In the UAE, it is essential to renew your permit to trade before it expires. There is a penalty for every day the permit to trade is not renewed. Failure to renew your permit to trade in Dubai will result in a ban on all licenses held by the shareholders, freezing all of their business activities.
Our reliable PRO Services offer a free of charge complementary data management system to all our clients. We maintain a confidential and protected database of our clients. This includes data relating to:
Dubai business Advisors will remind you well in advance of your permit to trade (or other document’s) expiry date. This value-added service keeps your business protected from bans and penalties.
Expired permit to trade in Dubai
As per the rules and regulations set out by the Economic Development Authority of Dubai, the DED, an entity conducting its operations without a permit would be fined AED 5000.
An amount of AED 250 would be charged extra against failure to renew the license in the timeline provided by DED.
Similarly, an establishment overlapping an existing business license can make the investor liable for a fine of AED 2000.
Permit to trade in dubai renewal grace period
There is a 30-day grace period after the expiry of the permit to trade, during which the company can either renew the permit to trade or cancel it.
Permit to trade Renewal in Dubai Requirements
1. Permit to trade Renewal for a Mainland Company
The permit to trade renewal for a Mainland Company may appear easy but can be at times complicated especially when it involves approvals from various public departments other than DED (Department of Economic Development).
Normally the following documents are required:
- Current License Copy
- Tenancy Contract & Ejari Certificate
- Depending on your activity, certain documents are required for external department approvals.
The time duration for the renewal of a normal trading license takes normally 1-2 working days. If additional external approvals are required, the process may take 7 working days.
2. Permit to trade Renewal for a Free Zone Company
The permit to trade renewal for a Free Zone Business Setup varies from free zone to free zone and the type of package you have availed.
Below, there are a few mandatory documents required for a permit to trade renewal in a free zone:
- Permit to trade copy or original document depending on the free zone*
- Some free zones demand an audit report
- P.O. box confirmation renewal
- Passport copy of the shareholder.
- Other documents depending on your activity and the chosen free zone.
The time duration for the permit to trade renewal depends on the free zone and can be anything from 1 – 3 working days.
- If the shareholder is another corporate or a foreign company then the renewed permit to the trade of the parent copy is also required.
Why renew your permit to trade with Dubai Business Advisors?
Dubai Business Advisors are committed to saving you time, money, and energy when renewing your permit to trade. Our streamlined PRO services have assisted our satisfied UAE clients in renewing their permits to trade for over 17 years!