Dubai is one of the countries that has made it compulsory for every firm and organization to have a business license. For the same reason, annual trade license renewal in Dubai is compulsory. This process is under the supervision of the department of economic development in Dubai. The license renewing process is straightforward, but you might need to deal with the lot of documentation.
It is very important to renew a license in time, and if not renewed it can cause problems like penalties, banning of business, or some other serious issues. Before you learn about license renewal you must be aware of trade licenses. The license does not allow any trade except the one it has permitted.
The trade license you are issued is valid for only one year and must be renewed yearly. There are almost 50 free zones in the UAE and all have their unique requirements for the trade license renewal process. The documents required for the trade license renewal are given below:
- Ejari registration
- Tenancy contract with validity
- A copy of your old trade license
- Photocopy of passport of all business partners