After filing all the necessary papers and registering your business in Dubai, you can apply for a trade license.
Practically speaking, it is the legal document that will allow you to engage in the activities that your business or organization intends to do.
To maintain the quality of services and standards, Dubai has strict laws governing trade licenses that the local government upholds.
If you want to establish your business in Dubai, you must renew your license yearly. In this way, you will be able to continue working in Dubai.
On the other hand, if you put off renewing your trade license, you risk a heavy fine and the freezing of your business’s funds. How bad it would be!
As a renowned business consultant agency, Bizstart advises you to renew the trade license on time and save yourself from this hassle.
Do you not know which crucial documents you need? Are you not familiar with the process of renewing your trade license?
If these two questions are your key concern, you have come to the right place. With that in mind, our professional business consultants have written this blog post so that you can easily renew your trade license in Dubai.
Documents needed for trade license renewal
If you want to file your application efficiently, you should have all the necessary documents before applying for the trade license.
These are the documents that should be in your file:
1. BR/1 form
First things first!
A BR/1 form must be completed in order to submit an application for a renewed Dubai trade license.
All company partners must sign this form because it is the first step in the renewal procedure. Please submit this completed form to the DED department for review.
2. Old trade license
You must provide your previous license as supporting documentation when requesting a trade license renewal in Dubai.
It would be best to have a copy of the old license in hand.
Your renewal application will be turned down if you forget to include a copy of your previous trade license.
3. Tenancy agreement
You should have a tenancy agreement for the DED license renewal in Dubai.
In Dubai, your tenancy agreement must be valid for at least one month. It must additionally receive Ejari confirmation.
For this reason, you must review your tenancy contract before requesting a renewal.
Your trade license will be rejected if you do not get it attested from the Ejari.
4. Copies of each business shareholder’s passport
Each company partner’s passport photocopy must be submitted together with your application.
It is important to show solid proof of your business’ shareholders.
If you are the sole shareholder in your company, you will only need to submit your passport only.
What is the procedure for renewing a trade license in Dubai?
This is the step-by-step process of trade license renewal in Dubai.
1. Gather and check your documentation
First, you need to gather all the necessary documents for a DED license renewal.
Make sure you have both the original and the copies of the documents.
Remember, you should keep an eye on your tenancy contract because your license renewal application will not be accepted if there is not at least one month of validity left in it.
2. File the application
The following step is to complete your BR/1 form and have it signed by all parties concerned.
When submitting your paperwork to the Department of Economic Development in Dubai to renew your trade license, make sure to attach all the necessary supporting documentation.
The department will review your documents after your submission and get in touch with you within a few days.
3. Get a payment token
The Department of Economic Development will issue you a payment token after verifying your Dubai trading license.
You must use this token to pay the price for the Dubai general trade license.
4. Pay the fees for DED license renewal
The last step in the renewal process is to pay your trade license renewal cost in Dubai.
You will now have finished all the processes necessary for your DED license renewal.
You will receive a renewal notice for your trade license once the DED department has confirmed the payment. That’s it!
As a foreign investor and business owner, you should renew your trade license in Dubai.
Most importantly, you need to renew it after every year. In this way, you can sell your products and services across the country without any hassle.
Undoubtedly, the DED license renewal process is challenging if you have zero prior experience. But worry not!
For a trade license in Dubai, you should have the following documents with you:
- BR/1 form
- Old trade license
- Tenancy agreement
- Copies of each business shareholder’s passport
Once you have arranged the above-mentioned documents, you should follow this step-by-step procedure:
- Verify your documentations
- Fill out your BR/1 form
- Collect your payment token
- Pay the trade license renewal fee
You can hire our professional business consultants in Dubai if you face any difficulty in the trade license application procedure.
They will help you renew your trade license effortlessly. So the wait is over now!
Hire our experienced business consultants and accomplish this vital task.