The prevailing view among numerous business owners in Dubai is that trade license renewal is complicated. This may be the case when an owner is unaware of the documents needed to submit while renewing their license or how to generate the DED voucher to make the payment.
As business owners, you have to renew your DED trade license every year. Failure to do so may result in a fine or even a suspension of the company license.
One of the leading causes of delays in license renewals is that some owners do not know how the DED payment voucher works. Not any more! This article tells you everything you need to know about the DED payment voucher. In it, we will cover:
- • What is DED in Dubai?
- • DED payment voucher – What is it?
- • How do I get a DED voucher?
- • How do I check my DED fines?
- • Steps to renew your DED trade license
- • How much does a DED license cost?
- • Working with Creative Zone
What is DED in Dubai?
The Department of Economic Development (DED) is in charge of establishing and directing economic policy. The goal of the DED is to make Dubai a worldwide economic powerhouse.
This goal is being met through six strategic pillars. Each aims to build the proper infrastructure, regulations, and technology to encourage local and foreign investors, businesses, and SMEs to do business in Dubai.
The six pillars are :
1. Economic growth
2. Economic competitiveness
3. Business community happiness
4. Economic foresight and planning
5. Advance DED
6. Financial sustainability
The department is also responsible for granting, amending, and managing company licenses in Dubai. Currently, it can grant trade licenses for 2,100 business activities. These activities come under four categories: industrial, commercial, professional, and tourist.
DED payment voucher – What is it?
A DED payment voucher is generated after successfully submitting all your documents online. It is provided to the business owner within three to four working days and used at the time of renewal fees payment.
How do I get a DED voucher?
To get your DED voucher, you can have it sent to your mobile phone via SMS, visit a service centre like Ta-sheel or Amer or generate it online from the DED website.
To receive it via SMS, all you need to do is send an SMS with your Trade License Number to 6969. You should receive a web link to download the payment voucher within 20 seconds. Once you click on the link, the voucher will automatically download as a PDF file.
If you have the time or prefer personal interaction with someone from the government, visit the nearest Amer or Ta-sheel service centre. After providing your Trade License Number to the advisor, they will print out the voucher, and you can make the payment there immediately. However, there may be a service charge levied.
To generate it online, visit the DED website https://eservices.dubaided.gov.ae/ and log into your account. You will then need to follow the renewal process (more on that later) to get the payment voucher.
How do I check my DED fines?
To check your DED fines, you will need to visit the DED website and log into your account. Once logged in, there are four simple steps you need to do to find out if you have any penalities and to clear them.
1. On the business dashboard, under ‘My Transactions’, click ‘Pay Fines’.
2. Type the license number in the ‘View Fines’ section in the text box and click ‘View’.
3. It will then generate the inspection report and display any penalties imposed on your license.
4. You will then be automatically sent to the payment gateway to pay the amount.
According to the DED, there can be various reasons for issuing penalties against trade licenses and their respective renewals. For example, the DED can levy a fine of AED 250 if you do not renew your trade license on time. In addition, they can impose a further AED 5,000 for operating a company in Dubai without a license.
Steps to renew your DED trade license
To renew your DED trade license is quick and straightforward. All you have to do is:
1. Ensure you have all the necessary documents, including a valid tenancy contract and attested with the Ejari.
2. Business owners need to get permission from the appropriate authorities for some business activities. These must be presented with the DED license renewal.
3. Log into your account on the DED website: https://eservices.dubaided.gov.ae/.
4. Select ‘Renew License’ from the list and generate a payment voucher. The payment vouchers are issued after successful document submission. Within three to four business days, you will get the payment voucher.
5. Make the payment as per the voucher.
Your license renewal will be complete once the payment is successfully processed. If you want to get a copy of your trade license on the DED e-services portal, you can choose the ‘Print Licence’ service and print your DED license.
Non-renewal of your trade license might result in consequences other than financial. Even slight delays might negatively impact your company operations, resulting in losses. It may even lead to the government blacklisting your business, resulting in the blocking of all banking transactions, the cancellation of your employees’ visas and sponsorships, and even possibly your visa.
How much does a DED license cost?
The cost of a DED license is between AED 620 and AED 2,000, depending on your business type.
If all the other expenses, such as the attestation costs for legal papers and the office space rent, are considered, the fee might be anywhere between AED 10,000 and AED 50,000.
Contact one of our business setup managers to get an exact quote. They will be able to give you an up-to-date price that matches the activities you want to carry out.
Working with Creative Zone
Hopefully, you now understand what a DED payment voucher is and how to get it. If you still have any questions, contact one of our business setup advisors, and they would be happy to help.
Creative Zone is the UAE’s oldest and most trusted business setup expert. Since 2010, we have helped over 44,000 entrepreneurs successfully establish their businesses.
We specialise in delivering solutions that best fit your needs when starting a business by providing quick, dependable, hassle-free, and experienced assistance.
Assisting your business setup in Dubai is only the start. We also provide a range of services, including tax preparation, legal advice, and HR management.
When you become our client, you get access to our community of fellow entrepreneurs. You can interact and network with the region’s larger business community through CZ Connect, our networking tool.
Take advantage of our FREE consultations today and get solutions to help with your free zone or mainland company formation in Dubai.