How to renew your Dubai business license?

The last thing you want to happen after all of your hard work to set up your business in Dubai is to lose it, particularly for something as minor as failing to renew your Dubai business license! Let's get right to the point: if you own a company in Dubai, you must renew your DED-issued business license every year. You will have to pay penalty if you don't. If you don't, you might face serious consequences. You could also face other negative effects, such as your company being blacklisted or difficulties expanding your Dubai-based business.

Fortunately, company license renewal in Dubai is fairly easy and can be done both online and in person. It can be made even simpler with the assistance of business setup experts who are familiar with everything there is to know about company registration in Dubai as well as how to renew a company license in Dubai.

Why is it important to renew your Dubai business license?


All companies in Dubai must renew their business licenses long before their expiration date, according to the Department of Economic Development (DED) and other regulatory authorities in Dubai. Here's what will happen if you don't follow their guidelines for renewing your company license in Dubai:

  1. You'll have to pay huge fines
  2. Company may be blacklisted
  3. Business may be barred from expansion


Steps to renew business license in Dubai


  1. Keep in mind you have a valid tenancy agreement.
  2. Apply for company license renewal
  3. Pay your license renewal fees

Isn't it pretty straightforward? Do you really want to take such a chance by allowing your Dubai business license to expire after all the work and financial expenditure it took to set up your business and get it up and running? All of this can be avoided simply by keeping track of your license expiration date and renewing it until it runs out. Someone should be assigned to this role. You could entrust the company license renewal to a member of your team, or you could employ reputable business setup consultants with extensive experience in this field. Whatever choice you choose, it's important to keep your Dubai business license current, or you risk losing everything.



Comments

  1. AnonymousJuly 7, 2022 at 10:46 PM

    If you are searching for a company formation in Dubai and also steps to renew your business licenses. It is the best blog to know about it.

    ReplyDelete

Post a Comment

Popular posts from this blog

Company Setup in Dubai

Image
 Company setup in Dubai To setup a company in Dubai becomes is easy when you hire the best Business setup Consultants. There are three types of company you can start in UAE. These types of companies are Mainland Companies, Freezone Companies and onshore companies.  The cost of establishing a company in Dubai vary depending on the business activities you want to do. To ease the process of registering a company and to avoid any penalties and not waste much time, you need to hire the leading business setup companies like Avyanco. Dubai have amended the new law that always the foreign nationals to open the companies with 100% foreign ownership in UAE which is going to transform the business especially for foreign investors
Read more

UAE Allows 100% Foreign Ownership Of Companies

  In a landmark decision that will have a far-reaching positive effect, the UAE has allowed foreign nationals to hold full ownership of companies without the need for   sponsorship by a UAE national . This move would allow foreign investors from December 1, 2020 to retain 100% ownership of their business in UAE. This move will be a game-changer leading to a huge influx of foreign direct investment, New Alliances, according to leading experts & top businessmen in the GCC, which will further improve UAE ties with investors around the globe. Read more.. 
Read more

Key Factors To Keep in Mind About Before Starting a Business in Dubai

Image
 Starting a business can be very exciting, but there are some important things to consider first. How Your Business Will Be Set Up Deciding how your business will be legally structured is a big decision. In Dubai, the common structures in Dubai Mainland are sole proprietorship, partnership, limited liability company (LLC), and company corporation . Each type has its good and bad points, so it's smart to research and get advice from an expert to choose the right one for you. Where Your Business Will Be Choosing the right location for your business matters a lot. Depending on what your business does, you might need to be close to suppliers, customers, or other businesses. You'll also need to consider how much it costs to rent or buy space and what rules you must follow. Money Stuff It's super important to plan your finances before you start your business. This means making a budget, opening a business bank account, and figuring out how you'll pay for everything. You need
Read more