How to avail EMI facility for Dubai Trade License Renewals in 2021?

Business owner reviewing trade license renewal documents and payment vouchers at a desk with Dubai Economic Department forms

Trade license renewals in Dubai are due every year and are obtained from the Dubai Department of Economic Development. In accordance with the latest stimulus packages issued by the Dubai Economic department, businesses operating out of Dubai and with expired trade licenses in Dubai can now request their trade license renewals in easy monthly installments.

The first stimulus package covered a wide spectrum of 15 initiatives. Of these, 9 initiatives focused on commercial and business sector including a freeze on the 2.5% market fees imposed on imported and locally sold products, waiving off of bank guarantees up to AED 50,000 (even new businesses eligible for this waiver) and 90% reduction of fees on companies’ customs documents.

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Then, there was also the cancellation of the 25% down payment norm required for availing installment-based payment of government fees for obtaining and renewing licenses.

The new stimulus reforms will make it further easier for businesses to clear fines and renew their licenses. The package will allow businesses to pay their fees and fines in easy installments, freeze their trade license for a year and seek an amicable settlement with DED on commercial violations.

AI Summary

This article addresses the installment payment facility introduced by Dubai Economic Department for trade license renewals in 2021. The legal framework stems from stimulus packages that waived the 25% down payment requirement and introduced EMI options for government fees and fines. Practically, businesses with expired licenses can now obtain payment vouchers, request fine discounts through Dubai Municipality, and submit installment requests to DED with supporting documents before depositing cheques at Aafaq Islamic Finance counters. The article assists business owners and investors in Dubai seeking to renew licenses or clear penalties without immediate full payment.

Generated by AI · Not legal advice

Key Takeaways

Dubai Economic Department eliminated the 25% down payment requirement for installment-based payment of trade license renewal fees as part of 2021 stimulus reforms.
Businesses must obtain a payment voucher from DED through its website, Tas'heel Centers, or DED branches before requesting installment facilities.
Fine discount requests can be submitted through Dubai Municipality's revenue online service prior to applying for the EMI facility.
The installment request requires submission of a completed DED form, payment voucher, official letter from the license owner, and Emirates ID copy to [email protected].
Approved installment payments must be made through company cheques deposited at Aafaq Islamic Finance counters, as personal cheques are not accepted.
The stimulus package included 15 initiatives with 9 focused on the commercial sector, including a freeze on 2.5% market fees and waiver of bank guarantees up to AED 50,000.

How to pay your trade license renewal fees in Dubai in easy installments?

Get your Payment Voucher

Obtain your license renewal payment voucher through DED website or DED Service counter at Tas’heel Centers or any of the DED branches located across Dubai.

Request a Fine Discount

Submit a fine discount request through Dubai Municipality’s revenue online service (if any). If you don’t have any fines iposed, you can skip this step.

Make an Official Request to DED’s Revenue Department

Mail the payment voucher received from Revenue Department to DED’s e-mail address ([email protected]) to request for installment facility. .

Documents to be attached along with your DED request

A copy of your Payment Voucher.
A copy of DED form filled and signed by license owner.
Official Letter from the License owner requesting installment.
Emirates ID copy of the license owner and applicant’s Mobile number.

Dubai Economic department will now provide you with an approval for installment payments along with your EMI amount and the corresponding dates for issuing cheques. You will now require to write cheques in favor of Dubai Economic Department and deposit at them at the Aafaq Islamic Finance Counter along with the following documents. Personal cheques are not allowed.

Aafaq Tasaheel TL Finance Form, available at Aafaq counters.
Partner’s Passport copy and Emirates ID Copy along with company stamp.

The new service package is an opportunity for investors and businessmen seeking to renew or their licenses or clear their penalties. It will allow businesses to go past hurdles and focus on growth and seeking further investments thus creating more new job opportunities..