For businesspeople living their dream life in Dubai, it is imperative to own a business license. However, this dream life comes with a price and an expiration date. This is because Dubai has strict requirements for business owners, and having a business license is one of them. For that matter, the trade license renewal Dubai offers has become a very important topic to know about.
In this article, we show you every detail you need to know about the trade license renewal Dubai process. Additionally, we will provide you with relevant information about the trade license renewal Dubai fees and prices for your business. We will discuss:
- How often do I need to renew my license?
- What if I am past the renewal date?
- Can I get a renewal extension period?
- How can I renew my trade license?
- What documents do I need to have in order to renew my trade license?
- Are there any additional pricing or fees to get my trade license renewal Dubai?
- Why choose Connect Zone to help you in the renewal process?
How often should I do Trade License renewal?
Knowing when to get a trade license renewal is necessary for businesses in Dubai. In the UAE, where businesses need a license to operate, knowing about the trade license renewal Dubai process is significantly important. Additionally, per Emirate and company type, the timeframe for the trade license renewal Dubai process can vary.
The timeframe for the trade license renewal Dubai does not vary depending on the company. This is because, in Dubai, trade licenses are only valid for one year, making annual renewals a regular procedure. That allows the authorities to make sure all businesses are operating under the right conditions and obeying all the policies.
Furthermore, the timeframe for the trade license renewal Dubai offers serves as a safety cushion for businesses that might want to cancel their operations due to bankruptcy or personal reasons. Additionally, this can benefit companies by giving them the freedom of being able to leave when they desire.
For that matter, keeping track of the expiration date for your license is important. In fact, there exists a tool available for that purpose, which is the online time tracker for trade license renewal Dubai offers. This allows businesses to check online how long they have to wait until the next trade license renewal Dubai process.
What if I am past the renewal date?
There are several sanctions to levy upon businesses operating with an expired license. However, these sanctions will depend on the company type and how long they have been operating with an expired license. From blacklisting to banning a company owner from the emirate, the severity of the punishment can vary.
The UAE is known for its business-friendly policies, however, not complying with these policies can warrant several sanctions. Having a trade license is essential for businesses in Dubai, and running with an expired license is considered a felony. Furthermore, depending on the verdict, the authorities can decide whether to apply the sanction to the company or its owners.
By doing so, they can ensure the owners will not just go and establish their company in another emirate. Additionally, an expedient is opened to prevent the company and its owners from ever reopening in the UAE. This is a precaution taken to avoid a possible reopening under another company or another name. At the same time, it prevents businesspersons from trying to get a new business registration.
On the other hand, minor sanctions can very much vary as well. These will depend on the reasons for not renewing your trade license. The minor punishments for trade license renewal Dubai gives are usually in favor of the company. Usually by holding back the company’s activities until getting into the trade license renewal Dubai process, and applying punishments of the same fashion.
Here is a list of other sanctions that might be of your interest:
- Blacklisting and prohibition to get a new business registration.
- Company closure and prohibiting reopening.
- Company bans, ranging from profit bans to operative bans.
- Temporally pausing the company’s activities.
- Holding the company’s profits.
- Temporally pausing the shareholder’s profits from the company.
- Holding back activities related to the shareholders.
Can I get a renewal extension period?
Numerous understandable reasons can prevent a company from renewing on time. Additionally, the UAE as we know is a country that avidly promotes beneficial policies for businesses. Therefore, it is not surprising that there is a possibility of postponing your trade license renewal process.
Despite there not existing an actual trade license renewal Dubai extension, there is another option. We are happy to inform you that there is a grace period for businesses past their renewal date. This grace period lasts for about thirty days after your trade license expiration. Moreover, the purpose of it is to give businesses time to renew their license before considering sanctions.
However, regarding the idea above, there are plenty of understandable reasons for businesses not to renew on time. Therefore, if you are already past your trade license renewal Dubai grace period, there is still room for you. As trade licenses vary from company to company, the reasons not to renew on time can vary as well. Nevertheless, it is important to try to get your trade license renewal Dubai process over as soon as you have the chance.
How can I renew my trade license?
The trade license renewal Dubai process can be quite tedious and tiresome. There are several factors to take into consideration when talking about the trade license renewal Dubai process. These factors depend on the type of trade license you are renewing and the type of company you have.
The trade license Dubai process is the same regardless of location; however, there are different organisms in charge of the process. These organisms for trade license renewal Dubai offers are largely involved in the trade license process. Depending on your company’s location, the organism responsible for the renewal process can change, nevertheless, the process is the same.
