How do I Renew My LLC License in Dubai?

If you want to set up an LLC in Dubai, you need to have knowledge of the application process and LLC license renewal cost in Dubai. Every LLC (Limited Liability Company) in the UAE must complete its business license renewal in time. It ensures the smooth functioning of the business. The license renewal process necessitates the submission of legal documents and annual fee payments to the DED. The whole process can be easily managed by business setup consultants in Dubai like Shuraa.

What is an LLC?

What are the Advantages of Setting Up an LLC in Dubai? 

1. The liability of the shareholders is limited to their shares in the company’s capital; 

2. Conduct any type of business activity except for insurance, banking, or investment. 

3. Legally trade anywhere in the UAE, including the Free Zones.  

4. Acquire as many visas as required. 

5. The company can rent/buy office premises anywhere in the Emirates. 

6. There is no requirement of paid-up capital. 

How to Renew Your LLC License? 

To make it easy for you, we have listed down all the necessary steps for the renewal of your LLC license.  

Step 1 - Complete the Documentation 

The very first thing you should do is gather all the required documents. Keep all the relevant copies in one place and also the original ones handy too. Remember, that your tenancy contract must have at least a month’s validity remaining. IF not, your LLC license renewal will not be approved. 

Step 2 - Application Form

Next, you need to fill your BR/1 form. Make sure that all the business partners sign it. Attach all the relevant and valid documents. When you have the form and documents ready, submit them to the Department of Economic Development. After you have submitted your documents, they will be thoroughly inspected. Once they have been verified, the department will notify you. 

Step 3 - Make the Payment 

After the DED verifies all your documents, you will receive an email from the department. It will include a link through which you need to pay the LLC license renewal cost in Dubai. Once you have paid the renewal fee, your LLC license will renew. 

What Are the Documents Required for Renewal of LLC license? 

To complete your application process without any hassle it is important to keep all the documents ready. Below mentioned is a list of all the required documents for the renewal of your LLC license in Dubai. 

1. Tenancy Contract 

You must register your tenancy contract with Ejari, which is an online registration system initiated by RERA to record all the rental or lease contracts in Dubai. Register and obtain your unique jari number for future references. 

2. Old License 

It is important to present your old license at the time of document submission. You must keep a copy of the document handy. If you fail to present a copy of your old license, it might lead to rejection of your license renewal. 

3. BR/1 Form 

A typewritten BR/1 form, duly signed by all the stakeholders of the company must be submitted. Filling this form will initiate your application process. So, you must fill it with utmost care and make sure to attach all the required documents with it.  

4. Passport Copies of All the Stakeholders 

Submission of the passport copies of each partner involved in your business is mandatory. This works as proof of the stakeholders.  

What is the LLC License Renewal Cost in Dubai? 

An LLC company should apply for a commercial license. A commercial license in Dubai can cost you around AED 15,000. Whereas, the LLC license renewal cost in Dubai can be around AED 5,000 to AED 15,000 plus service charge. Your LLC license can be renewed through authorized service centers. Business setup consultants in Dubai can also help you with the process. 

What Happens if You Don’t Renew Your LLC License?

You must renew your company license before the expiry date. If you fail to do so, DED will cancel it by the end of the expiry date of the license. If you do not renew it or the cancellation is not done, the government body can take the following actions: 

1. You will have to pay a fine of AED 200 monthly to the DED (Department of Economic Development.) 

2. The bank can block the corporate bank account of your company. You cannot access the funds in that bank account. 

3. The government can suspend the custom code of your company. There will be a restriction on the import or export of any items. 

4. The Labour and Immigration department will not issue any visas under your company. 

Connect With Shuraa 

The renewal of your LLC license in Dubai is very important to run your business without any hassle. The paperwork is crucial and any mishap with that can cause cancellation of your license renewal. We recommend you get in touch with Shuraa Business Setup. Their expert business setup consultants in Dubai can help you with your license renewal application process. They can also help with getting your license renewed at a low LLC license renewal cost in Dubai.  

Connect with Shuraa today by calling us on +971 44081900. For chat assistance, send a WhatsApp message on +971 50 777 5554. You can also write to us at info@shuraa.com.