Dubai is one of the major countries that has established itself as the business hub of the world. Many entrepreneurs and investors are looking this as an opportunity to setup their business in Dubai as the country offers a huge number of benefits. After busines setup, Dubai mainland license renewal is a yearly process. Company has to renew its business license every year without any missout.

Now, applying for a license for mainland business setup in Dubai is more beneficial as compared to other types of business entities. There are numerous advantages to establishing a business in Dubai mainland, including a wide range of trading options, unlimited visa grants, and much more.

One of the most significant advantages of a mainland business setup is that you can now have now you can have 100% ownership in Dubai for your mainland business even as an expat. UAE. Furthermore, this is the most effective way to do business in the UAE and allows you to open offices in any location. This also broadens your company’s reach across the country.

Businesses must have a valid business license to operate in the UAE, as in any other country all over the world. Before starting a mainland company formation in Dubai, every firm must obtain a trade license so that you don’t have to suffer any actions later or maybe face a heavy penalty if you conduct business without a trade license.

Who handles Dubai mainland license renewal?

Now you might be wondering which body handles the issue and the renewal process of a mainland business setup in Dubai. So that would be the Department of Economic Development (DED). Yes the body is whole sole responsible for issuing, regulating, and renewing mainland trade permits in Dubai.

A trade license in Dubai must be renewed every year from the Dubai Economic Department (DED). You have the option of renewing your Dubai mainland business license electronically or manually as an entrepreneur. However, DED has launched a lot of new initiatives that can help you save a lot of time, money, and extra efforts.

So what all documents must you submit? To answer all of your questions, we have compiled all the necessary steps that need to be followed for Dubai mainland license renewal.

What are the paper works that goes into the renewal of the license in Dubai in 2022?

It is best to have all of the necessary documents ready before applying for renewal of a mainland business in Dubai to ensure a smooth filing process.

Make sure if you have your checklist ready before applying for license renewal-

What are the steps to renew your license?

If you are using an expired license for trading in Dubai, it can cause issues with your business operations. To ensure that your company meets the desired compliance standard, you must renew it on time.

This is how you can renew your mainland company license in Dubai-

• Verify the validity of your tenancy agreement.
• Submit your application to the Department of Economic Development (DED)
• DED will provide you with a payment voucher.
• Make your payment to DED and get your renewed license.

What is the license renewal fee in Dubai?

The expense of renewing your trade license for a mainland company formation in Dubai is determined by many factors, including your business setup, location, activities, business size, jurisdiction, and others. Furthermore, the type of license you have for additional approvals impacts the actual cost of your license renewal. To get a better idea of the investments that will be required for your business, you must take advantage of a cost calculator.

Calculate your startup costs with cost calculator for company setup in UAE

How much investment will you need to establish a business? Calculate your business’s startup costs so you can seek funding, attract investors, before launching a business in Dubai. Preparation and pro activeness is the key to a successful business. You will have bills to pay before your company opens its doors. Understanding your costs will aid in your launch’s success.

How can a cost calculator for company setup in UAE assist you with your startup costs?

• Calculate your profits
• Analyze the break-even point
• Secure loans
• Attract potential investors
• Calculating tax deductions that help you save money

What are the challenges that a company faces while renewing their license?

The filling process for a license renewal is not that easy and many new entrepreneurs might face a lot of challenges while doing so. Some of the common challenges are-

• Heavy penalties due to late filling
  A major concern that might cause serious repercussions is that when you fail to renew your business license, your company may face heavy monetary penalties and you may have to pay a huge amount of money as fine. So it is better to fill in your license renewal form on time.
• Maintain a clean record
  Another challenge one might face is the obligation of maintaining a clean record for the company. In case you fail to do so, companies with expired licenses are not permitted to expand and this could lead to a shortage of a good clientele for you.
• Being organized with the paperwork
  Many companies fall short of proper administrative guidance and even if they are keeping it organized in the beginning they get carried away till the process is over. And this could cost you later because the major portion of the renewal procedure depends on your documentation.

FREQUENTLY ASKED QUESTIONS

Get professional assistance from Projectfrpjsc

When you have the right business consultant by your side, the process of license renewal becomes easy and streamlined. It is not difficult to renew your trade license. You can learn about the process ahead of time to avoid being tricked.

Also, double-check your license renewal application for errors before submitting it. When renewing your trade license, it is a good idea to consult a mainland company formation specialist in Dubai like Projectfrpjsc for a smooth and hassle-free renewal process.