How to renew a trade license in Dubai? Many entrepreneurs and investors are asking about the steps to renew a commercial license in Dubai, because Dubai is a fertile area for emerging and giant projects due to its many factors that have made it an investment destination for foreigners and Arabs. In the following lines, we will discuss how to renew a commercial license in Dubai and the types of commercial licenses in Dubai and destinations. Obtaining commercial licenses in Dubai.
Establishing a company in Dubai
Dubai is an ideal destination for businessmen and investors from all over the world, thanks to the stimulating business environment provided by the emirate, the strategic location that connects it to the world, the advanced infrastructure, and great economic diversity, in addition to the incentives and legislation encouraging investment.
What is a trade license?
It is an official document issued by the Department of Economic Development in Dubai, which allows the company to practice the commercial activity specified in the license.
Types of business licenses in Dubai
- Industrial commercial license: granted to companies that engage in industrial activities.
- Commercial business license: granted to companies that engage in commercial activities.
- Professional business license: granted to companies that engage in professional activities.
- Service commercial license: granted to companies that engage in service activities.
- Tourism commercial license: granted to companies that engage in tourism activities.
Steps to renew a commercial license in Dubai
You can learn about the steps to renew a commercial license in Dubai through the following:
- Choose the type of business activity.
- Determine the legal form of the company.
- Reserve the company name.
- Obtain initial approval.
- Rent a registered office.
- Open a commercial bank account.
- Obtaining the necessary licenses.
- All requirements are met.
- Obtain a commercial register.
Advantages of a commercial license in Dubai
- Access to new markets: Dubai provides a gateway to access new markets around the world.
- Stimulating business environment: Dubai provides an ideal environment for business, as it encourages investment and facilitates procedures for investors.
- Ease of establishing a company: It is possible to establish a company and obtain a commercial license in Dubai within a few days.
- Tax exemptions: Dubai offers many tax exemptions to investors.
- Advanced infrastructure: Dubai provides advanced infrastructure that meets the needs of all types of businesses.
- Great economic diversity: Dubai has great economic diversity, which provides investment opportunities in various sectors.
Factors to consider when choosing the type of commercial license:
- Nature of business activity.
- Financial size of the company.
- Number of Employees.
- Future plans of the company.
Note: This information is for informational purposes only. Please consult a professional legal or financial advisor for specific information related to your situation.
How to renew a trade license in Dubai
Wondering about the steps to renew a commercial license in Dubai ? In order to ease and facilitate the process of renewing the commercial license in Dubai, the competent authorities in Dubai have worked to provide a special initiative for the automatic renewal of commercial licenses in Dubai, through one of the following steps:
- Via a text message with the license number, then the payment authorization is sent with a link in a text message when the license site lease contract is valid, and the customer pays the fees at any of the payment outlets.
- By sending a text message to the customer with the payment authorization if the license site lease contract is valid, then the license holder makes the payment through the multiple dealing centers in Dubai.
Types of business licenses in Dubai
Among the most important points that must be raised about how to renew a commercial license in Dubai, also are the types of commercial licenses. There are five types of commercial licenses in Dubai and each license differs in cost from the other license. Here are the types of commercial licenses in Dubai:
- General trade license.
General trade license is one of the types of trade licenses in Dubai that allows its owner to practice his commercial activity through several loose groups.
- Event organizing license.
An event organizing license is one of the types of commercial licenses in Dubai for organizing events, meetings and exhibitions.
- Business operating permit.
An event operating permit license is one of the types of commercial licenses for companies that wish to operate within the free zone.
- Professional license.
A professional license is one of the types of business licenses in Dubai that allows its owner to practice some of the services mentioned in the permit.
- Commercial license.
A commercial license is one of the types of commercial licenses in Dubai that allows its owner to practice a number of specific commercial activities.
Advantages of a trade license in Dubai
Dubai is an ideal destination for businessmen and investors from all over the world, thanks to the stimulating business environment provided by the emirate, the strategic location that connects it to the world, the advanced infrastructure, and great economic diversity, in addition to the incentives and legislation encouraging investment.
A trade license in Dubai is an essential element for doing business in the emirate, as it offers many advantages and benefits to companies and investors, including:
1. Ease of establishing a company:
- Dubai provides an ideal environment for establishing companies, as procedures are easy for investors.
