Doing business in the UAE requires valid business permits issued by the government authorities after proper inspection. All trade and profit business enterprises and corporations have to register themselves with the Chamber of Commerce and Industry (CCI) in the respective emirate.
It may not be possible for business owners to complete the process on their own. Business Setup Consultants in Dubai like Absher Business Consultancy offer license renewal and amendment services to their clients. Since the trade licenses are issued for one year only, they renew their client's license before expiry, thus helping in avoiding any penalty.
Business License Amendment in UAE
There are three main categories of business licenses in the UAE.
Commercial – A company, whether LLC or sole ownership, trading in goods and commodities, can apply for a commercial license. There are different types of commercial licenses, and one must apply for the correct one. Rental transportation, healthcare, retail, real estate, etc., need to have a commercial trade license.
Industrial- Businesses engaged in manufacturing or industrial activities need an industrial trade license. The DED issues this license, but additional approval is necessitated from different UAE Ministries such as Finance, Infrastructure and Energy depending on the industrial activity involved.
Professional -All professions such as accountants, auditors, healthcare specialists, teachers, advertising consultants, legal advisors, and others come under the purview of professional services. The Department of Economic Development (DED) gives this license to establish that the person or business is skilled enough to provide the best pro services in Dubai. A civil company, LLC, or sole establishment can be formed with a professional license.
License Renewal Steps and Procedures
The Trade license is issued for one year in the UAE and renewed annually. It needs to be renewed before expiry; otherwise, the entrepreneur cannot continue business operations with an expired license.
Apart from renewals, business owners can make amendments to their licenses. It can be done at the time of renewal and is required in the following circumstances.
Addition or deletion of a business partner
Changes in Management details
Change of Trade name
Modifications in the authorized capital of the business
Replacement of local sponsor with a new one
Change in business activities
Process for License Amendment
The procedure required for amending a trade license is:
Filling out the license renewal form along with the relevant amendments to get the initial approval.
Specific approvals are required from government authorities if the business change is related to Education, Healthcare, Food industry, Real estate, etc.
Submitting relevant and supporting documents for amendments approval.
Payment of relevant fees for amendment
Collecting the updated business license.
About Absher Business Consultancy
Absher is known for the top-class business consulting service in the UAE, thus taking care of license renewals and amendments. They also keep track of matters related to renewals, registrations, and amendments on behalf of their clients.