Trade License in UAE
Practicing business activities in the UAE requires a valid license from the statutory body which controls and regulates the licensing policy in UAE. However, certain businesses require approval from the concerned ministries for trade licenses. In UAE, It is mandatory for all commercial and industrial businesses that they should register themselves with the Chamber of Commerce and Industry in their respective Emirate.
Types of License in the UAE
Having a trade license is the basic requirement for all commercial activity in the UAE to carry on their affairs. The business licenses are categorized under three heads:
- Commercial licenses – It covers almost all types of trading activities
- Professional licenses – clear by its name, it covers all professions and services.
- Industrial licenses – it allows all industrial or manufacturing activities
License Renewal in UAE
The business license in the UAE is issued for one year and to continue the business actions, it is needed to be renewed thereafter. An entrepreneur cannot carry out business with an expired license. A license in UAE offers flexibility to make amendments at the time of renewal. A business house can fix various changes while renewal of the license.
PMC Solutions DMCC provides complete support in the renewal and amendments in the trade license. Our team keeps you informed about dates of expiry and renewals by sending timely reminders and ensures that the things are sorted out before being complicated.
Applicable Amendments in License
Following changes are allowed under License amendment head:
- Change of Trade Name
- Addition, Change or withdraw a Business Activity
- Change in Business Location
- Change in Local Sponsor
- Change or add any Management Details
- Adding or Removing a Partner/partners
- Amendment in Authorized Capital
Steps in Business License Amendment
Amendment in a trade license involves certain steps to be followed by the applicant
Fill the Registration and License Form – Select the required amendment and get the initial approval. The approval can be formally requested through the following channels:
- Service centers
- Happiness Lounge
Collect Business – Specific Approvals (if required) – If the activity of the business is regulated by any government departments, then the amendment needs business activity-specific approvals from the concerned government department.
Submitting Supporting Documents – The application for amendment should be braced by the supporting documents. The application and the supporting document depend upon the kind of amendment that is required.
Collection of the Updated License – Once the applicant submits the application, documents, and the approvals as mentioned above, a payment voucher is issued to the applicant, which is used to make the payment of the fees for the amendment.
Finally, the updated license can be collected after the payment transaction is completed.
PMC Solutions DMCC to serve you
PMC Solutions DMCC assists the client with the trade license renewal, license amendment, license cancellation, and liquidation of a company in UAE.
The consultant is a leading business formation specialist in the UAE and is a top-class service provider with nominal fees as a service charge. Our team handles the affairs of the license amendment very professionally and also keeps the client informed about the expiry of various licenses and registrations.
Contact us for more details, and we’ve been happy to have you as a prestigious client.