How to renew trade license in Dubai

Is your trade license near expiry, or is it set to expire soon?

Since the Department of Economic and Development in Dubai mandates the renewal of trade licenses annually, you might need to know the process and requirements you must prepare before it’s too late. As you know, there are penalties for failing to renew a trade license. Penalties may worsen, ranging from incurring fines of AED 250 per month to blacklisting and banning the company. Without your trade license, you cannot carry out any trading activity crucial for your business to function.

Worry not because IBG Consulting will guide you on how to renew a trade license in Dubai with the below information and procedures. We can serve as your local business consultants to help in completing these requirements and applying the procedures for you. 

To start with your renewal process journey, let us discuss the requirements that you need for this application.

Requirements for Trade License Renewal

We will mention the mandatory documents that you should have before proceeding with the application process. Suppose your trade license has come to its expiry date, and you have failed to renew beforehand. In that case, the Department of Economic and Development (DED) can grant you a 30 days grace period to process your trade license renewal. You can check your company status through the UAE government website or with your company setup agent.

Documents needed for business license renewal in Dubai or at the DED:

Ejari Certificate  - mandatory due to your tenancy contract attested by the Real Estate Regulatory Authority. Without Ejari, trade license applications may be revoked and can incur fines.
Typed BR/1 form - it is a license renewal form with the signature of existing partners. This form is needed to start the process and must be attached along with the other documents.
Photocopy of the current Trade License - application must include the old license in the attachments of other documents.
Business partner’s photocopy of passports - a requirement to show the stakeholders involved in your business. If there is none, you can submit your passport instead.

Other requirements for Freezone trade license renewal:

• Trade license copy or original document (depends upon the freezone)
• Audit reports
• P.O box confirmation renewal
• Passport photocopies of the shareholders
• Other documents required by the Freezone

Steps to Renew a Trade License

Mainland license renewal can be done in three easy steps. However, processes may differ from other Free zone areas. To guide you on how to renew your trade license in Dubai, here are the steps you can follow:

Compile necessary documents - Once you have settled all the requirements mentioned above, you are good to submit it with the DED to start your renewal process. Take note that the Ejari is essential, and it should be valid for at least one month from the date of your application since you cannot file for renewal without it.
 
Proceed with the application - After completion, you can submit your documents online or offline, depending on your convenience.  

Pay for your renewal application - After the renewal application is made, a payment voucher will be issued to you. Make sure to pay upon receipt. Right after the payment is made, you will receive your new license immediately. The cost for trade license renewal in Dubai will depend on your setup type and your business sector. Usually, standard license renewal can cost around AED 8,000 to AED 15,000.

How can IBG Consulting help?

In IBG, we do not let your trade license come to the point of its expiration. We help you renew your licenses on time every year without you having to worry. Since we provide such services, we are committed to being transparent in giving you updates regularly, and we will file all the necessary documents for you to avoid the hassle.

With IBG Consulting’s years of experience in the sector, we continue to build trust with our clients and provide quality service to our client’s needs. We are a team of professionals equipped enough to give you the best business solutions and service that will guide you to the business success that you dream of here in Dubai, UAE.

If you want to avail of our service, reach out to us or contact us for an initial consultation.