The best way to do any business is to put yourself in the place of the customer. People usually have to go through a lot for nourishing their business. It’s not easy to flourish in this competitive world. And doing business in Dubai is not less than a feat because Dubai is the business and investment center in the Middle East and a global hub. The intense competition and the restless drive for profit have made this hub an arena. As more and more companies are starting to invest in Dubai the rules and policies are also becoming more strict than before. In the previous article, we talked about the process of getting a trade license renewal in Dubai: HOW TO GET A TRADE LICENSE IN DUBAI
YOU WANT TO KNOW IMPORTANCE OF TRADE LICENSE RENEWAL IN DUBAI?
A trade license is an official document that allows individuals or organizations to continue their business venture or trade for which it is issued. These do not declare any ownership over any property and cannot be used for any activity other than one for which it was granted. These are often termed as business licenses and are issued by government agencies. The trade licenses in UAE fall into three categories:
- Commercial license(all kinds of trading)
- Industrial license(manufacturing or industrial)
- Professional license(professional, services and craftsmen)
Running your business without a license or after the termination term of the license is an offense. The concerned authority can seize or wind up your trade without prior information. It is also punishable in the court of law. Now that would be a menace, wouldn’t it?
STEPS FOR TRADE LICENSE RENEWAL IN DUBAI
Trade license renewal Dubai comes under the jurisdiction of Department of Economic Development (DED). They continuously make efforts to make this process more efficient and swift. Online trade license renewal is also available.
Ensure the validity of your tenancy contract:
First, make sure that your tenancy contract is intact. If expired, then renew it prior to applying for renewal of trade license and get the documents attested by Real Estate Regulatory Authority (Ejari). This is important because tenancy documents are a prerequisite for the trade license.
Any type of problem with your tenancy contract will lead to the rejection of your trade renewal application.
Collect activity specific licensing approvals: Trade License Renewal Dubai
This is of course not for everyone but becomes mandatory if your business requires certain other public services. For example, you will need RTA’s approval if your trade involves taxi services, Car rentals, outbound and inbound tour operators, etc. So in such cases, take the permission from the concerned institution.
Basically, every business in Dubai requires a licensing approval from the concerned licensing approval department depending upon the nature & type of the business.
Apply for renewal:
This is the most important step in the process and can be classified into three categories of trade license renewal Dubai:
Department of economic development (DED) has introduced an easy and simple Renewal service. You just have to send an SMS to 6969 with your license number. Renewal fees will be generated with the help of automation software and a payment voucher will be sent to your mobile number. Now you just need to pay the prescribed fee.
DED also provides services. But in order to avail this facility, you should have an online user account in the ‘Business In Dubai’ app. This app has a very user-friendly interface and is available for both iOS and Android.
The most traditional and secure way is to visit Authorized service centers, law firms or Happiness Lounge. Happiness lounge is a government institution that assists business people to promote trade in Dubai. Upon submitting the required documents, you will be charged the renewal fees.
** For branches of foreign companies, a copy of the trade license of the parent company is required for Trade License Renewal Dubai.