Business license renewal is an annual process every UAE company must complete in time to ensure that the business runs smoothly with a clean record. The renewal process involves submission of legal documents and payment of an annual fee to the Department of Economic Development (in case of Dubai mainland LLC (Limited Liability company) firms) or the respective Free Zone Authority (in the case of free zone companies), which approves a new tenure for companies in Dubai. Trade license can be renewed through Authorized Service Centers or with the help of Business Licensing Service providers.
- Through Authorized Service Centers
Authorized service centers are located in all districts of Dubai. This method involves submission of documents and annual fee by hand. The steps are as follows,
I. Tenancy Contract Validity
If your tenancy contract is valid until the next 3 months, you can draft your application for submission.
II. Application Submission
Submitting the application to DED in Dubai involves the tenancy contract, typed renewal form, EJARI Attestation, and photographs of all the business partners.
III. Get the Payment Voucher / Transaction Number
Once the documents have been submitted, the Department of Economic Development will provide a payment voucher or transaction number. The payment voucher must be kept safe until the license has been renewed.
IV. Making Payment
Use the payment voucher as reference to pay the business license renewal fees through your nearest authorized serviced center.
Any delay in payment can result in penalties to the concerned business. Companies can be imposed a monthly fine of AED 200 if the payment is made after the expiry date and continuation of business without trade license renewal can lead to the company being blacklisted by the respective authority. In such case, the company must seize all transactions and the visas and sponsors listed under the company name can be made null & void. The expansion of the business can also be restricted if the license renewal is not done within the stipulated time frame.
- Business Consultancy Agency
Business consultancy agencies are abundant in Dubai. Such agencies offer A-Z company formation solutions which include everything from trade license registration and on-time annual renewals with timely reminders, so the owner can focus on their business. To seek professional help, you can search for online reviews and get credible feedback from current company owners in UAE.
How can IBG Help?
As UAE’s trusted business consultancy agency, IBG Middle East provides professional assistance for companies seeking to renew their business licenses in fastest affordable mode available. Our Dubai trade license renewal procedures are designed to give customers prompt license delivery for all jurisdictions. Visit our website to learn more about our services.