A Basic Guide for Renewing Your Trade License
Dubai is one of the most popular destinations for businesses that want to operate in the Middle East. Regarded as a global city, Dubai is home to some of the world’s biggest brands and companies. It’s an attractive destination for business owners because it allows you to target a global customer base. People visit Dubai from all over the world, and because of that purpose, you will be able to address people from all walks of life. However, Dubai has a set of stringent laws that all companies are required to follow if they want to engage in business dealings.
One of the laws is to renew their Trade License annually. The Trade License is the legal document that allows businesses to perform the activities as were listed in their original records within the UAE, in line with the regulatory requirements of that company. The government offers businesses the option to renew their licenses online as well. Trade license renewal in Dubai online can be done with the help of a local administration firm, or you can even do it yourself. Here are a few things that you should know about renewing your trade license.
What Documents Will You Need?
You will need to submit many documents before the trade license can be renewed. These documents can be submitted online, or you can give them directly to the local company registrar within your vicinity. The major documents required include:
- Tenancy Contract & Ejari
- The Renewal Form in Typed Format
- Passport copies of all the partners that form up the business
Other Things to Know
When submitting the documents, make sure that you check that your tenancy contract is valid for a period not less than one month from the date of filing of the application. If that isn’t the case, you will first have to renew your tenancy before you plan on renewing your trade agreement. There are DED service centres where you can submit these documents to renew the license.
However, many people make mistakes when filling out the documents, so it’s better if you hire a local business administration firm to assist you in filing the paperwork. They will make sure that everything is acceptable and complete to help you save time. If you do not fill out the documents correctly before submission, there’s a chance that the papers will be sent back for correction.
Any local business administration firm will charge a small fee to assist you in filling out the documents. They will charge a small fee from you for their services, but that pales in comparison when you consider the many benefits that you get for allowing them to fill out your forms for you.