24 Jun Documents Required for Trade License Renewal in Dubai
Trade License Renewal in Dubai
The process of trade license renewal in Dubai is something that you care about as a foreign investor and a business owner. Dubai makes for an excellent investment opportunity with its burgeoning economy, liberal trade rules, advantageous location, and welcoming market. Owing to this, thousands of foreign investors with their business ideas spanning industries, budgets, and niches come to the city of gold to establish and grow a profitable business.
As you register for your business in Dubai, you must have a valid license to conduct trade operations. This license must be renewed every year to make sure you can seamlessly sell your products across the UAE and the world without violating any norms.
The trade license renewal in UAE is managed by the Department of Economic Development (DED). While DED license renewal is a complicated process, it must be done diligently with the assistance of a good consultation agency.
It is imperative to remember that as an established enterprise in Dubai, your trade license helps you verify the legal status of your business. Therefore, the proper Dubai trade license renewal procedure ensures that you are not charged with penalties, legal proceedings, or even a ban for your business.
A good practice is to start the renewal process by understanding the application details and the cost of DED license renewal fees a few days before the expiration of your trade license. This will help you stay on track with your legal status and continue with your business without any hindrances. In this blog, you will get to know all the things necessary to renew your license!
What are the Documents Required for Dubai Trade License Renewal?
For a hassle-free filing of your application, it would be best to have all the relevant documents ready before you apply for the trade license renewal in Dubai. Below is a list of all the required documents and their details.
1. Tenancy Contract
An important document to keep handy for the DED license renewal in Dubai is a tenancy contract. Your tenancy contract must have the validity of at least one month in Dubai. Additionally, it must also be confirmed by the Ejari. For this reason, you must first check your tenancy contract before applying for the renewal. If you fail to get this attested from the Ejari, your trade license might be rejected due to legal obligations.
2. Old Trade License
To apply for a trade license renewal in Dubai, you must present your old license as a supporting document. It’s not necessary to present the original document, which is why you must keep its copy handy. Intuitively, any failure in submitting a copy of your old trade license will lead to a rejection of your renewal.
3. BR/1 Form
A BR/1 form is a mandatory form that must be filled to carry out the Dubai trade license renewal application process. Since filling this form initiates your renewal process, you must have the signatures of all business partners on it. Once you fill this form, please submit it to the DED department for approval.
4. Copies of Passports of all Business Shareholders
You must submit the passport photocopy of each partner involved in your business along with your application. This is mandatory to show proof of the stakeholders involved in your business. In case you are the only stakeholder in your business, you will be required to submit only your passport for DED license renewal.
What is the Process of Trade License Renewal in Dubai?
Trade license renewal in Dubai saves you from the likelihood of facing legal action or a ban on business in the UAE. That’s why you must carry out the process diligently.
1. Collect and Verify Your Documents
The first step is to gather the documents required for DED license renewal. Make sure you have the relevant copies as well as the original ones handy with you. Keep a check on your tenancy contract because if it doesn’t have at least a month’s validity remaining, your license renewal will not be approved.
2. File the Application
The next step is to fill your BR/1 form and get it signed by all the stakeholders involved. You must attach all the relevant documents and then submit them to the Department of Economic Development for trade license renewal in Dubai. Upon your submission, the department will verify your documents and reach out to you in a few days.
3. Obtain Your Payment Token
After your trade license in Dubai is verified, you will receive a payment token from the Department of Economic Development. You need to use this token to pay the Dubai general trading license fee.
4. Pay Your DED License Renewal Fees
The last step is to pay your trade license renewal fee in Dubai, to complete the renewal process. With this, you will have completed all the steps required for DED license renewal. Once the DED department verifies the payment, you will get your trade license renewed.
Dubai Trade License Renewal Fees 2023
The trade license renewal fee in Dubai is a charge levied by the government for the trade license renewal of your business. It usually depends on the type of license you’re applying for, along with your industry. However, for the standard license, the DED license renewal fee ranges from AED 8,000 to AED 15,000 plus Service charge/LocalService agent charge.
Trade License Renewal in Dubai for the Free Zone
If your business is located in the Free Zone, the process of Free Zone trade license renewal is slightly different. You might have to contact your free zone authority with your current trade license and a no-objection certification if applicable. else you can Shuraa business setup Indian branch for assistance