Ajman Dept. of Economic Development just announced that it is removing the requirement of lease contract submission for the renewal of licenses for at least three months following the license of economic activities renewal. The lease contract is to be submitted to the authorities within 30 days from the permitted duration’s expiration.
This current initiative of the licensing and registration authority of Ajman is aimed at facilitating the fulfillment of the needs of entrepreneurs, investors, and entity owners, as well as to support the community in light of the dire circumstances the market has faced due to the spread of coronavirus (COVID-19). Ajman DED decided that it is best for the market to delay the submission of lease contracts for business license renewals as it ensures continuity of doing business within the emirate.
Details to New Update from Ajman DED
The department exempted the condition to enclose a lease contract with the location of the entity during license renewal. The license renewal in Ajman DED may be done through various channels; however, what is best is to have experts perform the task in your behalf. If you require another option, you can get more information regarding business license renewal in Ajman DED (including business setup in Ajman) in the department’s app for mobile phones and tablets.
Updated list of requirements for Ajman license renewal
- Application form
- Photocopy of current trade license of the business
- Photocopies of passports of all business partners
Every business has to renew the trade license that was issued by Ajman DED as per regulations set by the authority and in order to remain legitimate.
Despite the efforts of DED in easing the renewal of trade licenses, it can still be cumbersome to handle the procedure of getting a trade license renewed in time. This is especially true for entrepreneurs who don’t wish to handle such affairs. This is where FAR Consulting Middle East’s experts on business setup in Ajman can help. If you have questions and concerns regarding trade license renewal in Ajman DED, call us as we’d love to address them!
Does Ajman DED Provide a Grace Period with the License Renewal?
There’s a grace period that is provided by Ajman DED with a duration of a month prior to a business license’s expiry. In order to make sure that the license renewal is processed on time and the business does not acquire unnecessary fines and penalties, then it has to seek the guidance of specialists, if possible.
While Doing Amendments to a Business Trade License e.g. Remove, Add or Transfer, is Physical Presence of the Business Owner Required?
After settling the payment and uploading the form complete with signatures of business owners, there is a need to be physically present at Ajman DED in order to verify the signatures.
How Much Does it Cost to Cancel a Company License Issued by Ajman DED?
The current cost to cancel a business license is approximately AED 2,000 to 2,500. Take note: prices can fluctuate depending on the regulations of DED of Ajman.
Is it Possible to Change a License Activity Type?
This will depend on a lot of factors including the approval of the authority. If you want to increase your likelihood of getting an activity type added or changed, we suggest you speak with business setup specialists in Ajman.
How do I Obtain a Business Trade License in Ajman?
Here are the steps that are involved with trade license processing with Ajman DED:
- Select the business category that you plan to be involved in e.g. industrial, professional, or commercial
- Make a decision regarding the business activities that you want to include in your business trade license (a maximum of 10 activities for each license)
- Select an appropriate business name (has to adhere to policies relevant to naming businesses in UAE)
- Complete and submit initial approval application
- Get external approvals depending on the kind of activities that you want to conduct within Ajman
- Compile all the necessary documents required for the processing of a trade license in Ajman, which may include a Memorandum of Association, as well as approved documents from relevant government authorities
- Decide a location for the business within the jurisdiction of Ajman and get your tenancy contract properly attested
- Submit to the DED the application in order to acquire the final license
- Settle the payment for the trade license
It may sound relatively simple to acquire a trade license with the DED in Ajman; however, the compilation of the requirements and securing the approvals of relevant authorities are what makes the process complicated. Call us today if you have questions and concerns that need to be addressed by experts on business setup in Ajman. We’d love to help you benefit from operating a business in Ajman’s lucrative markets.