COMPANY LICENSE RENEWALS IN DUBAI
Acquiring licenses depending on your business activity and getting them renewed is no small task. It involves time, attention to detail, and a whole lot of tedious documentation. Each license issuing authority issues a license for one year only and the same has to be renewed every year to avoid legal implications like investor visa suspensions, bank account holdups, no renewals on employee visa. One would also be incapacitated to do import and export on an expired license further paralyzing business.
The diversification of licenses based on various businesses and professions creates a gateway for better regulatory and constructive facilities. Commercial licenses enable trading activities while manufacturing activities need an industrial license. Professional practices call for a professional license. And, there is the much sought-after tourism license as the UAE offers thrilling experiences to its tourists with its adventure activities, mega shopping malls, beautiful theme parks, and flawless infrastructure; boasting an awe-inspiring skyline, making it a tourist hub and the dreamland for many.
At Avyanco, we assist our customers with company license renewal in Dubai on time, without fail. Also, we send out reminders for the same well before the expiry of the license to avoid last-minute panics like legal implications and penalties.
Avyanco will thoroughly avoid any delay in all the process of business license renewal in Dubai so that you will not pay any fines and you can focus on other major business activities of your company.
FAQs on Company License Renewals
1. Can I have all my business activities under one business license in Dubai?
No, you cannot. Investors must obtain their license based on the nature of the business there are running in the UAE. For instance, if you want to run a restaurant, a restaurant license needs to be issued. If you’re are conducting trading activities, then a trading license will be required. If you’re into manufacturing, then a manufacturing license must be issued, and so on. Bear in mind that you must get a general trading license in Dubai if you want to trade in multiple products.
2. Do I have to renew my company trade license every year in UAE?
Yes, a company trade license must be renewed every year in UAE. The fees for company trade license renewal should be payable to the Department of Economic Development or relevant free trade zone.
3. What are the fees to renew my company trade license in the UAE?
Company trade license renewal fees are contingent on the type of business activities, number of employees, and the office/shop/warehouse’s annual rent.
- Professional business license renewal fees is approximately AED 8,000/-
- Commercial business license renewal fees is approximately AED 12,000/-
- Industrial business license renewal fees is approximately AED 15,000/-
Avyanco will assist you with the renewal of company trade licenses in the UAE. Contact us for a free assessment for the renewal of your business license in the UAE.
4. What is the minimum/maximum number of partners in the license for the different legal forms?
- A sole proprietorship company is owned by a single person only
- The minimum number of partners for LLC enterprise is 2 & the maximum number of partners is 50
- Civil works and partnership company requires 2 or more partners
- A private joint-stock company requires no less than 3 founders
- In the case of a public joint-stock company, they offer their shares for subscription. They, therefore, can have an unlimited number of partners.
5. Can all commercial activities be practiced under a general trading license in UAE?
Trading of various kinds of goods/products mentioned in the Trade Category of the Activity Classification Guidebook can be done under a general trading license in the UAE. However, activities requiring external approval from government authorities can only be undertaken after obtaining such approvals. Certain trading requires approvals from specific departments – i.e., includes gold trading approval from Dubai Police, Chemical trading approval from Dubai Narcotics Department, food items approval from Dubai Municipality.
6. How do I renew my company license in the UAE?
Any legal entity inside the United Arab Emirates should be renewed each year. You can renew your company license either online or offline. Offline renewal is done via authorized service centers listed on the DED website. Here are the steps for the DED license renewal process
- Ensure that your tenancy contract is valid
Before license renewal, ensure that the tenancy contracts for your rented properties have not expired and are still valid.
- Apply for license renewal
This is the next step in the company license renewal process in the UAE. You must submit your application for license renewal at the DED with all the necessary documents. The documents needed for license renewal include
- A typewritten BR/1 form
- Ejari Registration Certificate plus a copy of your tenancy contract
- Copy of your current business trade license
- Passport copies of all the business partners
- Pay for license renewal
After you submit your license renewal application, the DED will allot a payment voucher. Once you get the voucher, you must make the payment. After making the payment, you will receive your renewed license.
If you need more guidance about the company license renewal process in Dubai, the experts at Avyanco can help. Contact us now to book an appointment.
7. What if I don’t renew my trade license in Dubai?
Company trade license must be renewed before the expiry of the license or it must be canceled by end of the expiry of the trade license. If renewal or cancellation of the license is not done then,
- Department of Economic Development (DED) impose the fine of 200/- AED every month on the company
- Bank suspends the corporate bank account of the company so in that case owner cannot access the fund in the bank
- If it is a trading company then Dubai custom will suspend the custom code of the company. So in that case customer cannot import or export any item.
- Labour and Immigration department will stop issuing the visas under the company.
In case, an investor decides to change office, add or remove a partner or a manager change or change the company name then the licenses call for an amendment that have to be revised and procured from the respective license authority.
We are equipped to make it simple for you. From gathering all the required documents to submitting them and keeping a tight follow-up on renewal periods and changes if needed; Avyanco is distinguished in the business.