Overview of Trade License Renewal in Dubai
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 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.
Documents Required for the Trade License Renewal in Dubai
As mentioned earlier, trade licenses in Dubai are issued to businesses for one year and are subject to renewal annually. If you fail with company license renewal, a late fee implies. So, staying aware of all the document requirements for trade license renewal would be beneficial for you to complete the process on time.
Please note that these documents are needed for offline and online business license renewal in Dubai.
Each Step Process to Renew a Trade License in Dubai 2023
Let’s dive into understanding how to renew a trade license in Dubai, as renewal of a trade license before it expires is advisable to avoid complications. Here we are sharing three key steps that are important to renew a trade license.
The three critical steps for the renewal of the trade license in Dubai are:
Make Sure You Have a Valid Tenancy Contract
Apply for Trade License Renewal
Pay Your License Renewal Fees
How much does it cost to renew a trade license in Dubai?
The cost of business license renewal in Dubai ranges from AED 8000 – AED 13000; however, it may vary based on the type of business license and jurisdiction. Consulting with Dubai’s best business setup advisors will help you minimize the business license renewal costs and manage the process effectively.
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.
FAQs On Company License Renewals
No, you cannot. Investors must obtain their license based on the nature of the business in the UAE. For instance, a restaurant license must be issued if you want to run a restaurant. If you 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.
Yes, a company trade license must be renewed every year in UAE. The trade license renewal fees should be payable to the Department of Economic Development or the relevant free trade zone.
Company license renewal fees are contingent on the type of business activities, the number of employees, and the office/shop/warehouse’s annual rent.
- Professional business license renewal fee is approximately AED 8,000/-
- Commercial business license renewal fee is approximately AED 12,000/-
- Industrial business license renewal fee 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 to renew your business license in the UAE.
- A sole proprietorship company is owned by a single person only.
- The minimum number of partners for an LLC enterprise is 2 & the maximum number of partners is 50
- Civil works and partnership company requires two or more partners
- A private joint-stock company requires at least three founders
- In the case of a public joint-stock company, they offer their shares for a subscription. They, therefore, can have an unlimited number of partners.
Trading 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.
Company trade license must be renewed before the expiry of the license, or it must be cancelled by the end of the expiry of the trade license. If renewal or cancellation of the license is not made, then,
- The Department of Economic Development (DED) impose a fine of 200/- AED every month on the company
- Bank suspends the corporate bank account of the company, so in that case, the owner cannot access the fund in the bank
- If it is a trading company, then Dubai customs will suspend the custom code of the company. So, in that case, the customer cannot import or export any item.
- The Labour and Immigration Department will stop issuing visas under the company.