Having a Business License in Dubai is a very Big Advantage for you as an Investor to enjoy the Facilities and Business Friendly environment that the United Arab Emirates developed for all Businesses operating out here. It is recommended to get your Business License renewed on time to avoid any overdue license renewal penalties and keep your Business running smooth without any complications that will arise because of the non-renewal.
All Business Licenses in Dubai Should be renewed on an annual basis “Every year” or every two years if the Lease agreement allows that. The renewal process requires a new valid lease agreement attested by the Real Estate Regulatory Authority ‘EJARI’ as well as another approval by the Business Activity Regulators in order to be accepted by the Department of Economic Development for the License renewal.
The Basic Process of the License Renewal are:
1- Visit the Department of Economic Development for Documents Submission (It can be done by an authorized PRO)
2– Submit a valid lease contract attested by Real Estate Regulatory Agency (EJARI)/ in case of individual property, property ownership certificate must be submitted.
3- Provide business activity regulator approval -if applicable for your license.
4- Pay the License renewal fees. Fees depends on the particular Business Activity assigned to your license, meanwhile, license renewal fees vary from license to another.
5- Receiving the renewed License. Your renewed license will be handed over to you upon the completion of your payment.
If you are not thinking about renewing your Mainland Business License on time according to the expiry date, you should at least apply for FREEZING THE LICENSE. This process allows you to freeze and delay the renewal of your Business License for a certain period for the avoidance of the Overdue License Renewal Charges. The Process can be done providing the following documents:
- A letter from the company or the institution requesting to stop the licensing temporarily.
- A letter from the Ministry of Labor indicating the absence of sponsored people on the license.
- A report from the inspection division in Dubai Department of Economic Development.
After the submission of all letter above, the Department of Economic Development will give you an official ‘Freezing’ status that will keep your license existing but not active, hence, you will not be receiving any unnecessary charges for the license overdue renewal We always recommend all of our valuable clients to operate and run their Business in a smart effective way in order to reduce the Overhead Cost.
There are so many elements that can be implemented to reduce the Overhead Cost of the entity. Renting a convenient cost effective office as Serviced Location with a Business Center is an ideal element to not only reduce the rent cost, it will also help you reducing the cost of employees, utilities and lots of other aspects that we are going to be talking about in some upcoming articles to keep you educated with some useful thoughts.