Renew Trade License Dubai, UAE: 2021 Step-by-Step Guide
If you’re running a business in the UAE, you’ll already be familiar with the licensing process. All businesses out here require a license, whether you’re trading in goods, offering services, or anything else in between.
However, obtaining and holding a license is not a one time deal. Trade licenses must be renewed, and the penalties for failing to do so can be severe, ranging from fines to blacklisting, and company closure.
But there’s no need to worry. Business Incorporation Zone (BIZ) is on hand to make sure your license renewal always passes by without a hitch. We’ll remind you when your renewal is due, liaise with all relevant bodies, and ensure you remain fully licensed to run your business.
If you’re new to the process, or just refreshing your memory, below is a simple guide to trade license renewal in Dubai, UAE.
Do I need to renew my trade license in Dubai?
You can find your renewal date in your original license paperwork or by checking with your company setup agent. It is also possible to check the status of your license online. Don’t worry if you are a little late, as there is an allowed grace period with renewals, provided you are in the process of making your application.
Dubai Trade License renewal grace period
The grace period for Dubai mainland license renewals is 30 days. After this date, you are liable for fines, starting from AED 250 but quickly rising into the thousands of dirhams.
How to check company status in Dubai
If you’re unsure of your renewal date, you can check the status of your license on the UAE government website.
How do I renew my company license in Dubai?
The process for renewing your license is largely the same whether you are a mainland or free zone business. The only significant difference concerns the authority that issues your renewal.
If you are a Dubai mainland business, this will be the Department of Economic Development (DED). If you are working from a free zone, you should make your renewal application to the relevant free zone body.
Here, we’ll look at the mainland process which requires just three simple steps.
1. Ensure your documents are in order
Mainland companies must submit an attested tenancy contract in order to renew a trade license. It must be valid for at least one month from the date of your application. You will also need a typed form known as a BR/1.
2. Make your renewal application
Next, you will need to submit your BR/1 form and tenancy agreement, along with a photocopy of your trade license and passport photocopies for all business partners. These documents can be submitted online.
3. Pay for your renewal
Once you have submitted your renewal application, you will receive a payment voucher. Be sure to pay upon receipt. As soon as you have paid, you will receive your renewed license.
Documents required to renew trade license in Dubai
To recap, you will need the following documents to renew a trade license in Dubai.
- Attested tenancy agreement
- BR/1 form
- Photocopy of trade license
- Passport photocopies of all business partners
Free zone businesses may also be required to provide the following:
- No Objection Certificate (if applicable)
- Certificate of Continuity of Existence or Good Standing or Current Trade Licence in case of Branch of Onshore UAE Company
Do I need Ejari for trade license renewal?
Yes, Ejari is a mandatory part of the license renewal process. Your tenancy contract must be attested by Real Estate Regulatory Authority. If you attempt to renew without Ejari attested documentation, your application is likely to be rejected and you may receive a fine.
Trade License Renewal Fees in Dubai
The cost of your UAE trade license renewal will depend on multiple factors, including your setup type, and the size and sector of your business. The type of license you hold and whether or not you require additional approvals can all also have a significant bearing on the price you’ll pay.
How much does it cost to renew a trade license in Dubai?
Typically, you should expect to pay in the region of AED 8,000 to AED 15,000 for a standard license renewal. To get a detailed quote, based on your individual requirements, get in touch with the team at BIZ.
Are you ready to renew your Dubai trade license?
Hopefully, this guide has made clear that if you have the right knowledge, renewing your trade license doesn’t have to be overly complex.
That being said, it does require a level of prior knowledge of the process. What’s more, it is important to note that the process is only straightforward if your license renewal application is in order and free from errors at the time of submission.
To help you to ensure that this is the case, it’s a good idea to work with a company formation specialist such as Business Incorporation Zone when renewing your trade license.
We are a team of company registration professionals who are passionate about bringing the dreams of aspiring entrepreneurs and SMEs to life.
As well as handling your license renewal, BIZ can also assist with the opening of corporate bank accounts and advise on the most appropriate financial institution to suit your specific needs.
We also offer visa and immigration services and can handle all government formalities, permissions, work permits and visa applications that are required to trade in the UAE.
In short, our experts can renew your license on your behalf, make your visa applications, and take care of all the necessary admin – leaving you free to focus on running your business.