License Renewal Process
Step-by-Step Guide to Renew a Trade License
If you are running a business in the UAE, you must know the licensing process. Whether you are dealing in goods, services, or anything else, a trade license or business license is an essential document for any business to function legally in the United Arab Emirates. However, obtaining and retaining a license is not a onetime process but a continuous one. It has to be renewed as and when required as per the law of UAE, failing which can invite severe penalties. The penalties can range from fines to black-listing and even complete shutdown of your company. Here, at OBK Business Centre, we ensure your license renewal process progresses without any difficulty. We not only remind you about your renewal time, but we also collaborate with all concerned authorities to keep you fully licensed and remain operational without any obstacle. If you are not familiar with the process or want to find out the most recent updates, the below detail is a step by step guide for trade license renewal in Dubai, UAE.
Who Should Renew a Trade License in Dubai?
To know when your license renewal date is, you can check the original license paperwork, or you can also find it out from your business setup consultant or check the status of your license online from the government website. If you are a little late, do not panic, as there is a grace period allowed with renewals if you are about to process your application.
What is the Trade License Renewal Grace Period?
The grace period for mainland license renewals in Dubai is 30 days after the license expiry date. If you fail to renew your license within this period, you will be liable for penalties and fines, starting from AED 250, which can rise to thousands of dirhams if you continue to ignore them.
How to Renew my Company License?
Whether you are a mainland or a free zone company, the process for renewing your license is mostly the same. The only notable difference is the authority that issues your license renewal. If you are a Dubai mainland company, your license will be renewed by the Department of Economic Development (DED), and if you are a free zone company, you will have to make your renewal application to the concerned free zone authority.
The mainland license renewal process requires these simple steps:1. Keep Your Documents In Order
You need to submit an attested tenancy agreement. It must be valid for at least one month from the date of your application. Also, keep a typed form known as a BR/1 ready for submission.2. Draft a Renewal Application
Next, you will have to submit your BR/1 form and tenancy contract along with a photocopy of your trade license and passport photocopies for all business partners. Again, you can submit these documents online.3. Make Payments
After you have submitted your application, you will get a payment voucher. Make sure you have made the payment as soon as you receive the payment voucher. Soon after, you will get your renewed trade license.
Necessary Documents for Trade License Renewal
Following documents are necessary to renew a trade license:--
- Typed renewal application form
- Attested copy of the valid tenancy contract
- BR/1 form
- Photocopy of latest trade license
- Passport photocopies of all business partners (if any)
Documents for Free Zone Trade License Renewal:-
Is Ejari mandatory for Trade License Renewal?
Yes, Ejari is mandatory for the license renewal process. You should get your tenancy agreement attested by the Real Estate Regulatory Authority. If you try to renew your license without Ejari attested documentation, your application will be rejected, and you may also be fined.
What are the Trade License Renewal Fees in UAE?
The cost of trade license renewal in the UAE depends on various factors that include your business setup type, location, activities, business size, jurisdiction, and many more. Besides, your license type for additional approvals plays a significant role in the final price of license renewal.
Need Help to Renew Your Trade License?
Renewing your trade license is not very complicated. However, if you find it overly complex, you should not hesitate to consult us at OBK Business Centre directly. You can obtain prior knowledge of the process to avoid any fraud. Moreover, make sure your license renewal application has no mistakes at the time of submission. It is a good idea to consult a company formation specialist like us, OBK Business Centre when renewing your trade license for a smooth and hassle-free process.