Here are the steps you must take to renew your license:
Document clearing is the act of getting the documentation you need beforehand in order to get a specific registration. For businesses looking forward to getting the trade license process just right, this means organizing the right documentation. Furthermore, document clearing ensures that all documents you have to send are free of error.
Submitting a document with the wrong information for your trade license renewal process can warrant a penalty. For that reason, here at Connect Zone, we want to provide you with the best document clearing services you could ever get. With over twenty years of experience, our team of professionals will give you the assistance you need during this process.
Apply to get your license renewal
After organizing your documentation, it is necessary to apply for your trade license renewal to the DED. The DED (Department of Economic Development) is the go-to organization to get your license renewed. This is to say that the DED is responsible for revising and making sure all your documentation is error-free and giving the green light to go forward.
Make the renewal payment
Once you have applied for your trade license renewal Dubai’s DED will provide you with a payment voucher. This payment voucher is a document that allows you to pay the trade license fees. The trade license renewal fees can vary depending on the individual’s requirements and specific licenses. The DED only issues your document once you make the payment so make sure to send the payment back with the payment voucher.
What documents do I need to have in order to renew my trade license?
Trade licenses are necessary for companies operating in the UAE. Therefore, issuing one for your business is a requirement. There are a few types of business licenses, and each of them fulfills a type of company’s needs. Furthermore, the documents you will need to provide for your trade license renewal process can change depending on the type of company you are running.
Additionally, there are numerous different permissions you need to get in order to get your trade license. Therefore, you might need to renew these permits before getting into the trade license renewal Dubai has to offer. Besides, this is the reason why document-clearing services are so important.
Here at Connect Zone, we offer you the most high-quality document clearing services you can get. With more than twenty years of experience, our team of knowledgeable professionals can give you the customized assistance you need. Furthermore, our services can ensure you are providing the right documents with the right information in them, so you can get the trade license process as easy as possible. Here are some of those documents:
Get your Ejari registration
The Ejari is an online organization in charge of holding all information regarding tenancy and land details. Besides, the purpose of this organization is to have all details regarding businesses locations and the information of the land they reside in. It is imperative for businesses to have a tenancy approved by the Ejari organization.
Validated tenancy contract
Once you have an Ejari registration approval, it is necessary to have a tenancy contract approved by the Ejari organization. A tenancy contract is a written agreement between the property owner and the person occupying the land. Thereby, for companies established in a land they do not own, it is imperative to have this document.
However, to start the trade license renewal Dubai process, it is important to have a valid tenancy contract. Besides, this contract should still have at least one month of validation before renewing your license. If your tenancy contract does not meet these requirements, your trade license renewal Dubai application might fall through.
For that reason, Connect Zone offers you the help you need to get what you want. Connect Zone is the tool you need to have in order to get started with your Trade license renewal. Not only do we offer you the most up-to-date services and information you need, but also, our team of experienced professionals will guide you through the entire process making sure you are going over the many hurdles you might find along the way.
An old trade license copy
Additionally, you will need to provide a copy of an old trade license; this ensures your company’s information is correct. Besides, it saves you and the competent authorities time looking for the information you already have.
License renewal BR/1 form
To start the trade license renewal Dubai process, it is necessary to fill the BR/1 form. This document needs to include all business partners’ and shareholders’ signatures. This is to make sure all business partners and shareholders are on the same page with the renewal process.
Are there any additional pricing or fees to get my trade license renewed?
Many factors can affect the trade license fees for your company. Among these factors, we can find variants like the scale of your company, your company’s setup type, the license type you hold, and the additional approvals your company has.
Normally, the trade license fees oscillate between AED 8.000,00 and AED 15.000,00 to get a standard license renewal. However, the trade license renewal fees vary depending on your company’s specific needs, and it might be difficult to cover all those points before the renewal date.
Why choose Connect Zone to help you in the renewal process?
As you can see, there are a few hurdles to go over during the trade license process. For that reason, here at Connect Zone, we want to help you achieve your goal of renewing your license. We have a team comprised of fully trained and experienced professionals on the renewal process. With over twenty years of experience, we assure you we have the best services and most qualified experts.
If you are interested in knowing more about us and what we can do for you, you can phone us at + 1 (971) 4331-6688. However, if you are more comfortable getting the information via email, you can email us at firstname.lastname@example.org. Regardless of the communication passage you take, one of our representatives will answer you and kindly respond to all your inquiries.