Starting business in any country has specific requirements. The most important thing is the issuance of business license for this purpose. This also happens in Dubai and UAE as well. Any company that wants to start business in any part of Dubai needs to seek approval from relevant authorities by attaining business license. After getting this license, one can easily start business in the profitable market of Dubai.
But the duration of business license is not unlimited. These licenses are issued for specific time period according to the type of business. Before ending of the period of business license, it is mandatory for businesses to renew their license in order to continue business activity in Dubai. Though, a grace period is also available (after paying late fee) but it is better to renew license before ending date as it may take extra time due to emergence of several issues.
Like getting business license for first time, main authority required for the renewal process is also Dubai Department of Economic Development (DED). But in case of specific type of business activity, traders and entrepreneurs also require approval from other authorities. These authorities are Dubai Municipality (DM) in case of trade of health supplements, Ministry of Health for setting up private clinics, Road & Transport Authority Dubai for taxi service company and Food Safety Department in case of a restaurant.
An important condition required for renewal of business license is the tenancy contract of any company or firm. It is mandatory for these companies for having a valid tenancy contract before applying for renewal of business license. The validity should be of at least 1 month (but preferably of three months) while attestation from Ejari is also required.
Following are important steps that have to be taken for renewal of trade license in Dubai.
- The initial step is to submit application in the Dubai Department of Economic Development (DED). There is a separate department of trade license renewal in DED for this purpose. This application must be duly filled and accompanied by all relevant documents including tenancy contract, photographs of all business partners etc
- After receiving duly filled company renewal application, DED will handover transaction number (also known as payment voucher) to the applicant. This transaction number is used as a reference before getting renewal of license
- In the last step, the applicant will use this payment voucher for paying his/her renewal fee for business license. After payment of due fee, the applicant will be able to receive renewed business license from relevant authority
It is important to note that this process should be done at right time because you will be fined after crossing the last date for renewal of license. It is also necessary to complete the application form and submit all necessary documents and fees in time. Any mistake in this process can prove harmful for your running business. The safest way to advance this process is by contacting Riz & Mona Consultancy about business license in dubai. We will ensure timely and accurate completion of the whole process for renewal of your business thanks to our experience in Dubai and UAE.