Trade License Renewal
Trade License renewal must be done yearly. Make sure to renew your license before it expires
Trade License renewal must have done yearly. Make sure to renew your license before it expires.
Once you have your license in hand, your job isn’t necessarily done. Obtaining your license is just the first step however you have to consider that renewing of trade license is now part of your duty for your company.
On the other hand, every Trade license is about to expire and has its own validity. Make sure to renew your license annually unless the following may happen in the future:
Important Matter
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Fines or Penalties
A non-renewal license, fines are expected to appear. Failure to process the renewal of the license one month (grace period) after the date validity, companies should expect AED 200/ per month fines
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Blacklisted
If a company fails to renew the business license and does the operations with the expired license may be put under the “blacklisted” category. This may lead to the termination of the business operations.
Since fines are getting bigger and bigger from the failure of renewing your trade license. And you were still able to operate your business, the license will automatically put under the “blacklisted” category. In this case, the Visas, partners, and sponsors listed under the company will be considered terminated. Not just that but also the termination of any business operations.
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Restricted of any business expansion
Of course, once reviewed in the system that we aren’t able to renew your trade license, the Dubai Economy will automatically ban your company to expand at any areas around UAE, they will hinder you at any future plan of expansion unless you settled all the consequences from failing to renew the trade license.
Requirements of renewing the Trade License:
- Copy of Trade License
- Generate Payment Voucher Fees
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