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.
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.
How to pay your trade license renewal fees in Dubai in easy installments?
Get your Payment Voucher
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@example.com) 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..