year to ensure that you may sell your items throughout the UAE and the rest of the globe without breaking any rules.
The Department of Economic Development (DED) manages the company license renewal in Dubai. While renewing a DED license is a hard procedure, it must be completed methodically with the help of a reputable consulting firm.
It’s important to note that as a well-established firm in Dubai, your trade license can assist you in validating your company’s legal standing. As a result, following the right Dubai trade license renewal procedure assures that you will not face penalties, legal actions, or even a company suspension.
It’s a good idea to start the renewal procedure a few days before your trade license expires by learning about the application details and the cost of DED license renewal costs. This will allow you to maintain your legal standing and carry on with your business without interruption.
Documents Needed For Company Trade Licence Renewal In Dubai
It is advisable to have all of the necessary paperwork available before applying for a trade license renewal in Dubai to ensure a smooth filing process. A list of all needed documents, together with their descriptions, may be found below.
⇒ Tenancy Agreement
A tenancy contract is a vital document to have on hand when renewing your DED license in Dubai. In Dubai, your tenancy contract must be valid for at least one month. Furthermore, it must be validated by the Ejari. As a result, before filing for a renewal, you must first verify your lease contract. If you do not have this confirmed by the Ejari, your trade license might be denied owing to legal requirements.
⇒ Old Business license
You must offer your old trade license as a supporting document when applying for a trade license renewal in Dubai. Because it is not required to submit the original document, you should maintain a duplicate on hand. Intuitively, any failing to present a copy of your prior trade license will result in your renewal being denied.
⇒ Form BR/1
A BR/1 form must be completed in order to complete the Dubai trade license renewal application procedure. You must obtain the signatures of all company partners on this form since it starts the renewal procedure. Please send this form to the DED department for approval once you’ve completed it.
⇒ Copies of all business shareholders’ passports
Along with your application, you must include a photocopy of each company partner’s passport. This is required to present verification of the stakeholders in your company. If you are the only investor in your company, you will simply need to produce your passport to renew your DED license.
Procedure For Company License Renewal In Dubai
Renewal of your company license in Dubai protects you from facing legal action or a restriction on doing business in the UAE. As a result, you must be meticulous in executing the procedure.
- Gather and double-check your documents
The first step is to obtain the necessary paperwork for renewing your DED license. Make sure you have all of the essential copies and the originals on hand. Keep an eye on your tenancy contract since your license renewal will be denied if it doesn’t have at least a month’s validity left.
- Submit your application
The following step is to complete your BR/1 form and get it signed by all parties concerned. To renew your trade license in Dubai, you must attach all essential documents and submit them to the DED. The department will review your records and contact you within a few days of receiving them.
- Obtain Your Payment Token
The DED will provide you with a payment token after your Dubai trade license has been validated. You must pay the Dubai general trade license charge with this token.
- Renew your DED license by paying the renewal fees
To complete the renewal procedure, you must pay your trade license renewal cost in Dubai. Your trade license will be renewed after the DED department has verified the payment.
The Dubai DED offers three options for renewing a trade license: offline, online, or through an automatic renewal system. Despite DED’s efforts to make obtaining and renewing a commercial license as simple as possible, business people in Dubai may find it challenging to complete these procedures on time. Services such as business setup counseling and company formation advisory can help in this situation. If you have any questions about obtaining or company license renewal in Dubai, please contact us. We will gladly assist you.
Cost Of Company License Renewal In Dubai
The trade license renewal fee in Dubai is a government-imposed price for renewing your business’s trade license. It is usually determined by the sort of license you are seeking as well as your industry. The DED license renewal fee for the regular license, however, ranges from AED 8,000 to AED 15,000 + Service charge/Local Service agent charge.