Upon completion of paperwork and registering your company in Dubai, you will become eligible for a trade license. It is practically the legal document that will allow you to carry out the activities that your organization or company plans to
The city-state has strict laws regarding trade licenses which are enforced by the local government to ensure that the standard and quality of services remain the way that they are.
Should you set up your company in Dubai, you will have to renew your license every year for it to stay valid and for you to be able to carry on with your work. In the scenario that you delay renewing your trade license, a heavy fine, as well as the freezing of your company accounts, could occur. Therefore, we advise that you save yourself from the trouble and renew it on time.
The following are the documents and process for renewing your trade license in Dubai.
Documents Required for Trade License renewal
- Valid office tenancy contract
- Approved registration certificate from Ejari (Dubai Land Department)
- Completed (BR/1) form
- Photocopy of existing trade license
- Passport copies of all stakeholders
The Process of Trade License Renewal
Considering the fact that Dubai is a leading world trade destination, the government has made it easier for business owners to complete the process. They have provided two means of paying the fee; online and physically.
Keep in mind that if your documents are valid and the fee is paid on time, you shall receive your license on the spot.
With that said, the process does not seem too complicated and should not take much time either. However, if there are any discrepancies such as new stakeholders and a change of office location from the last time that you renewed the license; it may take a bit longer to renew as the government has to verify all the details before giving approval.
Online Portal Method
- Submit your personal and company documents to the DED (Department of Economic Development).
- Get approval from the DED.
- Create an online portal account.
- Apply for online trade license renewal.
- Pay the fees.
- Receive your renewed license.
Physical Renewal Method
- Collect all your relevant personal and business documents.
- Make sure that your office tenancy contract is valid, if not, extend that first.
- Submit the documents to the DED.
- Get approval from the DED.
- Get your license renewal voucher from them.
- Pay the trade license renewal fees.
- Collect your renewed license from the DED.
Furthermore, the above-mentioned process may differ depending on the type of company you have or the service/business that you provide. It is for this reason that we recommend that you enlist the services of a business set up consultant in Dubai to guide you. Their years of experience and familiarity with the legal paperwork will make your job easier and allow you to focus on other aspects of your business.