- It is possible to establish a company and obtain a business license in Dubai within a few days.
2. Access to new markets:
- Dubai provides a gateway to new markets around the world.
- Dubai enjoys a strategic location that connects it to the world, facilitating access to major markets.
3. Stimulating business environment:
- Dubai offers an ideal environment for business, as it encourages investment and offers many incentives to investors.
- Incentives include: tax exemptions, logistical support, and concessional financing.
4. Tax exemptions:
- Dubai offers many tax breaks to investors.
- Exemptions include: exemption from corporate income tax, and exemption from value-added tax on some goods and services.
5. Advanced infrastructure:
- Dubai provides advanced infrastructure that meets the needs of all types of businesses.
- Infrastructure includes: world-class airports, advanced ports, advanced communications networks, and highways.
6. Great economic diversification:
- Dubai has great economic diversity, which provides investment opportunities in various sectors.
- Main sectors include: trade, tourism, real estate, financial services, and industry.
7. Quality of life:
- Dubai provides a high quality of life for investors and their families.
- Quality of life includes: distinguished health and educational services, various entertainment venues, and a clean and safe environment.
8. Ease of obtaining licenses:
- Dubai offers easy procedures for obtaining the necessary licenses to conduct business.
- The government helps investors obtain the necessary licenses.
9. Confidentiality of information:
- Dubai maintains the confidentiality of investors’ business information.
- Dubai provides a safe environment for investors.
10. Asset protection:
- Dubai offers strong asset risk protection.
- Dubai provides a stable legal environment that protects investors’ rights.
note: This information is for informational purposes only. Please consult a professional legal or financial advisor for specific information related to your situation.
A trade license in Dubai is a gateway to a world of business opportunities. By obtaining a trade licence, companies can benefit from Dubai’s stimulating business environment and achieve their investment goals.
Business license authorities in Dubai
The entity responsible for issuing the commercial license in Dubai is the Department of Economic Development. However, there are other local authorities responsible for issuing permits for some economic activities, as there are conditions and controls that regulate the process of practicing these activities. Examples of these activities include: land transport, the Roads and Transport Authority, legal and consulting activities. Legal, oil and petroleum activities, contracting activities and engineering consultations.
If you have a question about how to renew a commercial license in Dubai, do not hesitate to contact us and one of our experts will help you.
FAQ
What is a trade license?
It is an official document issued by the Department of Economic Development in Dubai, which allows the company to practice the commercial activity specified in the license.
What are the types of business licenses in Dubai?
- Industrial business license: granted to companies that engage in industrial activities.
- Commercial business license: granted to companies that engage in commercial activities.
- Professional business license: granted to companies that engage in professional activities.
- Service commercial license: granted to companies that engage in service activities.
- Tourism commercial license: granted to companies that engage in tourism activities.
What are the steps to renew a trade license in Dubai?
- Choose the type of business activity.
- Determine the legal form of the company.
- Reserve the company name.
- Obtain initial approval.
- Rent a registered office.
- Open a commercial bank account.
- Obtaining the necessary licenses.
- All requirements are met.
- Obtain a commercial register.
What is the cost of obtaining a business license in Dubai?
The cost of obtaining a business license in Dubai varies depending on the type of license and the legal form of the company. In general, the cost ranges between AED 10,000 and AED 50,000.
How long is a trade license in Dubai valid for?
A commercial license in Dubai is issued for a period of one year, subject to renewal.
What are the papers required to obtain a business license in Dubai?
- A valid passport.
- A letter from an approved bank proving your financial capacity.
- Detailed business plan.
- Company incorporation contract.
- Approval of the competent authorities.
Can I get help from the government in obtaining a business license in Dubai?
Yes, the government provides many services and support to investors wishing to obtain a business license in Dubai. You can contact the following for assistance:
What are the important tips for establishing a company and obtaining a business license in Dubai?
- Hire a specialized legal or financial advisor to help you establish the company and obtain a commercial license.
- Make sure you understand all the laws and regulations related to establishing companies and obtaining business licenses in Dubai.
- Carefully read all documents before signing them.
Is it legal to establish a company and obtain a business license in Dubai?
Yes, setting up a company and obtaining a business license in Dubai is completely legal. Dubai encourages foreign investment and offers many incentives to investors.
