Renewal of business license in Dubai:
The trade license renewal process is something you care about as a foreign investor and business owner. Dubai presents an excellent investment opportunity with its growing economy, liberal trade rules, convenient location, and welcoming market. Due to this, thousands of foreign investors come to the city of gold with their business ideas spanning industries, budgets, and niches to establish and expand a profitable business.
When you register your business in Dubai, you must have a valid license to conduct business operations. This license must be renewed every year to ensure that you can sell your products seamlessly in the UAE and globally without violating any standards.
A good practice is to start the renewal process by reviewing the application details and cost of DED license renewal fees a few days before your business license expires. This will help you stay on top of your legal status in case of LLC formation in Dubai and continue your business without any hindrance.
The renewal of a trade license in the UAE is managed by the Ministry of Economic Development (DED). Although DED license renewal is a complicated process, it must be done carefully with the help of a good consulting agency.
What documents are required to renew a business license in Dubai?
For a hassle-free application, it would be best to have all the relevant documents ready before applying for a business license renewal in Dubai. Below is a list of all trade license Dubai-related required documents and their details.
1. Lease Agreement:
An important document that you should have on hand to renew your DED license in Dubai is the rental agreement. Your rental agreement must be valid for at least one month in Dubai. Moreover, Ejari must also confirm it. For this reason, you must first check your lease before applying for an extension. If you do not receive this confirmation from Ejari, your business license may be refused due to legal obligations.
2. Old trade certificate:
To apply for a business license renewal in Dubai, you must submit your old license as a supporting document. It is not necessary to submit the original document, so you must have a copy of it at hand. Intuitively, any failure to submit a copy of your old business license will result in your renewal being denied.
3. Form BR/1:
Form BR/1 is a mandatory form that must be completed to complete the business license renewal application process in Dubai. Since filling out this form will start the renewal process, you must have the signatures of all business partners on it. Once you have completed this form, submit it to DED for approval.
4. Copies of passports of all Business shareholders:
Along with your application, you must submit a photocopy of the passport of each partner involved in your business. This is mandatory to demonstrate the stakeholders involved in your business. In case you are the only entity involved in your business, you will only need to present your passport to renew your DED license.
What is the process for renewing a business license in Dubai?
1. Collect and verify your documents:
The first step in Business Setup in Dubai is to gather the documents needed to renew your DED license. Make sure you have the relevant copies and originals on hand. Check your lease because if it doesn’t have at least a month left, your license renewal won’t be approved.
2. Complete the application:
The next step is to complete the BR/1 form and have it signed by all parties involved. You need to attach all the relevant documents and then submit them to the Ministry of Economic Development to renew your business license in Dubai. After your submission, the department will verify your documents and contact you within a few days.
3. Get your payment token:
After verifying your business license in Dubai, you will receive a payment token from the Ministry of Economic Development. You must use this token to pay the Dubai General Business License fee.
4. Pay DED license renewal fees:
The final step is to pay the Dubai business license renewal fee to complete the renewal process. This completes all the steps required to renew your DED license. Once the DED department verifies the payment, you will have a renewed business license.
